Are You Kidding Me, Mr. Osborne?

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I had come to have a modicum of admiration (that’s about as much as I can muster for a politician or a banker) over the past few years. But today, either someone slipped him a stupid pill or he is doing his imitation of Barack Obama (moving his lips and expecting people to believe the rubbish you are trying to feed them).

The headline today ┬áin The Telegraph knocked me out of my seat. “Oil price collapse is good news for British people, says George Osborne.” Are you kidding me? George, do you not read the ADVFN online newspaper? Have you not read the painstaking reasoning that I have been sharing with the British and American citizenry? Or are you just expecting the less-informed men and women on the street to believe what you said is true, just because you said it? I get it. You think that, because the dumbed-down American society believes anything that President Obama says, it will work for you. Please don’t do this. Some of us actually trust you.

Let me ask you a question.

The price of crude oil has fallen nearly 50% in the last six months. How much has the price of petrol fallen at the pump? The last I checked (which was about 10 seconds ago), the average price of gasoline in the UK is at roughly 120.0 pence per liter. That’s almost double what Londoners were paying last year.

Next question. So, tell me again exactly how the common people are benefiting by the price of oil being below $60 per barrel.

By the way, have you been watching the market indices over the past two weeks? Not a pretty sight, at home or abroad.

What’s that? You want to talk about Putin?

Oh, I see. The lower price of oil is good news for the British people because it will hurt Vladimir Putin. Excuse me, but that makes no sense whatsoever.

I understand that we have sanctions against Russia and that those sanctions are meant to “hurt” Mr. Putin and hinder his plans, whatever they may be. By the way, how are those sanctions working for Iran? Have they stopped their efforts to build a nuclear weapon? You don’t have to answer that. It’s a rhetorical question.

What happens when Russia becomes starved for oil?

Don’t answer. That’s another rhetorical question. Especially don’t answer if you are going to tell us that Russia is going to fold.

What’s going to happen is that Russia, and any other oil-starved and/or aggressive nations, are going to align themselves in an effort to do what a man with a starving family will do to get food – anything that is necessary. Right now, Mr. Putin is like King Kong in a cage, and he’s just getting madder and madder. You can bet on it, that once he breaks free and goes after the oil, he will not be going alone.

This will be more than a price war. This will be an oil war, and it will not be good for the people of the UK, the US, Israel, Canada or any European nation. If you think that I am alone on this, you need to read what Fortune magazine has to say about it. Their headline says, “The ruble’s collapse is disastrous for Putin – and bad for you too.”

Tell the people the truth, Mr. Osborne. One Barack Obama is enough for this world.

 

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