Oil Crash is Kicking Off One of the Largest Wealth Transfers in History
I'm really having a hard time with the current market conditions. Ok, so the Saudis are acting to stop fracking, oil-shale exploitation and all of the other increases in production from non-OPEC countries. Again. Yay.I get that low oil prices mean bad days for energy companies, many "emerging" countries, and the financial markets, to whom any news is bad news.But in the "developed" countries, this makes literally everything else cheaper. In the short and medium term, yay. And when the Saudis have made their point, they'll drop production, prices will go back up, everything will return to normal, more or less.So why is everyone worried?