The global oil market looks to be settling into a more stable position on Tuesday following the news that National Security Adviser John Bolton was fired. The price of oil fell around $1 a barrel as war fears dramatically fell on Bolton’s ouster.
Fear of the US attacking Iran has put a premium into the global oil market for some time, and Bolton was seen as the driving force in that effort. While he was by no means the administration’s lone hawk, the risk of an Iran war drops substantially on the news.
And while oil prices immediately dropped, there is a lot of hope among oil producers that this will make trade generally more stable and profitable. There is also substantial hope that an EU-Iran deal, which the US had previously rejected, may be back on the table.
The deal would see the EU providing Iran a $15 billion line of credit for 700,000 barrels of oil daily. Financial analysts say the deal is much more likely now, as Bolton was the big opponent.
While some argued that there was more downside risk to oil prices because Bolton would no longer be in a position to angle for a big war, there seems to be hope that this will make long-term development more possible, and pricing out future energy costs more reliable, benefiting many.
Although Trump uncharacteristically did the right thing this time, it would have been nice if he’d never made the mistake of hiring Bolton in the first place. Trump cannot avoid responsibility for making that colossal error. And it makes you wonder whether he has learned enough to make a better choice when he replaces Bolton.
No one can be as bad as Bolton but the names being mentioned so far are less than encouraging. But why should anything change? The swamp hasn’t been drained just restocked with more swamp creatures.
I jumped for joy when an RT breaking story dinged my phone yesterday that said Bolton out and fired. Though whether things change significantly for the better post-Bolton is an open question.
“Though whether things change significantly for the better post-Bolton is an open question.”
It’s certainly hard to imagine anyone worse than Bolton, but the District of Criminals always seems to be able to dig really deep when called upon. One thing we do know is that Bolton’s tenure nearly gave us a war with Iran, and, possibly, war with Russia and WWIII. With him gone, perhaps these things will be slightly less likely.
Things will be slightly less awful here on out so that’s a bit of small comfort.
I guess he should be commended for pausing the ball pean hammering on mankind’s head for a few hours, at least til the new assclown comes in.
“at least til the new assclown comes in.”
Yes, it is hard to imagine Trump bringing anyone with instincts for peace on board. I am open to being pleasantly surprised, but am not holding my breath.
This is good news. While I don’t trust Trump to make informed, strategic decisions, we’ll see just how this changes things in foreign policy – how much of a bad influence Bolton was, and how much bad influence remains (I’m looking at you, Pompeo.) Who knows the real reason he’s gone? It *could* be that he and Trump disagreed on policy issues, but it’s more likely that Bolton wasn’t obsequious enough, or otherwise slighted Trump and hurt his fragile ego, and we all know that doesn’t fly in this White House.
WWIII averted, climate apocalypse assured.
“There is also substantial hope that an EU-Iran deal, which the US had previously rejected, may be back on the table.”
Why? Trump promised to kibosh the nuke deal while he was a candidate. Are the bone crushing sanctions going to end? Are we going to bring the massive amount of military assets and close the bases in neighboring countries that currently surround Iran? Bolton was just a symptom, the disease will continue to spread.
Wars you are absolutely right I agree 100% with you, Bolton was just a symptom, until the Zionists (be it Jewish or Christian) and their minions that infiltrate our country are removed from the American political scene we will always be at their mercy.
Americans need to wake up and smell the coffee, our political system has been hijacked by them because dual citizens like billionaires Sheldon Adelson and Haim Saban with their money unfortunately dictate our politics.
“the risk of an Iran war drops substantially on the news.”
No, it doesn’t. Bolton may have been the noisiest neocon in favor of an Iran war, but he was certainly not the only one. And all of the forces in favor of an Iran war remain in place around Trump.
No one individual – including Trump – can prevent an Iran war.
Besides which, this was pretty much inevitable. As Colonel Pat Lang has noted many times over at his blog, Trump is a “manager” who likes firing people – he’s known for it. He even said he would fire his own daughter “like a dog.” How many other people has Trump fired in 2-1/2 years? I’ve worked for people like him myself – although I quit before I could be fired.
And we haven’t see Bolton’s replacement, either.
No war with Iran….Otherwise Trump will be sacked!
the acting guy is one of Boltons minions so i think that the permanent replacement will be pretty similar. John just wanted out of the spotlight
I wish Justin Raimondo was still alive so I could enjoy watching him praise Trump for sacking Bolton after praising Trump for appointing Bolton in the first place.