oil price crashed below 30 a barrel

[LeGenD]

Low oil prices not a blessing for any country it will crush many economies, no new oil related project or new oil research, all the existing projects cancelled or being shut down since oil is already bottom low, new project can't even cover their basic costs. A question how it is bad let my explain after 2 to 3 years every oilfield need new drilling and overhaul but since companies who do this closed down or move from the area can't regain working strength so soon or urgently and with in 1 year oil will ultra short from the market and jumps straight to +200usd all the big countries like Saudi instantly recover their past losses but developing countries will crush under heavy prices and then another eminent recession is on they way.

Oil have started to loose its worth because some countries are exploring alternative sources of energy to meet their needs and moving towards self-sufficiency.

When oil used to be a highly sought-after commodity, (major) oil-producing countries began to influence geopolitics worldwide. These countries got away with bullying and setting trap for others. In the aftermath, millions have died and several countries have suffered.

Look at GCC states for example. They are busy building cities and palaces of glass but they;

1. Fund extremist elements in other countries and engage in proxy-wars in them
2. Do not give much aid to struggling economies within the Islamic bloc.
3. Do not work for regional stability
4. Partially responsible for destruction of Iraq. (They envisioned the same fate for Iran and Syria as well.)

Islamic bloc at large doesn't benefits from there wealth.

So what shall be done about this madness?

World will thank President Barack Obama one day. Trust me.