The world is facing something that most of us would have thought impossible just a few years ago – an energy glut. That will have big implications for cutting edge power sources such as Low Energy Nuclear Reaction or LENR as well as the established energy conglomerates.
One impact you’re probably already seeing is at your local gas station. Various sources are reporting that regular unleaded gasoline is now selling for under $2 a gallon around or around 66¢ a liter in some parts of the American Midwest. This is driving up US retail sales, the wholesale club Costco, now America’s second largest retailer; reported that its sales increased by 7% in November.
This is sure to fuel economic growth in the United States and countries that sell to the USA such as China. It’s also sure to hurt countries that depend on oil imports such as Russia where the Ruble is collapsing and Venezuela. One side effect of falling oil prices is that Venezuela can no longer afford to support the Castro brothers’ revolutionary fantasy in Cuba. The Venezuelans were propping up Cuba with their oil money but now they are broke.