In this neck of the woods the benefit to lock ins is really in being considered a #1 customer of an oil delivery service that also does service; you're not getting the cheapest price on oil but there are service benefits (e.g. 24 hr call number/response, etc).
All of a sudden, Iraq is in crisis. The second biggest city is fallen. Baghdad is threatened.
Iraqi soldiers, police drop weapons, flee posts in portions of Mosul
CNN, Fri June 13, 2014
"I only ... saw armed people, but not Iraqi military," said resident Firas al-Maslawi of his drive through Mosul on Tuesday. "There was no presence of any government forces on the streets, the majority of their posts destroyed and manned by (Islamist militants)."
The numerous reports of police and soldiers running from their posts in Mosul raised the prospect that the Iraqi government did not either have the will or resources to win this and other fights.
Iraqi security forces, trained by Pentagon for years and well equipped with helicopters, tanks and armoured cars, vastly outnumber the jihadists, suddenly melted down in the face of ISIL rebels.
Consider Al Qaeda jihadists are created and supported by the US to deal with its dislikes (such like Libya’s Gaddafi and Syria’s Assad) and the current Iraq government is a puppet set up by US in Iraq war, both sides are US’ assets. I think it’s a drama conducted by the US. You can see the leadership of Iraqi troops gave up the city without any fight.
ISIS butchers leave 'roads lined with decapitated police and soldiers'
BySam Greenhilland Jill Reillyand Kieran Corcoran 12 June 2014
According to bitter Iraqi foot soldiers, their commanders slipped away in the night rather than mount a defence of the city.
One said: ‘Our leaders betrayed us. The commanders left the military behind. When we woke up, all the leaders had left.’
US inside group used to create a case, with which to ask for more power and money. E.g. the 911 attack has been created to get Patriot Act and two wars in Mid-East. What is it now for this Iraq crisis?
839. Iraqi crisis created to save dollar (6/18/2014)
In early June, Russia switches the oil payment from dollars to Euros.
Gazprom Signs Agreements to Switch from Dollars to Euros
Global Research, June 07, 2014
Gazprom Neft had signed additional agreements with consumers on a possible switch from dollars to euros for payments under contracts, the oil company’s head Alexander Dyukov told a press conference.
“Additional agreements of Gazprom Neft on the possibility to switch contracts from dollars to euros are signed. With Belarus, payments in rubles are agreed on,” he said.
Dyukov said nine of ten consumers had agreed to switch to euros.
This is very important news. If people starting to abandon the dollar, US will be hurt seriously in economy. Yet the news was little reported by the mainstream media. Several days later, the ISIL rebel in Iraq activates an offensive. The puppet Iraqi government retreats without any resistance. As a result, the oil price goes up.
Oil prices spike as Iraq violence flares
By Mark Thompson @MarkThompsonCNN June 12, 2014
Oil prices spiked Thursday to levels not seen in nine months as escalating violence in Iraq sparked worries about crude exports.
Light crude oil futures touched $106 a barrel, up nearly 2% and the highest price since September 2013.
Since the money used in most oil trading is dollar, the higher oil price will force the buyer to keep more dollar in bank as purchasing power. It’s a big amount if future option is included. Manipulating oil price becomes a strategy to save the dollar. Iraq is a big country of oil production and exportation. Its political stability has huge influence to oil price. US has turned it into a switch to adjust the oil price.
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