The price of oil is at another new low today - good for miners.

The last time prices went to historic lows, Russia very nearly went bankrupt. If their geology is not suitable to fracking, I can't imagine the consequences on the world of having to deal with an economically desparate Russia. Things have been bad enough from them in recent years.

Recall I posted the other day that the Saudi's stopped production limits, so will pump all they can sell at whatever the price many be. They can afford that, Russia can't.