January 26th, 2016 commentary by Ralph Winnie, Jr in Sputnik News-Impact of Michael Bloomberg on the 2016 U.S. Presidential Election

Business and political analysts claim that former New York Mayor and billionaire Michael Bloomberg could draw on a widespread hunger by US centrist voters for an ideology-free approach to politics and national problems.

WASHINGTON (Sputnik) — Former New York Mayor and billionaire Michael Bloomberg could draw on a widespread hunger by US centrist voters for an ideology-free approach to politics and national problems, business and political analysts told Sputnik.

"The fact that rumors of a Bloomberg candidacy is gaining so much traction is very telling in itself," Woodrow Wilson Center political and economic analyst Shihoko Goto said on Monday. "There's obviously a hunger for his pragmatic approach to politics, that's not being delivered by Trump, even though he markets himself as an entrepreneur."

On Saturday, the New York Times reported that Bloomberg, who served three terms as mayor of New York City, was considering entering the US presidential race as an independent candidate.

"Whether or not a Bloomberg candidacy is feasible at this stage in the election game, Bloomberg appeals to those middle-of-the-road voters from both the Republican and Democratic camps," Goto noted.

The leading candidates from both sides have been characterized by extremism, and there is growing concern that whilst such rhetoric is appealing on the campaign trail, it does not necessarily lead to practical policies, Goto suggested.

"At a time when the world is facing grave hurdles, from global economic unrest to growing security threats… the ongoing fall in global markets would add to Bloomberg's allure," she said.

The former New York mayor had the credentials and credibility to plausibly present himself as a figure of stature, Goto argued.

"Bloomberg would be poised as the candidate with experience, both in politics and in business. He would certainly be welcomed by many of those in overseas capital, as someone who would be pragmatic," she added.

The biggest hurdle that Bloomberg would face as an independent candidate is that traditionally, third party candidates have not been able to fare well in US presidential elections, Eurasian Business Coalition Vice President Ralph Winnie told Sputnik.

"They have never been able to win outright. But they do have ability to affect the results for the other candidates," Winnie said.

In 1992, Texas billionaire H. Ross Perot took two votes from incumbent President George H.W. Bush for every vote he took from Governor Bill Clinton, and appealed to voters who had rejected Bush because he broke his pledge never to raise new taxes, Winnie recalled.

"In 2000, [Green Party candidate] Ralph Nader tilted the election to the Republicans. He took 3 million votes away from Al Gore, the Democratic candidate," he added.

Winnie noted that Bloomberg had very strong business credentials appealing to establishment Republicans, but he also held very liberal positions on gun control, gay rights and abortion.

"Bloomberg can take a lot of votes potentially away from the Democrats. He is the anti-Trump and anti-Sanders candidate. He is strongly opposed to Trump on the issue of guns. He is opposed to Sanders on regulating the banks and financial institutions," Winnie pointed out.

If Bloomberg entered the race, he could hurt badly Democratic frontrunner Hilary Clinton since a lot of Democrats have not been enthusiastic about her and have been looking for some alternative, Winnie observed.

Saudi Arabia Uses Cheap Oil to Boost Market Share, Destroy Iran’s Economy

Saudi Arabia has dropped its oil prices to try and wreck the Iranian economy and keep Tehran’s oil exports out of major European markets, international business analysts told Sputnik.

WASHINGTON (Sputnik) — Earlier this month, Saudi oil giant Aramco announced that it would cut oil prices for Europe, apparently in preparation for Iran’s resumption of oil exports to the region later this year.

"The Saudis are looking to gain a competitive advantage: this is a response to the lifting of Western economic sanctions on Iran allowing the Iranians to reenter the global energy marketplace," Eurasian Business Coalition Vice President Ralph Winnie said on Monday.

The Iranians had high hopes of rapidly expanding their oil revenue once international sanctions were lifted in accordance with the P5+1 nuclear agreement, Winnie explained, but policymakers in Riyadh are determined not to let that happen.

"The Saudis are looking to pull the rug out from under the Iranians," Winnie observed. "They are looking to gain a stranglehold on global supplies and price setting and re-establish themselves as the key global swing producer."

Saudi Arabia’s dramatic price-cutting polices hurt it badly in the short term, but Riyadh was gambling that its high-risk strategy would pay off in the long run, Winnie noted.

"For the Saudis, the fundamental issue is dominant market share," he added.

"They calculate that the price of oil will rise eventually and when it does the suppliers with dominant market shares will gain the most. They intend to be the first destination for reliable supplies of energy."

Riyadh also sees the opportunity to expand its share of the domestic US market following the collapse of the US fracking industry as investment in fracking is no longer profitable, Winnie maintained.

"The Saudis therefore feel they can reap the benefits of the collapse of the fracking technology sector in the US domestic oil industry," he said.

Executive Intelligence Review senior editor Jeff Steinberg told Sputnik that by slashing their oil prices, the Saudis were targeting the US and Russian oil producers as well as the Iranian ones.

"Saudi Arabia is bleeding through reserves, through heavy costs of the losing Yemen war and the revenue losses due to low oil prices, which the Saudis created by over production, targeting Russia and US shale oil, which are the Saudis’ two biggest rivals," Steinberg argued.

The Saudis were locking themselves into a self-ruinous cycle of equating low oil prices with their international prestige, Steinberg warned.

"A boost in oil prices led by the Saudis would be a signal that they have not succeeded in beating out their rivals, and now face major internal security problems due to the budget shortfalls, which are unsustainable," he stated.

The low price strategy was being pushed by young Crown Prince Mohammed bin Salman, but he was rapidly losing credibility across the Middle East, Steinberg noted.

People close to the Saudis, Steinberg added, are skeptical about Prince Salman and his schemes.

"There is a simmering revolt inside the Royal Family, and the number two, Crown Prince Mohammed bin Nayef, is battling against being dumped to pave the way for Mohammed bin Salman to replace his father [King Salman]," he observed.

Maintaining low oil prices also served to exacerbate the Sunni-Shia divide in the Middle East, Steinberg concluded.