They have to keep oil prices low to make US shale unprofitable.
Eventually, as their easily-accessed oil is gone, that tactic will no longer be profitable.
And the US shale supplies will still be there.
Saudi’s have already been investing in more costly heavy oil production. They don’t have a surplus of cheap oil to keep up the production rates.
Facing Up to End of ‘Easy Oil’
http://www.wsj.com/articles/SB10001424052748704436004576299421455133398
May 24, 2011
Right. And all the while, US frackers will be improving their processes, shaving costs, increasing their yields and being able to ramp up production quickly. If a business-oriented candidate can be elected, US oil, armed with the new fracking skills, the Green River Formation might finally be able to be tapped - ending US economy-as-hostage to volatile world oil pricing.