[arthurus]

The drop in oil is being accomplished in large part because the Saudis are dropping their prices to limit the expansion of foreign production and to prevent competitors from getting into the market

You seem to have a cart-and-horse situation here,

[rdcbn]

After the Arab Oil Crisis American oil industry development kicked into high gear fueled by high oil prices.

As those resources came online, the Saudis opened the taps and crashed the price of oil to the $ 10 a bbl. level.

American oil producers list their shirts so badly it took 3 years sky rocket oil prices to convince them start drilling again.

Of course the Saudis are responding to competitive pressure.

History shows they respond ruthlessly and effectively