Posted on 11/30/2014 9:20:33 PM PST by Vince Ferrer
Saudi Arabia and the core Opec states are taking an immense political gamble by letting crude oil prices crash to $66 a barrel, if their aim is to shake out the weakest shale producers in the US. A deep slump in prices might equally heighten geostrategic turmoil across the broader Middle East and boomerang against the Gulf’s petro-sheikhdoms before it inflicts a knock-out blow on US rivals.
(Excerpt) Read more at telegraph.co.uk ...
“We can survive rock-bottom oil prices.”........Never gonna happen as long as odumbo has the wheel. He told us he wanted $8.00/gallon gas prices and by damned, he’s going to get it one way or the other. Lets all hope this is another of his “dreams” going up in smoke.
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