To be more precise OPEC is trying to shut down our fracking.They can't be allowed to succeed.
Exactly. And with the help of the left and that jug-eared jackass in the White House, they just may succeed.
They can only succeed by lowering their prices, which helps every other industry in America. If they succeed in shutting down our oil industry, and we are very close to producing as much as they do now, they will bankrupt individual companies, but the oil will stay in the ground, waiting for the price to go back up. The oil in the ground will act as a ceiling for their prices.
Meanwhile, the price they have to sell their oil at to shut us down is low enough that it will hurt many countries that aren't friendly to us anyway, including sponsors of terrorism. We still end up mostly winners.
Who do you think is going to stop them? BHO is kicking Bo the dog, thinking, “Why didn’t I think of this?” At least in the short term, our buddies the Saudis are going to hurt our domestic energy companies harder and faster than BHO ever dreamed.
It is going to hurt the Ruskies, Venezuela and Iran more than us.
As someone posted the other day, our oil is in our ground, and ain’t going anywhere.
“To be more precise OPEC is trying to shut down our fracking.”
Although Use market share (and hence, influence) is important to the Saudi’s it has NOTHING to do with the Saudi’s chopping prices, and opening the taps.
Nor does it have anything to do with Russia, though some would like to believe that.
For the Saudi’s, THIS IS ALL ABOUT ISIS.
ISIS is a dagger pointed straight at Mecca, and the Saudi Royal Family. ISIS gets its money from the sale of oil, and the sale of oil by it’s supporters.
What happened in the OPEC meetings this week was over-shadowed by all of the Ferguson coverage, but tells us everything we need to know.