“Saudi over-production is specifically designed to kill new US oil production. I read some article saying that a week ago...basically the words of the Saudi economics minister.”
And it’s already having an effect. We might be advised to price our oil to the market so that we can continue to explore and produce. We simply can’t allow the Opeckers to hamstring us again. If it takes $50 a barrel to get it out of the ground here, we should be prepared as consumers to suck it up and pay it, then buy whatever we need to cover our total demand at the lower prices. It might be protectionist, but it will save our butts in the long run. $2.50 gas that you can get locally, is better than $1.50 that you can’t with out kissing some raghead’s a$$ and help him fund people who want to kill you and take over your country.
That Saudi prince seems clearly to be saying to me that the intent is to kill US frackers and have them bought up.
I agree with what you wrote here: $2.50 gas that you can get locally, is better than $1.50 that you can’t with out kissing some raghead’s a$$ and help him fund people who want to kill you and take over your country.
The only problem is the US doesn't seem to have a way to keep our oil at home.