The question is, why did the King of Saudi Arabia — the leader of OPEC — decide to keep oil flowing at a rate that he knew would cause oil price to collapse NOW, instead of years ago?
It has always been in Saudi Arabia’s interest to keep the price of oil low enough to end fracking here and to bring Saudi Arabia’s Shiite enemies — particularly Iran — to their knees. But why is this happening NOW?
Maybe it’s because Barack Obama stabbed Saudi Arabia in the back when he suddenly lifted sanctions against Iran last year, thereby allowing Iran to keep its nuclear program going at full speed and also freeing up billions of dollars for Iran to use for funding Shiite terrorist groups like Hezbollah and supporting the Syrian dictatorship.
There’s a Sunni vs. Shiite war going on in the Middle East, and Obama has taken the side of the Shiites against Sunni Saudi Arabia and its allies. So the King of Saudi Arabia has finally said, No more Mr. Nice Guy, and has put its own interests above those of its new pro-Iran enemy, the U.S. under Obama.
The Saudis are now determined to economically destroy Iran so that it can’t create nuclear bombs which will be aimed at Saudi Arabia.
So when will oil prices go up again? When Iran’s economy has been wiped out.