[TigerClaws]

Spoke with a man yesterday. His company laid off 120 people.

This will also make the Saudis vulnerable to collapse economically - and collapse that kingdom.

[Cowboy Bob]

I'm trying to think of the downside of the collapse of Saudi Arabia...

Thinking...Thinking...Thinking...

[central_va]

Sarah was right.

[Dallas59]

The Saudis. Don’t need them.

[Maine Mariner]

Oil priced between $20.00 and $30.00 cannot be good for Iran or Venezuela either.

[r_barton]

How soon until they pay us to get a fill up? ;-)

[luvbach1]

I noticed the 0bomb took credit for the low gas prices in his SOTU speech.

[MeneMeneTekelUpharsin]

Beware, the winds of war approach...

[montanajoe]

Everybody, including the companies here will collapse years before the Saudi’s.

Back in 74 they used their reserves to increase the profit to far above production costs. Today they are using the profit accumulated over those years to crush any competition.

The Saudi’s can withstand 8 buck oil. nobody else can.

[Zhang Fei]

Spoke with a man yesterday. His company laid off 120 people. This will also make the Saudis vulnerable to collapse economically - and collapse that kingdom.

Unlikely. The al Sauds are pious enough. The revolts in Iran (1979), Egypt, Libya and Syria occurred because the rulers were irreligious. It's a global phenomenon in majority Muslim countries. The rulers are expected to be holier than Muhammad. That is why so many are edging towards imposing shariah law. Not because the rulers want to, but because if they don't, somebody else will, over their dead bodies.

[RockyTx]

this story is made up.
..........

KSA is at war with Iran, and their friend Russia.
KSA will pump as hard and as long as, *Russian money* holds out.

... *any estimates* on how long that is?

[vette6387]

“This will also make the Saudis vulnerable to collapse economically - and collapse that kingdom. “

It’s also really bad news for both Russia and Venezuela. Actually, there are numerous countries that depend on oil revenue, that have “pulled a USA” and spent beyond their means who have no alternative and may go under too. It would tickle me to no end to see the whole ME go bust!

[familyop]

Old article but still very relevant. Here's what the sponsored propaganda didn't tell you. Surprise. Have fun. Enjoy the slide and international festivities.

Putin Plays Down Russia's Deadly Dependence on Oil & Gas Revenues
OilPrice.com
By Al Fin
30 October 2012

Russia's federal budget is reliant on commodities revenues - according to official data, commodities contribute around 60 percent of the federal budget; in reality, that number is closer to 75--80 percent as much of the service sector depends on money from oil and gas. _Russia's Oil Luck or Curse

So, Putin claims a 50% dependency. Official data puts the number closer to 60%. And "in reality," the number may be as high as 80%. Or perhaps even more.

And as for the propaganda about the collapse of China every week since the end of 2004, Captain Cook ('ave a look).

Automotive industry in China
Wikipedia

While most of the cars manufactured in China are sold within China, exports reached 814,300 units in 2011.[4]...In 2010, both sales and production topped 18 million units, with 13.76 million passenger cars delivered, in each case the largest by any nation in history.[8] In 2014, total vehicles production in China reached 23.720 million, accounting for 26% of global automotive production.[9]

More than a little consumer demand and decoupling happening there.

[familyop]

And as for the propaganda about the collapse of China every week since the end of 2004,...that was a typo. I meant to write since the end of 2007.

[familyop]

Russia’s break-even price was about $102 as of around mid-2014.

[Zhang Fei]

ping