[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.

[r_barton]

But when the price goes back up (and it will), what stops our domestic wells from pumping again? Don’t have to transport domestic crude from middle east, so it will still be cheaper.