The Saudi Oil Price War Is Backfiring

Oilprice.com ^ | 08-07-2015 | Wet Towel

[Bubba Ho-Tep]

It could implode and crush the royal family soon

Be careful what you wish for. It's not like a western democracy is likely to take their place.

[Mr Radical]

"Saudi Arabia is returning to the bond market with a plan to raise $27bn by the end of the year, in the starkest sign yet of the strain lower oil prices are putting on the finances of the world’s largest oil exporter... Fahad al-Mubarak, the governor of the Saudi Arabian Monetary Agency, said in July that Riyadh had already issued its first $4bn in local bonds, the first sovereign issuance since 2007.
Financal Times August 5th 2015

[bestintxas]

one who depends upon nothing but natural resources is not viable unless there is a demand for same.

Russia has no large technology company, insurer, bank or other businesses which are sought after independent of natural resources such as the Western World possesses.

That lack of diversity under the current dampening of oil prices is telling.

[1010RD]

There’s also the theory that the Saudis are not keeping prices low, but the market is.