[Steely Tom]

Previously we documented that as a result of the still low oil prices, largely a result of Saudi Arabian strategy to put high cost producers out of business and to remove excess supply, none other than Saudi Arabia has been substantially impacted, with the result being dramatic state budget, a sharp economic slowdown and mass worker layoffs.

Some might call that "a stupid move."

I wonder if that has anything to do with the big shakeup in the Saudi royal family we've recently read about.

[cpdiii]

Oddly enough Saudi did us a great favor. We have been getting cheap oil for the last year and a half. We know how to frac wells and bring on vast quantities of oil at the right price. The Fracking industry has gotten lean and mean. Market forces do work and they are working against the Saudis.

Many companies went bankrupt do to the low cost of oil. When oil hits fifty to sixty dollars and stabilizes at that price for a length of time, companies will spring up like weeds and drill, and frac and produce our oil.