[woodbutcher1963]

I believe Saudi Arabia will make plenty of money at this price or even substantially lower. Who this hurts is Russia, Venezuela, Iran and other high cost producers. Keep in mind these are the enemies of SA. It is also good for the economies in Europe & Japan because it may keep them from falling further into recession. It is also good for China and other major consumer countries. It may slow down some horizontal drillers but I believe it would have to drop into the $50s to cut it off. It is also good for the US economy in general if the price of diesel fuel would go down. This effects the delivered price of everything we purchase from shoes to bananas.

[bestintxas]

These are decidedly not high cost producers. Example of high cost is USA.

These are all countries that depend heavily on oil revenue and take an inordinately high take on oil production which makes them unattractive to most foreign investors.

Translation: they suffer the most when prices fall