AH they can’t be trusted LOL!
Wonder what we are giving to the Saudis in return?
Because they are Muslims....next question.
I wonder if Saudi Arabia is letting oil prices fall as a way to weaken Iran, which is its biggest enemy.
Prince Alwaleed said yesterday that he agreed with ARAMCO not reducing production:
“Having said that, the decision to not reduce production was prudent, smart and shrewd. Because had Saudi Arabia cut its production by 1 or 2 million barrels, that 1 or 2 million would have been produced by others. Which means Saudi Arabia would have had two negatives, less oil produced, and lower prices. So, at least you got slammed and slapped on the face from one angle, which is the reduction of the price of oil, but not the reduction of production.”
"... if there is a world-wide oil glut, the increased US production must certainly take part of the blame for it. "
Blame? Blame you say? I think CREDIT is the word the author was after. Or maybe not. One man's glut is another man's salvation.
"... if there is a world-wide oil glut, the increased US production must certainly take part of the blame for it. "
Blame? Blame you say? I think CREDIT is the word the author was after. Or maybe not. One man's glut is another man's salvation.
One has to remember that the Saudi’s cost of production is not just the cost of getting it out of the ground, but also the cost of keeping the local yahoos from trashing the infrastructure. That is probably the bigger expense.
They are drilling off shore now at ever increasing depths. They are trying to eliminate competition now while they still have cheap oil. Eventually though those big Saudi Fields will run dry and then they will just be a bunch of yahoos living in the desert.
Factual error in the article.
US oil production isn’t up one million barrels. It’s up MILLIONS of barrels a day, to the point where we’re now out producing Saudi Arabia, based in what I read.
Yes, the free market works every time it’s tried, and it’s largely thanks to the good ol USA that oil prices are falling. Don’t believe that? Take Americas oil production offline for six months and watch oil prices skyrocket back up.
If you can’t trust brutal dictatorships, socialist thugs, and Muslim tyrants, who can you trust???
Seems like the US Govt should be adding to the strategic reserve at this time. Don’t know if they are or not, haven’t heard.
Its the oil money that funds Islamic terrorism. Bomb their ass and take their gas.
They are whipping a man 1,000 times, which will kill him, for making fun of Mad Mo. Can’t trust savages.
Dear sir,
Did you ever read the story about the boy who cried "wolf!"?
HTB
Because they’re enemy islamists, like our punk president.
The Saudi king is more or less history, and there is a power struggle among the clans. As long as the power struggle is going on no one will change the Saudi policy.