[jttpwalsh]

As much as I like paying less for gas, be aware, this is all about OPEC, particularly our ‘pals’ the Saudis, driving down the price, in order to put US production, via fracking, out of business. Once this happens, the price will shoot up, like a rocket.

Thanks.

[JRandomFreeper]

Where does that oil go? Does it disappear if some companies go bankrupt?

I'm familiar with bankrupt oil companies, being from Texas.

/johnny

[terycarl]

As much as I like paying less for gas, be aware, this is all about OPEC, particularly our ‘pals’ the Saudis, driving down the price, in order to put US production, via fracking, out of business. Once this happens, the price will shoot up, like a rocket

you are 100% correct...however if we play this right by subsidizing the industry for a while, we will win big. Saudi Arabia, Russia, Venezuela etc. all depend on high oil prices just to survive....we don't. Keep the prices as low as possible and let them die on the vine...2 years should do it.

[Kenny Bunk]

Saudis, driving down the price, in order to put US production, via fracking, out of business.

Yup. Look for the enviro-weirds to start the "running out of oil" narrative. BTW, real Saudi cost of production? All in, amortizing everything: Under $5/bbl. Reserves? Many centuries.

Also BTW, Saudi Royals, about 4 tiers of them and their hangers-on, creaming billions off the top. Saudi welfare state: occasionally runs short of cash. Saudi Arabia is run by the House of Saud just as Tony Soprano ran New Jersey on TV. Every Royal has a crew and and a piece of all the commercial action in the country. There's a McDonald's Prince, a Mercedes Prince; etc. i.e., absolutely nothing happens in the KSA before the Prince in charge of that sector gets paid.

[9YearLurker]

Fracking is still profitable down to something like $40/barrel. OPEC is unlikely to take and sustain prices below that, but even if it did, they’d still lose out to American competition once prices rose again.