Quote:
Originally Posted by sc_rufctr
It's simple really. Old School economics... If you can, Destroy your competition.
The Saudis like that the West depends on them for oil.
It's been like that for generations and what they don't want most of all is for their grandchildren to be driving camels again.
|
This. While they are getting less per barrel, they are producing a lot more oil. Most of the competition can't ramp up and down output. They want to kill shale oil. And killing off Russia and other countries that rely on oil for basic functions.
Everyone's favorite socialist country, Norway, will be having a serious decline in revenues...The tiny country is the 8th largest producer of oil.