$30 Oil..a Saudi Spring A Coming?

[karlunity]

$30 oil ?
The Saudis have done this again and again; dropped the price to keep market share and prevent others from competing in the oil game.
it will effect the petrol dollar since people will have to buy less dollars to pay for oil not good for the USA.
Cheap oil depresses the Russian Ruble...not good for Russia.
I think that if the Saudis push it too far..the Russians and Americans may decide that it is time for a Saudi "Spring"

I know that we are at dagger points with Putin now..but so were we with Stalin until we saw Germany as the greater danger.

If the USA and Russia decide that the Saudi are gone...the Saudi are gone.

 

[Dr.Hess]

There is some conjecture that the US asked the Saudis to drop the price of oil to punish the Russians. I suspect it was also done to boost our economy. While the total dollars spent may remain the same, the dollars not spent at the pump (and heating oil, etc.) will instead to into consumerism stuff. That is, more cheap crap from China, cars, houses, etc. instead of to the oil companies/Saudis.

As a side note, low oil prices hurts our domestic energy industry a lot. I think they are sacrificing it to attack the Russians. This is an economic war (for the present.) And cheap oil helps China more than anyone else in the world.

[ken98k]

Wasn't so long ago when we were shocked by gasoline going over $3.00 and Gdubya told us it was a temporary thing, and the price would come back down in the fall.

Well, 11 autumns later he is finally right.