Quote:
Originally Posted by troutman
My Dad (retired from petroleum career) said what the Saudis are doing is trying to prevent the USA from becoming less reliant on foreign oil. His theory was all over my head, but does this make any sense?
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Yes, it's all about market share which is threatened by new oil in the US among other things. If they can keep the price of oil lower than the cost of new shale oil then the US would stop bringing new oil on line. Whether there lives are specifically targeting the US vs. Russia and Iran is debatable but he latest quotes sure make it seem like they want the US to blink on overall production.