Quote:
Originally Posted by bsimms
So if the Saudi's are going through approx 95 billion/year, and this downturn is approx 1 year old... they only have 6.5 years until $0. What will Alberta look like in 6.5 years from now with sub-forty dollar oil? I think the Saudi's will be just fine, but not so sure about us.
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The Saudi's can probably outlast us but not by much. The bigger issue for them is the other OPEC countries that don't have the same cash reserves and cannot last nearly as long. They are already beginning to pressure the Saudis on prices. How long this can go on before someone blinks I honestly don't know but I think sooner rather than later someone will have to.