Quote:
Originally Posted by 1ViciousGSX
OPEC and the Saudies can't keep their oil prices below $50 for the long term. They are just playing a power grab right now, that's the only reason they did it. You really think that if it weren't for the Keystone vote coming up weeks ago that the price of oil would have came down anyway?
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The major problem is that Saudi Arabia is the largest oil producer in the world and they can control the price because of that. If we produce more than them, supply will overwhelm demand and price will crash unless they cut production. They can always produce cheaper than us and middle east stays rich in oil money. No end ever to oil money for terrorists.