Will Saudi Arabia crash their own production again to keep prices high?

Will Saudi Arabia crash their own production again to keep prices high?

  • Yes

    Votes: 4 57.1%

  • No

    Votes: 3 42.9%
  • Total voters
    7
  • Poll closed .
Error Correction Funder

Error Correction Funder

To keep prices at $60
Inflation_Adj_Oil_Prices_Chart_650.jpg


they crashed production from 10 million barrels per day to 2:
HamiltonshalepainE.png


They could always use their balance sheet. https://ieconomics.com/saudi-arabia-government-debt-to-gdp
 
No they are trying to pump as much as they can and sell it whilst still demand. Stone age didn't end because they ran out of stones......

Brazil with deep sea oil and tar sand in Canada now act as upper price limit. As price rises these alternatives kick in.
 
toc said:
Talking of alternatives the biggest danger to oil prices is the electric cars and solar powered electricity and energy
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For somethings like aviation fuel and plastics you still need oil as starting matetial but solar / electric cars now also act as price limits by reducing demand as price rises....and the Saudis know it. In 1970s / 80s there were no other alternatives.

https://www.economist.com/node/2155717

And once the demand for oil goes I expect the US / EU to no longer prop up the last remaining absolute monarchies in the world or keep sending troops there to ensure supply.
 
Last edited:
Jakobsberg said:
For somethings like aviation fuel and plastics you still need oil as starting matetial but solar / electric cars now also act as price limits by reducing demand as price rises....and the Saudis know it. In 1970s / 80s there were no other alternatives.

https://www.economist.com/node/2155717

And once the demand for oil goes I expect the US / EU to no longer prop up the last remaining absolute monarchies in the world or keep sending troops there to ensure supply.
More...

The shift from crude oil to "other sources of energy" will not happen for another 90 years at least. It is a no-brainer.

For now, crude will rule.

http://www.businessinsider.com/electric-cars-oil-price-2017-7
 
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