Apple 1 computer at auction

[Judge]

Our Marcellus Shale oil is what drove the demand down. we finally killed their market

Actually many of our smaller domestic oil operations cannot indefinitely or profitably extract oil below $50 a barrel. The Saudis can go down almost to $30 a barrel before they are deficit spending with regarding to the cost of their own infrastructure. But then note how the oil futures market seems to stay near or above that $50 mark.

Tolerable for the US, and just plain bad for most other oil producing and exporting nations. I got out of oil last year, before the slide. Don't plan on going back in any time soon.

 

[Nitro]

Our oil buying at the highest price is what drove many of their economies. They don't have much more to offer besides black gold. I am sure that even at the low price they are selling at,they took a major hit.

 

[Judge]

Our oil buying at the highest price is what drove many of their economies. They don't have much more to offer besides black gold. I am sure that even at the low price they are selling at,they took a major hit.

I suppose that really depends on what you really consider to be "a hit". The Saudi Royals can take those "hits" as long as they don't go below $30 a barrel. Basically one royal family controls the entire country as a command economy. Unlike the US, they aren't responsible to shareholders or voters. In essence, they have freedom of action that other nations simply don't have.

But personally I honestly don't think this is even directed against the US. It's impacting certain other nations far more negatively. Which appears to work for us almost as much as Saudi Arabia...but for reasons other than the market itself. Or those who are losing their jobs in places like North Dakota's Bakken Shale. Could be worse though...at least we're not talking about the cost of extracting sand oil in Canada.