FieryVulpine FieryVulpine:
For as bad off as Alberta is, I imagine this price war will bite the Saudis even harder as their economy is even more reliant on oil. What else do they export, Wahhabism?
Actually, they are fine with cheap oil as well.
Cost of getting oil from the sandbox is very low, as opposed to fracking or
them evil tar sands.
Saudis would be fine at $15-20 a barrel; too low for everyone else to pump,
and they get all the market, even if in recession.
Added bonus for them, any kind of electric car now becomes too expensive
to arrange. They needed oil at over $100 a barrel, and massive gov't subsidies
to even think about selling cars. At $20 a barrel, forget it.
The fun part is watching some people think that any change in Canadian output
would make one iota of difference.
