It's official: Saudis are flooding markets with oil according to mainstream news

Saudis are US allies, this is part of the war against Russia. Wars aren't fought with main battle tanks rolling across europe. They are fought with money, cyberwarefare, and intelligence leaks.

I think we are going to see a stalemate at about 60, I think it will come down to who can hold out at that price the longest.
USA Russia Saudi my bets are on USA I assume USA still has the highest domestic consumption so let's enjoy... For the moment.

So why exactly did we let them get away with the 9/11 attacks, and why are we letting them destroy our fracking industry? Why are we risking war with Russia for them?

Seems to me like Saudi Arabia is our enemy #1.

Allies turn and churn - weak mean fall to false sirens - the Call of Truth is approaching

Never ever ever ever will it ever be less than $2/gallon in the USA again !
Ever

This is a time to see opportunity. Buy the gas efficient car now, when demand by dumb consumers is low and bargains are for the taking. Buy oil stock now, and just hold it. Plan for the cycle, isn't it obvious by now?

The news cycle in two to three years is going to be "oil prices skyrocketing, fuel efficient car sales through the roof along with oil prices".

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YES -- finally people are getting it!!!

stop being cryptic and spill the beans.....dickhead.

This. I had moved to the city I'm in about 7 years ago now and here recently, traffic has been worse than ever at around 5pm. some areas I go used to never be this bad. i think anything around here, more people are actually working lol...maybe ebcause now they can afford gas and not car pool? lol

True but if it hits to 50 cents again you won't be able to say back in the day anymore so.....DOOM ON!!!!!!!!!!!

Oh man... Thanks for the laugh I needed that

Snitch ass goat!

This is about Russia and China. The Russians are hurting BAD because of:

The sanctions

Drastic drop in oil prices

The oil deal China dictated to Russia

I can remember 25 cent. about 1971.

Money has never been the issue. Shale oil has EROEI < 1 no matter how many quadrillions of $hit is thrown at it, and unless one actually burns all that $hit in an oven, shale oil EROEI is going to stay way, way below 1 forever (which means that the more one uses shale oil, the faster one depletes all other forms of energy). Everybody knows that.

Saudis wouldn't be flooding market with their oil if they knew they had enough of it to last for at least a decade. They don't have that much left anymore, and they (the Saudi royal family, not the country) have been promised something in return by the U.S. The only thing that makes even remote sense is protection when the nukes start going off all over the place and re-institution of Saudi rule (as "emperor-kings" or some other nonsense) over the most near and Middle east (every single oil-rich country in vicinity, for certain). Those are all just empty promises, of course, but fools stick to such promises like flies stick to crap. One can always count on fools to be like that.

This is the last step in the U.S. strategic preparations for a sudden nuclear strike on Russia. There will be no more warning signs (of which have been plenty in the last couple of of decades, but ever single one of them was promptly ignored) before the first nuke wipes Moscow off the face of the Earth.

One can tell all kinds of nasty things about U.S. but one thing it knows very well is how to survive at the expense of everybody else.

Russians, on the other hand, are imbeciles who don't stand a fucking chance of surviving what is coming to them. Serves them well, I say. There are already too many imbeciles on this planet and having to deal with a whole nation of them is just too much for anybody's taste.

Didn't someone say it's beneath 2 bucks in Texas now? Anyone from Texas?

Arrraskaa will be pivotal. Our next President will be from Alaska...


So going back to Putin - he will play with Arraskaaa he knows they are self-determined.

EU is yet to be determined.

Russian are Whitey. You know Whitey equate innovation, as long as not poisoned with political correctness. If there's no war, their 30 years oil contract with China will give them stable income despite of getting less. This may be the reason why we don't hear any incitement toward war from Russia. In fact being squeezed during hard times may stoke their creativity in expanding to other areas beside oil and gas. It's resilient people nature, people will be more serious and focus when facing hard times and may even come out glorious. Let's see what innovation that can come out of Russia.

That milf Palin?

I'd like to see $10 a barrel so I can start joy riding again.

But but Goldman Sucks AKA the Govt of the USA makes most of the money doesn't it?

Libyan oil is $1 a barrel, so where is the other $39 going?

Who it's hurting depends on your perspective.

For example, cheaper exports are helping manufacturers and exporters in Iran and Russia. Their economies are actually improving because of this.

Also, with the Russian-Iran banking system in place now, Tehran is circumventing the sanctions.

As for Russia, they're launching the Eurasian Economic Union next month and an alternative to the SWIFT international banking system in May.

By the end of 2015 Russia, China and Iran will not need the US Dollar anymore as they will have their own self-sufficient systems in place.

So who is this really hurting?

Is the Dollar really protected or do the facts say otherwise?

Better load up on oil futures, cause it ain't going to last.

I have the displeasure of living in the shit hole known as Houston. Traffic is worse than ever here. I am from here and it wasn't always a shit hole. All the west coasters and illegals started moving here and fucked it up though. People need to go the hell back where they came from and fix their home shit holes that they fucked up through voting D or apathy rather than coming here and fucking up my home town.

That smiley is outrageous! I want a gif like that with Francois Holland!

Gas prices will bounce back and they will be even higher than before. You mark my words.

You be a naive fool if you think cheap oil will mean cheap gasoline. You don't see unleaded crashing and you never will.