So what!?

Those, who like the money for nothing, buy and sell profiteers, may scream and bellow all the way to penury!

Good riddance!

But the Saudis will, I believe, stay the course, given they make more money as refiners, from low oil prices and high margins from their refining enterprises than the rest do from crude oil sales!

And given the potential of things like the Saudi rivaling Edmonton 1.8 trillion barrel reserve, to put further downward pressure on price taker crude oil prices; set themselves up as an independent operator!

Their only viable, independent sovereign nation future, outside the Saudi harming price gouging cartels, simply driving the motorist to an electric future?

No amount of this sort of patent propaganda is likely to sway the Saudis, nor put more profits into the hands of the most unscrupulous people the world has ever known!

GOOD RIDDANCE!

Given all the haircuts some are taking, there must be a quid in there somewhere for a barber with a stay sharp blade? Remember the, murder, bloody murder, man from iron bark?

The complainers have spent years setting themselves up for this sort of, how to thoroughly alienate a formerly captive market!?

The only possible result of entrenched market manipulation?

Simply put, and to the anguished screams of the parasites, the Saudis are doing it better than the rest?
Rhrosty.

I think an oil price backswing is inevitable which on top of a China slowdown will have big consequences. Every day nearly a billion internal combustion engines burn oil that was created millions of years ago. The cheap-to-produce stuff outside Saudi Arabia must run out before long. The Saudis have a growing population dependent on handouts yet they've taken a $US62 bn revenue hit some say.

US frackers and Canadian tar sands may not have much more to give but Iran can export more. Arctic oil is facing resistance. The Saudis are crazy denying themselves top dollar and diminishing a finite resource. Barring world recession by 2020 oil must surely be back to $120 a barrel. Just don't do it before next Christmas and spoil things.

Tas. The Saudis have in recent years built a number of the state of the art refineries, given this day and peak oil was inevitable?

Even so the price of forty dollars a barrel; pales into complete insignificance beside the 500 dollars plus they get for a barrel of refined petrol or diesel!

They are still building refineries?

Incidentally, recent technological advances have made the complete 1.8 billion barrels of Edmonton heavy available to a few logically located pumps?

New technology makes simple gravity their best friend and enables easy access to the entire deposit!

Even if importing oil, well may be cheaper, the Canuks are liable to go for their import replacing own; and save the earned export revenue for something they can't/don't produce?

And in so doing prevent those who see oil as an economic weapon from using it against them.

Nor are they likely to join OPEC, which to date have been an economy harming supplier, price gouging the whole energy dependent world!?

New technology is enabling American producers to recover the natural gas that invariably accompanies oil production, sometimes the only difference in a low margin market, between making a profit or just going under?

Flaring the way until now, to reduce the much more dangerous methane they would otherwise release!

If the aim of the Saudis was to send some of the smaller firms to the wall?

All they've achieved is to force project saving innovation to rise to the top!

What's next for the innovators? Biogas?
Cheers, Rhrosty.

Better those millions of engine burn oil or gas created yesterday! Ancient algae the source of all conventional oil.

Algae absorbs 2.5 times its own bodyweight in Co2 emission. and given optimized conditions; able to double that absorption capacity and consequent oil production every 24 hours! And earn mucho plenty carbon credits! Or more than any other possible mop crop!

Some types produce up to 60% oil as naturally occurring jet fuel or bio diesel and child's play to extract.

All that's required is to sun dry some of the filtrate or that not retained as seed material for further or accelerated production.

The dried filtrate is then simply crushed to extract the ready to use as is oil.

The remaining biomass is eminently suitable as the seed material to support and endlessly sustainable food and arable land free, ethanol industry!

The waste product from that able to underpin a viable endlessly sustainable biogas industry. with the final solids being a carbon rich soil improver!

Carbon credits,$ oil,$ ethanol,$ biogas and a$ carbon rich soil improver!

That's a win/win/win/win/win outcome and cash registers working some serious overtime!

Want to save the Murray/Darling and the planet and make billions while doing it? Really?
Cheers, Rhrosty.