racket wrote:
Forgive my ignorance or if this has already been discussed, but why should we or anyone do what Saudi Arabia wants? Their only export is oil and they have everything to lose. This seems like a storm the US can weather so why not take a power position and turn the screws. If you're neck and neck with someone at mile 23 in a marathon and you know they're finished, you wouldn't slow down the pace just because they asked. You turn the screws and make them suffer :)
Plus I drive an SUV and I like cheap gas
here's a decent piece on the problem of cheap oil
http://www.economist.com/news/leaders/21688854-low-energy-prices-ought-be-shot-arm-economy-think-again-whos-afraid-cheap