Peak mid-east is over

[Recursion]

By my count here are the petro states in order:

1. USA
2. Russia
3. Saudi
4. Canada
5. Venezuela

The days of petro extraction being a middle-eastern thing are over.

[djean111]

1. I wonder if this is why the Saudis are okay with not cutting production now -

because cheap oil/gas will eventually drive those countries/companies with higher costs out of business, and the Saudis are sitting on all that oil money and can weather the lower prices.

Here in the US, I fully expect the GOP to introduce a bill to give even more subsidies to oil (and coal and nuclear) so that those businesses can keep their profits steady. And drop subsidies to solar and wind and social services and whatever else in order to "pay for it". And, of course, the bill will be passed and signed.

I think the US used to be a leader and innovator, now, officially, the US just chases profits for the few at the expense of the many. When the existing power corporations figure out how to get the same ownership and profits from solar and wind (wonder if anyone is working on tidal power or something like that) - THEN Washington will embrace alternative energies and phase out the polluters. Until then, I would not be surprised to see national monuments and parks fracked for a cup of oil or whatever. On our dime.

[Recursion]

2. Keep going

That's exactly the right direction, but you're still missing half of the Saudis' plan.

Homework: find numbers 6 through 10. That explains SA's foreign policy.

[BumRushDaShow]

4. "And, of course, the bill will be passed and signed."

Yup - in that same bubbleworld that Clint Eastwood lives in with the rest of the RW loons and half of DU.

[djean111]

5. Well, we will see, won't we? :-) I would LOVE to be wrong. n/t

[bhikkhu]

6. I would guess they need money, and realize they don't control oil prices like they used to

One of the biggest problems the Sauds have is their huge and growing royal family, numbering in the thousands, who all live off generous government allowances. Combined with a large and more or less oppressed minority (native and multi-national), its one of the least natural and healthy arrangements in the world - guaranteed to fail at some point. A steady flow of money is about the one thing they have to maintain stability.

[WinkyDink]

3. Middle East.