Off-Topic: Gas Prices Rock
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Name:
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MrHodja
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Subject:
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Gas Prices Rock
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Date:
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1/24/2015 5:39:55 PM
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I saw that the Saudis' cost to produce a barrel of oil is about $12. With the billions if not trillions they have in cash reserves they could easily keep the cost of a barrel depressed for long enough to drive the frackers out of business. However, that also hits some of the less fortunate OPECers like Venezuela - whose economy is propped up by oil sales - pretty hard.
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