Shale Production Has Reduced Energy Prices To Levels Where Saudi Arabia Can't Fund Its Welfare State

[goodwithagun]

Shale Production Has Reduced Energy Prices To Levels Where Saudi Arabia Can't Fund Its Welfare State
Matt Vespa
August 3, 2016
http://m.townhall.com/tipsheet/mattvespa/2016/08/03/shale-production-has-reduced-energy-prices-so-low-that-saudi-arabia-cant-fund-its-welfare-state-n2201592

Saudi Arabia knew that North American shale production could potentially torpedo their hold on the energy market via oil. So, they decided to trounce the natural gas market by opening the floodgates with petroleum. It didn’t work. The Telegraph now reports that shale production has cut prices so low that they can produce at prices that are lower that what’s required to keep Saudi Arabia’s socioeconomic fabric healthy:

Continue at site.

Cry me a river.

[r9etb]

Cry me a river.

Silly comment.

Considering the likely nature of whatever revolution overthrows the House of Saud, I think there will be more than a few tears shed before all is said and done.

[Free Vulcan]

If the House of Saud falls, it will not be a pretty outcome for the entire Middle East.

[Fishrrman]

The house of saud -will- fall, eventually -- most likely to isis or a group backed by them.

[Cripplecreek]

Guess they'll have to go back to fighting over damp spots in the desert.

[geronl]

They should have diversified a bit.

[geronl]

Guess they'll have to go back to fighting over damp spots in the desert.

War of the Wadi's

[Chieftain]

The US should quietly spend some money to sponsor as many pilgrims as possible to head off to Mecca on Haj. 

Over the years, the Haj has proven to be one of the single most hazardous activities a devout Muslim can undertake.  Just last year there were thousands killed in a massive crowd rush, despite the Saudis spending millions to expand the facilities in Mecca.  The even dropped an enormous vertical crane on top of one of the Mosques that left a couple hundred of the Faithful DRT...(Dead right there...).

If the Saudis had five million pilgrims last year, we should see too it they have ten million this year and twelve million the year after.  Just increasing the numbers flooding into Mecca will generate tremendous numbers of casualties without any further involvement other than getting as many there as possible.