Sources: Saudis Admit They Want $70 Oil

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My call from weeks ago: I say put American tech to the task of working with friendly countries to help us keep the prices down in the 50's and let the Saudis drink their oil. It can be done within out own hemisphere to ramp up enough production to offset Saudi Arabia. May take alittle time but remember the 70's and gas lines etc. Either learn to live with reasonable priced oil or maybe get a serious poverty check when enough allies quit buying your oil. Of course many day traders would love skyrocketing prices. On the whole, it's not good for this country, creates even more inflation. Hopefully rhetoric from the Sauds is just that. 

The Saudis are aiming for at least $70 a barrel Brent Crude because the Kingdom’s budget needs these higher prices, industry sources familiar with Saudi Arabia’s oil policies tell Reuters. And they may need even higher than that.  Too many lazy people living beyond their government needs. Put the people to work, like the rest of the world!! 

Edited by Old-Ruffneck
added

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(edited)

U.S Oil Companies  and US Legislators   are all for the Saudi's price fixing.  If you want the Saudi price gauging to end get the names of the Hedge Funds, Investment Banks, Oil Companies that went to dinner sponsored by OPEC Secretary General Barkindo and UAE Oil Minister where they threatened ruin to US Shale operators and the Banks that financed them.  

These are public companies.  They have to disclose any risks to their shareholders in their 10K filings

Pressure this Administration to address this threat from Foreign Nation States.  

Where's Trumps "America First"   . . . . .  OR is it "Americas OIL COMPANIES FIRST"  at the expense of US economic growth and US Consumer .

The truth isn't Saudi's want $70 oil  . . . .  They want $85 oil.

THE SAUDI's WILL GET THEIR WAY FOR NOW  .  ..  ..  ..  BUT THE PWERMIAN OIL IS COMMING TO THE US EXPORT TERMINALS STARTING Q4 VIA:

EPIC PIPELINE

CACTUS II PIPELINE

GREY OAKS PIPELINS

Mohammed Bin SALMAN you gonna cut another 2 MILLION bbls/day in December ? ? ? 

Hold Trump Administration accountable. Don't just tweet . . . .  DO SOMETHING 

 

Edited by JJCar

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