RE:Saudis will Go Broke at this rate.Lied about Reserves.TonyDj wrote: Saudis have underestimated the staying power of the US oil industry and are depleting FX reserves faster than they thought. Last count was 10 billion a month.Their bluff has been called . Already 2 years into this and no end in sight. In one years time they will be begging to raise oil prices. They are issuing IOU's to their contractors - Bin Laden Group. Bin laden Groups is laying off 10's of thousands of Indian labourers.
keep it current Tony, that is very old news. Saudis will not blink as long as Iran is ramping up period end of story.