TSX:HSE.PR.B - Post by User
Comment by
oilandgasmickon Aug 20, 2015 5:39pm
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Post# 24037659
RE:These guys have been playng fire
RE:These guys have been playng fireI don't know what unity they are talking about because OPEC never really had any. The Saudis might be under a lot of pressure as far as the media is concerned but I doubt that they are losing too much sleep over it in the scorching desert. The last great price war was in 1999-2000 with the Saudis squaring off against the Venezuelans. It lasted 2 years and the price went down to 10 bucks. Then the King of Saudi Arabia finally called the boys in and said "enough is enough." That is what will have to happen this time but I wouldn't hold my breath. The Saudi oil minister will only respond to the King and no one else. He is totally disinterested in other countries interests. If Venezuela, Algeria and Russia disintegrate into societies of rock throwing cave-men then it will not matter one iota to the Saudis until the King of SA says it matters---and not one moment before. The rest of OPEC know this only too well.