RE:RE:RE:RE:RE:RE:RE:Dartboard!!!It is all about cost of production.
Look at U.S. production costs... $62 per barrel. There simply isn't room to move prices appreciably in the U.S. or Canada.
Saudi is half the cost so they can pass on those profits to their citizens. Not to mention that a lot of their oil companies are state owned.
In the U.S. oil is a business with shareholders to satisfy.
The cheapest oil to supply – at an average breakeven price of US $29 per barrel – is onshore Middle East, which is primarily Saudi Arabia (in royal blue). The most expensive is Canada’s oil sands at an average breakeven price of US $74 per barrel (in purple). Next to oil sands is US shale oil (in red) at US $62 breakeven – expensive to produce because of its need for multistage hydraulic fracturing. Near the middle (in blue) is Onshore “RoW” or “rest of world”, which includes Canada, at US $55. (Interestingly, this same graph from May 2014 shows slightly different numbers and includes Arctic oil as the most costly, at US $75 per barrel breakeven.)