Freereign, did not read post #33?
The Saudis are causing a flood to the US market by REFUSING TO CUT production and for refusing to influence OPEC to do the same.
The US oil terminal storage infrastructure is filled to the brim with oil. If the Saudis had cut production, that would not be the case. And they refused to cut production in order to see the US system flooded by its own production.
The comparative amounts of what the US is producing to the what the Saudis have produced are IRRELEVANT. It has nothing to do with the Saudis causing the US oil production to rise and exceed their volume to the US. That has nothing to do with it.
The Saudis saw the US oil production increasing rapidly and they had a chance to cut their own and OPEC’s production to stop prices from collapsing. But they chose not to do that so that they could cripple the US oil production industry.
They are responsible for the flood of oil in the US. You might say no, the US oil industry is responsible for the flood of oil. But US oil producers are working on US land, and the Saudis are trying to force their product in so that the US producers quit the field. The Saudis want to control the market. So they are the culprit. They are the cause for the flood of oil.
Yup. Right on target.
the Saudis are trying to force their product in so that the US producers quit the field.
The genie is out of the bottle. SA can't take our resources away. If Sa tries to break our oil and gas industry, it would only be short term. At some point it will no longer work, and our oil and gas resources will be used.