Thought you might enjoy this...ping.
Prince Alwaleed was known to be worth 27 T about 3 years ago, half of which was in gold.
He’s the one that’s behind the attack on US domestic oil producers.
The Saudis $6 extraction cost compared to $32 in the US enables the Saudis to prevail unless we take action to counter. Donald Trump will find a way because it’s much more than just oil. It’s also enormous quantities of natural gas that comes out with the oil and it’s also about US leadership in world trade.
So far, no one is cutting back on oil production. American and European energy companies, not to mention the oil rich members of OPEC, are flooding the global market for cheap oil.