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<blockquote data-quote="tonyexpress" data-source="post: 1487635" data-attributes="member: 1940"><a href="http://www.etf.com/sections/features/23652-saudis-try-risky-play-to-sink-us-oil-producers.html?showall=&amp;fullart=1&amp;nopaging=1" target="_blank">Saudis Try Risky Play To Sink US Oil Producers</a><a href="http://www.etf.com/sections/features/23652-saudis-try-risky-play-to-sink-us-oil-producers.html?showall=&amp;fullart=1&amp;nopaging=1" target="_blank"></a>HardAssetsInvestor: What&#039;s the biggest reason oil prices have dropped so dramatically in recent weeks?Phil Flynn: If I only have to give you one reason, it would be the rise of U.S. oil production. It’s really changed the world. We also have a slowing global economy, and Saudi Arabia is raising oil production, along with other OPEC members. They wouldn’t be doing that if they weren&#039;t concerned about losing market share to non-OPEC producers such as the United States and Russia.Supply and demand?This thread was started in 2006 and it was Bush&#039;s fault then and Obama&#039;s fault most recently, that is if you choose blame who is in office.&nbsp; Gas prices do make good political jousting fodder for those who want to blame a president for something he has no control over.&nbsp; Congrats to Obama for at least being in office while the prices are getting nice and low, it might even give his approval rating a bump.</blockquote>

[QUOTE="tonyexpress, post: 1487635, member: 1940"] [URL='http://www.etf.com/sections/features/23652-saudis-try-risky-play-to-sink-us-oil-producers.html?showall=&fullart=1&nopaging=1'][SIZE=6][B]Saudis Try Risky Play To Sink US Oil Producers[/B] [B][/B][/SIZE][/URL] [B]HardAssetsInvestor: What's the biggest reason oil prices have dropped so dramatically in recent weeks?[/B] [B]Phil Flynn:[/B] If I only have to give you one reason, it would be the rise of U.S. oil production. It’s really changed the world. We also have a slowing global economy, and Saudi Arabia is raising oil production, along with other OPEC members. They wouldn’t be doing that if they weren't concerned about losing market share to non-OPEC producers such as the United States and Russia. Supply and demand? This thread was started in 2006 and it was Bush's fault then and Obama's fault most recently, that is if you choose blame who is in office. Gas prices do make good political jousting fodder for those who want to blame a president for something he has no control over. Congrats to Obama for at least being in office while the prices are getting nice and low, it might even give his approval rating a bump. [/QUOTE]

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