VelocityShares Credit Suisse 3X Long Crude ETN (UWTIF)

[future1]

"That would be correct if the only thing that concerns them is themselves but you are ignoring politics."

The problem with this idea is the first country to be hurt by the strategy you laid out would not be Saudi Arabia. It would in fact be Russia. Russia would not put up with Iran trying to crash the price of oil for any length of time.

Anything Iran does can only be accomplished with permission from the Kremlin. The only way this could be accomplished would be with a trade purchase agreement that would help the Russian economy. Perhaps an extremely large order for military equipment.