Replies to post #294528 on ERHC Energy Inc (ERHE)

[midtieroil]

I think the Saudis have let the air out of the bubble a few times before when they thought it was to their advantage to do so. They basically want to make marginal production uneconomical and slow the progress of shale exploration. They are still the lowest cost producer. I'm not convinced that this price drop will be short-lived. Oil prices almost always surprise the so-called experts and the Saudis can continue this strategy as long as they want. There may be a little bit higher degree of political strategy involved this time around than in the past. But I think the Saudis also believe this will benefit them financially in the long run.