Hmmm... That's an interesting theory. It doesn't do anything for President Obama's "green energy" fans right now, but if they succeed in putting shale oil producers out of business, then maybe it will come back. I'm not so sure Obama really wants to hurt his fans in Venezuela, either.

It certainly does poke a stick at Russia and Iran, though. But I just don't think anyone in this administration is that smart.

I can see why the Saudis are doing this. Every dollar drop in the oil price puts another marginal producer on the ropes. When they dropped the oil price in the 1980's the U.S. closed up thousands of marginal "stripper wells," setting the stage for huge increases later. But again, I'm not sure this well have the same desired effect - new technologies are decreasing the cost of shale oil production every day.

What this means for the world's political situations, I don't know. Interesting times lie ahead.

Onward and upward,
airforce