tag:blogger.com,1999:blog-8282587.post8876645425644628430..comments2024-03-19T01:48:39.709+00:00Comments on Power and Control: Huge Oil Discovery In The Middle EastM. Simonhttp://www.blogger.com/profile/09508934110558197375noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-8282587.post-32261676735639020082011-06-16T17:48:36.329+00:002011-06-16T17:48:36.329+00:00True that. But the price only needs to be kept at ...True that. But the price only needs to be kept at $70 a bbl to bankrupt Iran. Saudi can get by at $60. <br /><br />This is based on the requirement to hold the "nation" together. <br /><br />So yes. The Saudis can produce at $10 a bbl. They can not survive on that.M. Simonhttps://www.blogger.com/profile/09508934110558197375noreply@blogger.comtag:blogger.com,1999:blog-8282587.post-85206506106384689292011-06-16T12:50:28.599+00:002011-06-16T12:50:28.599+00:00Shale oil and tar sands require oil to be around $...Shale oil and tar sands require oil to be around $100/bbl, or so, in order that it can be profitably exploited. If the price goes to $50/bbl, only Saudi Arabia will benefit.<br /><br />A number of years ago, oil fell to around $10/bbl. Saudi Arabia continued to produce oil, and many older wells in Texas were shut down and concreted.sykes.1https://www.blogger.com/profile/10954672321945289871noreply@blogger.com