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Just as oil starts to lose its grip, Saudis' low prices pull us back
2015-02-01 17:17:00| Climate Ark Climate Change & Global Warming Newsfeed
LA Times: The conventional explanation for why the Saudis have not cut production is that their oil ministry's managers, led by veteran minister Ali Naimi, hope to disadvantage low-cost energy produced through fracking, a worrying source of competition. Forbes magazine has asked whether the dropping price of oil is "game over" for the fracking industry. Others see it as a move to shut down Russia, the oil cartel's biggest rival, or to damage regional rival Iran. But the Saudis understand that they need...
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