[velodrome]

Your thinking Saudi Arabia UNILATERALLY caused the oil glut. IF that were the case, Saudi Arabia would be more powerful than OPEC, etc. They are not. The thing is most of the world's oil producers were pumping oil at ever increasing quantities:

https://en.wikipedia.org/wiki/File:Top_Oil_Producing_Countie...

As oil prices went down, they had to pump MORE to maintain operating costs.

http://econbrowser.com/wp-content/uploads/2016/01/us_oil_jan...

http://econbrowser.com/wp-content/uploads/2016/01/crude_oil_...

http://econbrowser.com/wp-content/uploads/2016/01/saudi_prod...

http://econbrowser.com/archives/2016/01/world-oil-supply-and...

[kneegrown]

You just proved his point. Everyone sees the writing on the wall.

Love,

Kneegrown