re: Saudis manipulating oil lower - ok with $80/barrel for next 2 years

High price of oil encourages new market participants and new areas. It also encourages alternative energy sources. Both of these things are not kind to the long term economy of SA.

For a while, OPEC had us over a barrel (LOL) when it comes to oil. We had no other choice. Well, now, we have choices. OPEC knows they need to be competative.

So, they want to find the sweet spot - allow them to maximize profits, but not so high that it encourages competition.