You heard wrong, Saudi Arabia is only producing around 9.5 million BPD equivalent, about 10% less than there 15 year average and roughly 75% of available capacity. Saudi Arabia still has the lowest lift cost in the world, they don't have any ''debt'' to service and they can maintain their welfare state on $20 oil. The real reason crude prices have dropped is because th US oil industry is the most efficient and productive in the world and demand has dropped because the world economy is basically in shambles, the US economy has been artificially propped up by QE and the results of the discontinuation of same is soon coming home to roost.
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Today's Featured Article - Sunday Drives - by Cowboy. Summer was finally upon us here in Northern Maine. We have two types of industry up here, one being "Forestry" (Wood Products) and the other "Farming" (Potatoes). There is no shortage of farm tractors and equipment around here! I have been restoring old Farm Tractors for the past 6 years, and have found it easier and less expensive to hit all the auctions and purchase whole tractors for parts needed. My wife who works at a local school, and only has weekends and summers off, while on t
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1964 I-H 140 tractor with cultivators and sidedresser. Starts and runs good. Asking 2650. CALL RON AT 502-319-1952
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