The real cost of cheap crude oil..

The real cost of cheap crude oil... According to Reuters, last week Saudi Arabia said they would accept oil prices below $90 per barrel, and perhaps down to $80, for as long as a year or two. Given Saudi Arabia is the de facto 'central bank' of crude oil, its goal to shake out high-cost competition means other oil producers (especially Russia, Iran and Venezuela) are not particularly happy right now. While lower oil prices will mean cheaper transport, heating, shipping and some raw materials, depressed oil prices in the medium to long-term will slow jobs growth in the oil and gas industry, with significant flow-on effects to the US economy. For more information, visit: (VIEW LINK)