OPEC sees growing supply threat from rivals beyond U.S. shale

When oil is expensive, cash comes in by the bucketload. Oil exporting countries get kicky as pretty quick they think that the good times are forever so they find new ways to spend the cash instead of investing it wisely. Also, moe cash makes you avoid hard solutions as you throw cash at problems until they go away. That’s easier. But when prices come down this does not fly anymore and everyone is in dire straits at the same time. This only means one thing – Battle Royal.

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