re: Who else is loving these gas prices?

That great feeling you get as you pull up to the station and see $2.56...that's the feeling of the Saudis increasing/maintaining output in order to strangle/kill American Oil Production.

Think about that.

quote:

---

Saudi Arabia increased September output 0.5 percent to 9.65 million barrels a day, according to data compiled by Bloomberg. The Organization of Petroleum Exporting Countries pumped 30.9 million barrels a day, the most in a year. Saudi Arabia, Iraq and Iran are offering the biggest discounts to crude buyers in Asia since at least 2009.

“The Saudis are trying to protect their patch in Asia,” Daniel Hynes, senior commodity strategist at Australia and New Zealand Banking Group Ltd., said by phone from Sydney Oct. 15.

With new drilling technologies pushing U.S. output to the highest in 28 years, the International Energy Agency predicted the U.S. would pass Saudi Arabia to become the world’s top producer by 2015.

---

The Saudis and their fellow oil producing Arab allies, the Iranians, Russians and Americans are embracing the bear market in oil like four drunks playing chicken by racing each other toward a cliff by not slowing production...but they'll win because they're robust enough to take the hit...our producers aren't.