The Aussies find shale oil. This is not the end of Saudi Arabia but it should shrink their net worth over time. They are not particularly astute investors so one can only hope that they lose their money and power. Nothing would please me more than to see a Ferrari being pulled by two camels. Why? One because they are the single biggest sponsor of radical Islam in the world and have (along with Iran) a lot of blood on their hands. And two, I do not like they way the ruling class treats their own people. Not that the United States is a moral giant, President Drone’s use of high-tech killing machines is rather indiscriminate. To digress, I am not one to get upset at the killing of the enemy and their infrastructure. The Tamil Tigers were not stopped by listening to the UN. It requires ruthlessness to break the fighting will of your enemy (Sherman’s march to the sea) which is why you should never go to war except in self-defense. Anything less than that muddies the waters, you lose the moral high ground.
Returning to the main topic, every new oil find outside OPEC countries pleases me. I look forward to the day when they stick their ATM cards into a machine and the balance = the 99%