The saudi's are running out of cheap easy oil and they know it and they don't want the rest of the world to know it. what we should be doing is spending the money we are spending on this war on oil on alt energy and hay presto no need for the war, as we will not need to secure the oil, as we would have developed clean alt energy that can be generated at home from our own resources. but this is just a dream as the political leaders of our countries are all puppets for the big end of town.
"A producer cannot produce oil unless there is an immediate demand. Since the world's Strategic Reserves are nearing capacity, and few refiners are willing to try to operate with tanks full of $120/bbl oil, production around the world must necessarily be reduced to match demand. And at $120/bbl, demand is diminishing, not increasing. Thus, production MUST decrease -- and it is. The result? more oil in the ground for future production -- i.e. EXCESS SUPPLY"