He seems to have a level head about the situation. Honestly, I appreciated the frankness of his commentary even when the journalist asking him questions suddenly threw him an unrelated terrorism gem. I guess he is always prepared for questions like that. I generally hate reading interviews because of the amount of political rhetoric found in them but this was quite refreshing.

Anyways, what he said about panic and not using the past couple weeks as a barometric forecast is spot on. There will always be situations in industries that result in panics and crashes. There will always be fluctuations. For situations like this when you are in the position Saudi is in, your best bet is wait it out and see what happens and how it ends up stabilizing in the end. I think it's irresponsible for some to be pulling the plug so quickly. Obviously, less supply will dampen the crash more quickly but if there is any fluctuation in demand in the next couple months, the price is going to fluctuate with it again. There are too many factors across too many regions and political situations to predict what will happen in the coming months and years with any great certainty.

I won't be surprised when oil hits $100 again though. It may be a bit artificially high, but consumers and companies had adapted. It's easier to adapt to $100 a barrel than back to $50 a barrel. While I was stoked to hear my mom filled my truck up for $50 the other day ($50 didn't even get it to 50% this summer), it's selfish and economical stupid to hope it stays so low for a prolonged period of time so I can save money at the gas station.

Plus, knowing the short sightedness of many Americans, low gas prices will inevitably lead to people buying more gas guzzlers again. I was just starting to get used to the freeways of Priuses.