Is Saudi Arabia About To Cry Uncle In The Oil Price War?
There is little doubt that if the current low oil prices continue for more than a few years, most of the oil tyrannies will collapse, including Saudi Arabia. This article points out how bad the problem is right now, with the Saudi's unwilling to pay back wages, and airfare for trapped foreign workers.
The chart below shows how the Saudi problem is worse than the Iranian problem, but it also fails to take into account the fact that Iran has a real vibrant economy, which Saudi has no real non-oil economy. This will likely end badly for the House of Saud. A more deserving group for a bad ending would be difficult to find.