If you can believe Bloomberg

What is the price at which major producers chicken out and slash output? Whatever that price is, it is much lower than the $125 a barrel Venezuela needs to support its mismanaged economy. The same goes for Ecuador, Algeria, Nigeria, Iraq, Iran and Angola.

Saudi Arabia requires a price of more than $90 to fund its budget. But it has $726 billion in foreign currency reserves and is betting it can survive for two years with prices of less than $40 a barrel.

Furthermore, the price when producers chicken out isn’t necessarily the average cost of production, which for 80 percent of new U.S. shale oil production this year will be $50 to $69 a barrel, according to Daniel Yergin of energy consultant IHS Cambridge Energy Research Associates. Instead, the chicken-out point is the marginal cost of production, or the additional costs after the wells are drilled and the pipes are laid. Another way to think of it: It's the price at which cash flow for an additional barrel falls to zero.

http://www.bloombergview.com/articles/2015-02-16/oil-prices-likely-to-fall-as-supplies-rise-demand-falls?cmpid=yhoo

Remember the '73 oil crunch?

Saudi Arabia drops world oil prices by maintaining high production every so often to kill competition of higher priced oil sources like offshore and oil shale projects. Once the competition is out of business, the price of oil goes back up. Their cost of production is only about $10 per barrel. This tactic also works well to kill many solar and "green" energy programs. Once the competition is damaged, a cut in production drives the price way, way up and creates shortages. This plan was the main form of manipulation by the "oil cartel", led by Saudi Arabia.

a Player might have been added!

http://www.washingtontimes.com/news/2015/feb/2/richard-rahn-vladimir-putin-funding-opposition-to-/

I read the OP a few days ago and sighed in disbelief, knowing how the futures market works, now. Supply and demand and all that, there's way too much demand above the $10 mark

However, I just read this article pointing to the lowered cost of solar and wind power. In today's economy, there's no way we'll get by on powering our cars with electricity, but in just a few years, they'll be way more common, and sensible. You'll come down to the choice of using electric/battery powered things or spending several times more the cost to use fossil fuels.

you will be lucky if you end up with this when Obama is through with you!

And just how do you propose we would produce enough electricity to power said electric vehicles?

Coal,Oil and Natural Gas!
Extremely green!

Photovoltaic panels are getting cheaper and more efficient(pointed out in the article linked above). The technology is getting incorporated into roofing shingles and, wall panels and even windows. Efficiencies are going up, too. New panels are about twice as efficient as the last generation's. Which says nothing of the improvements in wind turbines and batteries. Compared to what you'll pay for electricity (my bill says $0.13/kwh) Solar costs much less, and when everybody can simply install panels on their roofs, they won't need transmission lines. So, it's not where will you find the power, but where won't you find it?

Transparent solar cells

Super efficient panels sets record

The best part is we won't have to go to war to protect the sunlight in the Middle East, or clean up the sunlight that spills onto our beaches.

No problem, then we will just pass the Affordable Auto Care act.

ahhh yes, Mad Max. Still no problem.

I'm still waiting for silver to go through the roof..lol.

yep,and make Fists without Solyndra!

Oh Goody!

Passing the Obama Funded Affordable Auto Loan Act (Otherwise known as the Ofaal Act) would allow equal transportation access for all and allow the import of advanced technology from China to solve America's burdening transportation problems.