$100 Oil Is History, Says Saudi Prince Waleed

Saudi billionaire Prince Alwaleed bin Talal says that $100 oil is a thing of the past, as is the U.S. shale oil revolution. Oh, and OPEC cartel members can't be trusted to cut production.

As hedge fund speculation from various quarters has addressed the desire of Saudi Arabia to derail the U.S. shale oil revolution and other talk mentions the benefit of lower oil as a weapon against Russia, Talal dismisses talk.  Speaking to Maria Bartiromo in an interview published in USA Today,  Talal says talk of a plan to drive down oil prices is “baloney,” as the member of the royal family criticized Saudi Arabia’s policy of allowing oil prices to fall.