"I don't think [Saudi Arabia] can produce much more oil than 10 million barrels a day. Now they pound on their chest, say they can do another 2 to 2,5 million barrels. I don't think that's true. If you look at the record, they have been at 10 million I think 3 times and it was not kept at that level very long. So I think they are doing all they can do. Listen, the world needed us, the world needed the US addition to the oil production. If you go back to 2005 when I said peak oil is here, and if you go to 2005 and stretch it out for OPEC, it's flat. I mean we did peak in 2005. Now where would we be today without the United States? You would be looking at $150, $175 oil ... You need to go back and look at oil production without the United States. In 2005, you peaked. Go back and look at it. If it hadn't been for the United States shale boom ... If you look at 2005, you're finished as far as the rest of the world. What saved you was the shale. It was American industry [that] saved the world one more time."