Jim Cramer believes the abundance of crude oil now accessible in North America could make our nation energy independent by 2020. And new developments suggest the Saudis really don't like it.
In fact, Cramer thinks they're making a move to try and either slow, or perhaps thwart altogether, those efforts.
Specifically, Cramer said in an environment where oil is marching lower and lower, . Instead, "the Saudis are lowering the official selling prices for its crude. And it's the fourth straight month that they've done it."
The move makes absolutely no fundamental sense. The Saudis should be cutting supply to try and stabilize prices. But Cramer thinks fundamentals play no part in the Saudis' actions.
Instead, he said, "I think the Saudis want to make oil too cheap, so we'll cut back domestic drilling."
And Cramer says low prices couldn't come at a worse time for the domestic energy firms; related costs, such as labor are going up. "Also, the costs of transporting oil are going up dramatically," Cramer added.
There will come a price when, Cramer says, domestic companies will have to think twice about how much they spend on operations and how they allocate resources.
"I know many people, including people at the oil companies are nervous about this decline," Cramer said.
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Now, it should be noted that, Cramer believes, the theme remains intact over the long-term and he also believes firms are smart, and will cut costs to counterbalance the impact of lower oil.
However, in the short-term, Cramer thinks developments outlined above must be kept top of mind, if you're looking to put money to work in the energy sector. For the time being, at least, it appears "The Saudis are not afraid to drive oil down to a price that will make the U.S. more dependent on the Middle East."
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