It's a great cycle.

OPEC cuts production, raises prices, drain our wallets and make massive profits.

Independent drillers see the higher prices, jump in with wall street financing and steal market share from OPEC.

OPEC boosts production, cuts prices (still make money because they aren't heavily leveraged) and drive the independent drillers into bankruptcy.

Big oil drillers scoop up producing oil fields from bank foreclosures for pennies on the dollar.

The circle of greed.