What US should do to fight this 'oil war': Insana - Yahoo Finance Saudi Arabia, and its fellow members of OPEC, may have just launched an oil war. For American consumers of energy products, that may very well be the best news of 2014. But the Saudis don't appear to be letting oil prices drop out of the goodness of their hearts. Increasingly, energy experts are saying that the Saudis are using a menacing little maneuver to manipulate the price of crude back up by punishing companies - and countries - mainly the U.S. and its energy industry, by driving prices so low that the recent increases in domestic oil production will be scaled back dramatically as fracking becomes a money-losing endeavor for both marginal and major oil producers in the U.S. While the cost of fracking oil and gas can vary from $50 a barrel to $80 a barrel, the Saudis are intent on looking for the prices that will force U.S. energy production to collapse. If this is the war to end all oil wars, the U.S. should use every means at its disposal to win.