Why Saudi Arabia keeps pumping at full speed

http://www.huffingtonpost.com.au/entry/saudi-arabia-cheap-oil-prices_us_56d868f4e4b0000de4039231?cps=gravity_3967_-6414218420706568791&kvcommref=mostpopular&section=australia

Interesting, if true.

It's been known for a while now that the shale gas industry in the US is in trouble because of the low price of oil. 'Experts' are predicting that half of the shale companies could become bankrupt this year if the price of oil doesn't get back up to above $70 a barrel.

Unfortunately for the Saudi's shale is not going away, even if current shale companies go bust. The assets will be sold on and the exploration cost written off, this will allow existing sites, under new management, to sell oil at lower costs and still make money. The question is have country's who have been heavily dependant on oil sales left it too late to diversify ?    

For Saudi there is a budget deficit due to the drop in oil prices. They have increase petrol prices by over 50% and huge increases in the cost of water and electricity for the industrial sectors.

'Eggs in one basket' springs to mind.