China and India can buy it and they can even build new refineries to use it. They will be spending a lot more than they would be if they bought from OPEC. It still might be a good idea for them as long term strategic reserves.
Saudis said that they are going to keep demand low as to not lose market share to American and Canadian fields that have higher operating costs. As soon as Iran can it is going to start selling to rebuild its country. There is going to be a glut of cheap oil. I absolutely believe the Saudis when they say that they will do that.
We are going to lose some train jobs, though I think they will be absorbed by the industry that needs more people now. I think we will be losing a lot of oil worker jobs in the next year or two also as our oil fields are shut down.