Link here.
1. No proof that Saudi can increase production quickly. Saudi has not produced to stated potential. Brent has been at $125 for quite some time; why is Saudi saying they are acting now.
2. No major oil company actually increased production year-over-year in 2011.
3. China with increasing oil demands.
Hofmeister: "I'm not saying Saudi doesn't have the ability to increase production quickly; I'm just saying I don't believe they can."
My sentiments exactly.
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