Try As They Might, Movers And Shakers Can't Move Oil -- August 13, 2018

It seems the preponderance of energy headlines for the past two weeks has been that the oil situation will get tighter, and by implication, the price of oil will rise.

Saudi Arabia will implode without higher prices.

But here we are, after another week and another weekend in which movers and shakers tried to talk up the price of oil, WTI has fallen 2.4%, has dropped $1.62 since this morning, and is now trading at barely above $66.

Both Goldman Sachs and the IEA have talked of oil prices going higher by the end of the year.

Right now, 12:00 noon, straight up, the price of WTI is $66.01.

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Saudi Arabia

What do you do when you:

• control trillions of dollars;
• think of yourself as the big man on campus;
• are unable to close the deal (the Saudi Aramco IPO); and,
• you need to do something to save face.

You do something that tells the world that you:

• still control trillions of dollars
• still think of yourself as the big man on campus; and,
• still want to close a big deal?

You buy Tesla. Not just 5% of the company but the entire company. 

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Turkey's Trials and Tribulations

No End In Sight

Taking a page from Erdogan's page book.

The lira started tumbling long before Trump's tariffs.

This article was posted July 24, 2018. 

And Erdogan knows Russia doesn't have the rubles to bail him out.