Looks like the Saudis are trying to move the price of crude down a notch. Oh wait, I forgot Saudis have no excess capacity. How do I know this? Bruce Oksol said so :). We will see.
Well a bluff is a fine strategy and sometimes it works. The downside of using a bluff as a strategy is that it looks extraordinarily stupid if someone calls the bluff. I doubt that the Saudis would risk world class humiliation on this issue but I could be wrong.
Looks like the Saudis are trying to move the price of crude down a notch.
ReplyDeleteOh wait, I forgot Saudis have no excess capacity. How do I know this? Bruce Oksol said so :). We will see.
This is one of my favorite commentaries (be sure to read the linked articles):
ReplyDeletehttp://milliondollarway.blogspot.com/2011/03/oil-falls-to-near-104.html.
iPad won't allow pasting in comment posting, so I hope I typed out the correct URL. If not, I will correct it later.
On the road tonight. Wow, what a beautiful sunset in North Dakota. Flares everywhere.
Well a bluff is a fine strategy and sometimes it works.
ReplyDeleteThe downside of using a bluff as a strategy is that it looks extraordinarily stupid if someone calls the bluff. I doubt that the Saudis would risk world class humiliation on this issue but I could be wrong.