Re: Saudis Waging an Oil War on Iran?
Maybe, who knows? But I’ve been following this stuff for over 20
years, and I’m impressed by how someone always has a political
explanation for movements in oil prices (and how you can always find
a trader or two to tell the story you want to hear). Like evolution,
sometimes stuff just happens. In this case, prices of $70 or more are
not in the Saudis’ long-term interest; they encourage alternatives
and declining demand. Prices of $50-55 are not cheap by the standards
of recent decades, either.
I thought oil prices were supposed to go up after the November
elections, because Dick Cheney had driven them down to elect
Republicans.
Doug