Thursday, January 12, 2017

U.A.E. Says $50 Oil ‘Isn’t Going to Cut It’ for Producers


Ha! Well too bad rent seeking m-fers... suck it up fellah...


Non-cartel sector doesn't agree apparently,:







3 comments:

Bob said...

Tell the Saudis to stop pumping.

John said...

Washington-backed U.A.E does as it's told by the imperial overlord. Any other interpretation makes no sense, and I don't see any complaints when the oil price is artificially driven low. What kind of "market" has on one day the true price of oil being close to $150 and a short while later plummeting to about $30? Where else do you see such "market" fluctuations? You don't, because energy isn't a market: it's rigged by the man supplying all the F-15s, Abrams tanks and M16 assault rifles. Why would such fluctuations exist in the one commodity the whole world needs? It can't possibly be that the world economy has suddenly lost half or more of its output. The only possible answer is that it is a rigged "market".

The prevailing wisdom is that Washington spends all this time, effort and resources protecting these artificial jihadi petrostates in order to cripple its own economy. This is what passes for political science in academia and the intentionally misinformed public. This isn't any different to those vox pops in which it is claimed some preposterously high percentage of state revenue is used as foreign aid! Drowning in propaganda as they are, you can understand why the general population is misinformed. Those who consider themselves more knowledgeable claim, like Drumpf, it's because "our leaders are stupid" or "we have bad negotiators". It's amazing what people believe. Take away the imperial protection racket Washington runs and we'll see where the price of oil goes.

GLH said...

Tell the UAE to quit spending their money on terrorist in Syria and they will have more to spend at home.