70% of their population is <=30.“Those days are over. The United States now rules the global oil market, and it’s showing no mercy.”
*TRUMP EFFECT BUMP*
Good article. Could explain all the over-the-top, ‘Pomp & Circumstance’ the Saudis displayed toward President Trump earlier this week.
Sounds like a good like to all of us.
The report said “the collective efforts of all oil producers” would be needed to restore order to the global oil market.
We used to call that Collusion.
now rewritten:
The report said “the collective efforts of all CellPhone producers” would be needed to restore order to the global CellPhone market.
This above scenario would be CRIMINAL and any CEO that brought this up would be Arrested and sent to Prison.
The Sherman Act outlaws “every contract, combination, or conspiracy in restraint of trade,” and any “monopolization, attempted monopolization, or conspiracy or combination to monopolize.” Long ago, the Supreme Court decided that the Sherman Act does not prohibit every restraint of trade, only those that are unreasonable. For instance, in some sense, an agreement between two individuals to form a partnership restrains trade, but may not do so unreasonably, and thus may be lawful under the antitrust laws. On the other hand, certain acts are considered so harmful to competition that they are almost always illegal. These include plain arrangements among competing individuals or businesses to fix prices, divide markets, or rig bids. These acts are “per se” violations of the Sherman Act; in other words, no defense or justification is allowed.
https://www.ftc.gov/tips-advice/competition-guidance/guide-antitrust-laws/antitrust-laws
Remember back in the 70’s when saudi Arabia sent us plentiful, cheap oil?
Why is it that while the price of oil has dropped, Venezuela and Saudi Arabia seem to have have wildly different consequences of that happening.
10 Most invasive parasites of the world
https://www.bing.com/videos/search?q=parasite&&view=detail&mid=2046D1116E9384652A6B2046D1116E9384652A6B&FORM=VRDGAR
A recent article I saw indicated that US shale oil producers can now “break even” with $34/barrel oil.
That explains everything.
70% of their population is <=30.In the days of the Hyperinflation of Weimar Germany, the US sent over some brilliant financial wizards to get their financial house in order and restore their currency. It worked great, with the German economy recovering just in time to be taken over by Hitler.
Though it is rarely mentioned or used, this is one of America’s most effective exports: financial management and recovery.
Importantly, it is done discreetly. So if we provided the Saudis a recovery and stability road map, when executed, it would appear to have come from the king and crown government. The Americans would remain behind the scenes to advise adjustments as it was carried out.
The biggest problem is that the Saudis as a people, are extremely conservative, in the strictest sense of the word. Very scared of change, only accepting it if it is very incremental and peaceful. So this program may take from years to a decade or more to be carried out.
The end result will be a far more diverse Saudi economy, with industry and entrepreneurship moving them away from their total dependence on oil. And also making them a much more effective barrier to Iran.
Importantly, they have been trying to move in this direction for years, but they need the advice of economic masters to speed things up.
I’m not interested in paying for Saudi welfare.
Trump should tell them no we will not stop drilling for oil but we are more than willing to make a deal for fracking sand which we understand they have lots of.