Remains high evidencing that there’s still a bid for that much crude at their posted prices, which also went up all month.
And, if Saudis are near ‘practical’ full capacity, that a relatively small supply disruption could cause a large spike in price.
Do you think the potential prospect of QE3 is going to drive the price of crude even higher. Seems cruel to the economy.
Warren,
under the current ‘institutional arrangements’ in the US, do you think it’s possible that primary dealers might ever refuse to buy US government bonds, or drive yields up to ‘unsustainable’ levels?