[Skip to the end] (email exchange) Yes, that’s the issue when there is more excess capacity than any one producer can afford to ‘allow.’ The
[Skip to the end] Not much demand destruction showing up here. Saudis set price and let quantity adjust to world demand. Can take a few
[Skip to the end] It’s too early to say for sure the Mike Master’s sell off has run its course. I looked at the announced
[Skip to the end] I take this as a signal that the Saudis (and probably Russians as they just met with the Saudis) have decided
[Skip to the end] (email exchange) Thanks! it’s all about price setting, as previously suspected. Warren > > On Thu, Oct 23, 2008 at 10:09 AM,
[Skip to the end] Saudis still price setters, this is just a smoke screen to disguise that. The great Mike Master’s sell off that also
[Skip to the end] Production falling some but overall demand probably remains high, as reported inventories remain very low, as the GMIL (Great Master’s Inventory
[Skip to the end] The Saudis will ‘meet demand’ but at their price. So the question remains as to what their price is. With their
[Skip to the end] It was deregulated back in the 1970s, which brought out vast supplies causing utilities to substitute gas for oil and eventually