The pseudonym "Philo Vaihinger" has been abandoned. All posts have been and are written by me, Joseph Auclair.

Monday, January 12, 2015

It's about not losing market share to the Americans or to shale oil

A Saudi Prince speaks out

Not about Russia.

Not about Venezuela.

Not about a bad conscience for cartel (OPEC) price fixing in defiance of market morality.

They just want to crush a promising source of competition that, as it happens, can function only if the price is pretty high.

But then the threat of competition from America and from shale oil has done its job and forced prices down.

The threat is not going away.

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