The Saudis have stated their goal in maintaining current oil output and export volumes is to protect market share against foreign rivals. The Saudi’s rivals are not limited to other oil producers though, they are also striving to undermine clean energy technologies and climate change policies. “Lower oil prices are going to make it more difficult to […]
Comment: Why oil prices are down
A historic change of roles is at the heart of the clamour and turmoil over the collapse of oil prices, which have plummeted by 50 per cent since September 2014. For decades, Saudi Arabia, backed by the Persian Gulf emirates, was described as the “swing producer.” With its immense production capacity, it could raise or […]
Comment: Oil – a financial cure?
Austerity is in the air and there is much grieving and gnashing of teeth across the land. I understand the anger of the municipal workers. But I also understand the anger of the average taxpayer. Most of us don’t have a gold-plated pension plan like they do. And if things stay as they are, there […]