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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: energyplay who wrote (50703)6/2/2004 3:58:50 AM
From: elmatador   of 74559
 
Saudi is losing its price swinging position. I think that's the important outcome.

In the last 11 years -I'm counting from 1993 when I was there- until today, things have slowly but steadily nudged downwards in Saudi.
In 1993, aftermath of 91 Iraq war, the clerics and opposition, were in London vociferously talking against the Saudi royal family.

An aftershock.

They had culture shock. Saw foreign troops in Saudi soil. Satellite dishes all over the place broadcasting the war. American women driving trucks and walking the streets in combat fatigues, the Saudi army was not enough to hold Saddam should he made a push southern then Q8.

They've got even more pissed when they saw the bill to pay for the coalition!! USD50bn! The royal family has been under attack ever since. The 911 terrorists who toppled that tower when they throttle the planes towards the tower, they had those USD50bn in mind, eplay.

To pay the costs of the 91 meant less money to dole out. And then the money was already running low.
But What I am trying to point out, is that, the recent developments may have ended the age of Saudi as price swingers. That position I think it is now with the speculators.
Thanks for your wishes. we'll all need luck, mate!
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