Daily Archive: Tuesday, April 12, 2011

SAUDI ARABIA HAS CUT OIL PRODUCTION ON WEAK DEMAND

As discussed, what they actually do is set price for their refiners and then let them buy as much as they want at that price. They use ‘speculation’ and the like for ‘cover’ for raising and lowering their prices. SAUDI ARABIA HAS CUT OIL PRODUCTION BACK TO APPROXIMATELY 8.5 MLN BPD ON ...Read More

Stiglitz Calls for New Global Reserve Currency to Prevent Trade Imbalances

>    >   (email exchange) >    >   Hi Warren, >    >   Do you have any thoughts on Stiglitz calling for a new reserve currency? >   Is this something you see as a problem or is Stiglitz getting it wrong? >    Yes, my advice for Joe is to stop talking about these things entirely. He’s in it all ...Read More