29 comments on Pre-vacation thoughts
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This is newspeak for we want overproduction to lower prices. Transparency has nothing to do with the price of oil. The only way it could have is if reserve numbers are being kept secret and understated. If anything the reserves of OPEC are overstated and the market has been assuming essentially limitless supply. Now that the price is increasing to reflect the production reality it is being branded as "volatility" by self-serving government hacks. This is a new defintion for the word since volatility would be prices going up and down, not just up around $20 a year.