139 comments on DrumBeat: January 11, 2009
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139 comments on DrumBeat: January 11, 2009
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I'm afraid ron patterson is preparing to poop on you
every well/lease has storage tanks, and to some extent the operator of that well/lease is a speculator, they can store oil from month to month to try to get the best price, but at some point they have to put up or shut up, and either shut the well(s) in or sell the oil.
ksa is no different, and i am reasonably certain they have a good idea of what the market is doing. so to that extent, they are speculators as well. iran has alledgedly rented tankers for floating storage, speculators one and all.