RUSSIA IS NOT LIKE “ANYWHERE” ELSE:
So the last head of Russia Oil who crossed Putin as a billionaire never got HIS Life BACK. The ONLY oil monopoly in Russia has now said today they will not CAP oil like Putin said just yesterday to OPEC. This now has the Petro nation at civil war. The two most powerful men one running the Politics and the other running the money and oil – noting their GNP has crash from 5.1 trillion to only 1.3 trillion and they have no way to pay for the cost PUTIN is running out – except to borrow and deficit spend – and to go to war and steal assets Ports in Ukraine Syria and other locations which they are.
How this plays out will be a blood bath. Trust me. The markets see OPEC as a TOOTHLESS TIGER “gumming” at the market where its most powerful members RUSSIA can’t even agree – no one is going to cap their income when they are all everyone of them starving for cash – who is going to reduce their cash when they are starving for cash?
In today’s world? I do not see any way do you?
So the OIL market has no way to make artificially high prices any more now the market defines price versus a state monopoly.
That day came went and is now LONG LONG PAST.
OPEC is a WRECK.
Berny Dohrmann – Investment banker economist— October 11, 2016