By Mike Berry
“For they sow the wind, and they shall reap the whirlwind.” Josea 8:7
Will the Saudis now reap the whirlwind?
I thought this bit of recent commodity price history of interest. Income boost from today's gasoline prices versus what I paid on July 22, 2014 for regular gasoline at EZ Check (gasoline prices in Whippany, New Jersey).
By Chris Berry (@cberry1)
For a PDF version of this note, please click here.
By the time you read this, I’ll be in London attending Mines and Money as a speaker and hosting a roundtable on Energy Metals. I think it’s fitting that I’ll be in the city which was at the heart of the last Great Game, the name for the geopolitical and strategic rivalry between the British and Russian empires in the 19th century. After last week’s events in the financial markets, it appears that a new Great Game has begun. The carnage last week made two issues abundantly clear.
First, OPEC has thrown down the gauntlet and is serious about asserting its dominance in the global oil markets.