Please do not show again Close
Tuesday, November 24, 2009  | 
select country C
 
select country

More on    Maktoob & Yahoo!
HOME GULF MIDEAST N.AFRICA WORLD BUSINESS FINANCE SPORT PHOTOS RESOURCES QUICK LINKS

Discussion Forum

BREAKING NEWS | Gulf Air to cut staff, may sell planes
EUR | GBP Down 1.110 ,  USD | EUR Down 0.668 ,  USD | GBP Down 0.602
Search
GO
Filter for:
Displaying 1-1 of 1 user comments
Timing not right for OPEC output hike -Kuwait
Jun 24, 2009 at 10:41
Oil minister says oil cartel does not plan to raise output as demand continues to suffer from global downturn.
0
By: Ivo Cerckel
Posted: Jun 24, 2009 at 12:18
But our friends from the European Union insist on an overall reshaping of the global financial sector to prevent the repetition of the 2008 "speculative" bubble.

In normal times, the effect of the speculator on oil prices is to level them off. In normal times of plenty, when oil prices are low, the speculator by buying up and storing oil causes them to rise. In normal times of lack of oil, when oil prices are high, the speculator sells and causes prices to fall. The effect on him is to earn profits.

This is not villainous; on the contrary, the speculator performs a valuable service. Yet instead of honouring the speculator, the EU is reviling him, thereby forgetting that prohibiting oil speculation has the same effect on society as preventing squirrels from storing up nuts for winter – it leads to starvation.
To have your say on this story, click here .

Filters All
Most Popular
  •   RATED
  •  PHOTOS
  •   READ
  •  EMAILED
Essential Reading
UAE economy 'humming again', prospects bright
Nov 20, 2009 at 17:14
Dubai Crown Prince tells world leaders economy 'humming again' in 2009 compared to most int'l growth rates.
Opinion & Analysis
Lights, cameras - but where's the action?
Nov 23, 2009 at 21:42
0 | |
There’s no point having Hollywood-style facilities without financial incentives in place argues Ben Flanagan.
When TV means ‘total vanity’
Nov 16, 2009 at 10:07
0 | |
It’s time rich Mideast investors stop viewing TV channels as mere trophies, argues Ben Flanagan.
Egypt, the land of the rising son?
Nov 15, 2009 at 07:37
0 | |
Will Egypt maintain democracy, or passively accept 'presidential inheritance' asks Sultan Sooud al-Qassemi...
» ALL OPINION & ANALYSIS
HOME BUSINESS GULF MIDEAST N.AFRICA WORLD FINANCE SPORT PHOTOS RESOURCES
Site Map | Privacy Policy | Terms & Conditions | About Maktoob Business | Contact Us | RSS Feeds | Advertise
© All material copyright of Maktoob Group unless otherwise attributed.
Contact our advertising team for advertising and sponsorship on Maktoob Business.
Maktoob associated websites: Zinza.com | Maktoob Research
Use of this site constitutes acceptance of our User Policy and Privacy Policy.
Maktoob