Luxurious Detention

By |2017-11-08T18:19:07+00:00November 6th, 2017|Categories: Global Market Update|Tags: , , |

What’s happening in Saudi Arabia? Saudi Emblem. Public Domain. Source: Wikipedia Over the weekend the Saudi government detained dozens of the country’s most powerful princes, military officers, businessmen, and government officials. Included in the sweep is Prince al-Waleed bin Talal, one of the world’s wealthiest individuals, worth over $16 billion, by some reports. Also taken into custody were two sons of the late King Abdullah, who might have been considered possible rivals to Crown Prince Mohammed bin [...]

Age of Independence

By |2015-05-15T11:45:52+00:00May 15th, 2015|Categories: Contested Spaces|Tags: , , , , |

Diagram of Geopolitical Relationships in the Middle East. Image Source: Karl reMarks The moderated opening of Saudi Arabia’s stock market to foreign investors is a crucial step towards nurturing a diverse and self-sufficient economy. Edith Wharton’s Age of Innocence tells the tale not just of 1870s New York high society but portrays the extent to which our decision to subscribe to the desires others have for us is, in fact, a choice. No one is free from [...]

A Christmas Present from the Saudis

By |2016-11-17T16:31:32+00:00December 22nd, 2014|Categories: Global Market Update|Tags: , , , |

Why are oil prices falling? Source: Arab News The short answer is, because Saudi Arabia wants them to. A recent Wall Street Journal article notes that the Saudi oil minister, Ali al-Naimi, is concerned that North American shale oil producers are gaining market share at the Kingdom’s expense. Back in September oil was priced at $90 / barrel, at the low end of its recent price range. Naimi went on vacation, removing Saudi Arabia from a public [...]

The Last Laugh?

By |2016-11-17T16:36:06+00:00October 15th, 2014|Categories: Global Market Update|Tags: , , |

“I am a man of the desert; nobody is going to laugh at my beard!”That’s what the Saudi oil minister exclaimed as he stormed out of an OPEC meeting some 30 years ago. The $34 oil price—equal to $100 today—had been supported by massive cuts in Saudi production. They were the “swing producer” that allowed the cartel to maintain its higher price. But OPEC was being torn apart by over-pumping, price discounting, and increased non-OPEC production. So [...]