I'm Out!!So says Indonesia to OPEC.
Cracks in the OPEC cartel? Big changes coming to the global oil patch?
Well probably not. Not sure if this is common knowledge or not but Indonesia has been a net importer of oil for a while so shelling out for membership didn't seem to make much sense.
I have not really studied Indonesia much because it is very complex politically and socially, my perception anyway. Obviously at times the stock market and the currency do well but there seems to be extra variables here that create the potential for more volatility relative to other emerging markets.
What do you think?
7 comments:
This is probably my favorite Seinfeld. A classic.
The no longer want to part of the price fixing of oil while people starve to death.
I no longer invest in oil for that very reason, life is too short to make money off people dying.
How much does it cost for a 12-month membership to OPEC? Is it cheaper than Investor's Business Daily? Do they discount for multi-year memberships?
Everyone has to make the ultimate decision. Do I want to spend $159 a year to belong to OPEC, or would I rather buy the NFL package on DirecTV?
Indonesia goes for the NFL. Smart choice!
I'm hoping that within 5-10 years, all of us who are planning to buy new cars get hybrids. OPEC falls apart if US drivers go from 20mpg to 50mpg on their daily travels.
Down with OPEC. Up with the NFL.
Maybe this gives them more political 'clout' if they find some large deposits.
OPEC costs a tad more than Sunday Ticket plus Extra Innings, lol.
Roger,
The FT's "Short View" with John Authers presented a piece on Memorial Day that reinforces your consistent advice to beware the bear rally.
Nice graph of the post 1929 and post 1973 (oil crisis) bears, as the latter compares to the Oct 2007 -> now performance of the SPX.
I copy here the link to the piece for anyone who wants to act bullishly, but has a nagging doubt (like me!).
Keep up the posts!
Rick
Oops, here's the link I mentioned:
http://www.ft.com/cms/bfba2c48-5588-11dc-b971-0000779fd2ac.html
Rick
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