Qifa Nabki Comments

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Updated: 11 hours 55 min ago

Comment on Of Maps and Men by Ray

Sun, 2014-11-16 22:49

Money is not made of paper. It is made of cotton.

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Comment on Of Maps and Men by Ray

Sun, 2014-11-16 22:10

Let’s see what happens when the price of oil to the dollar matches the rubble to the dollar.

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Comment on Of Maps and Men by Samer Nasser

Sun, 2014-11-16 21:48

Akbar Palace,

Quick note in my defense. I never compared the two. I only said Krauthammer reminded me of Yassin. The similarity in my mind begins and ends with spinal cord injury and being confined to wheelchairs.

To be blunt, I know precious little about both people. But you have inspired me to learn more about Krauthammer. Right now it’s a bit of a mixed bag, to be honest.

Most objectionably so far, last night I read one of Krauthammer’s Washington Post editorials from earlier in 2014 about the politics of Climate Change and “Hurricane” Sandy (yes, I know it was technically a tropical depression when it arrived ashore).

Honestly, I’m no climate expert but I was able to rubbish in my mind everything that Krauthammer said on the matter. I plan to maybe write a comment here specifically dedicated to how and where Krauthammer is devastatingly wrong on Sandy. But alas, it might have to wait a while. I have lots of things to do today.

Ray,

I am yet to read your comments in response to me. Give me some time and I promise I’ll deal with you later! Right now I’m starving and need to rummage some lunch for myself. :)

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Comment on Of Maps and Men by Akbar Palace

Sun, 2014-11-16 18:28

The good news is that Krauthammer just has to hang in there for a while longer and there’s a very good chance modern medicine will get him out of that wheelchair.

Samer,

I doubt it. But I am hopeful strides in this field will help those in the future with similar ailments.

I hate to compare Yassin to Krauthammer, as Yassin was a disgusting anti-semite.

http://en.m.wikipedia.org/wiki/Ahmed_Yassin

Enjoying your posts as always.

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Comment on Of Maps and Men by Ray

Sun, 2014-11-16 18:25

And get payment for :)

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Comment on Of Maps and Men by Ray

Sun, 2014-11-16 18:19

If you produce 10% of the apples and agree with another producer of 10% of the world’s apples (but whose economy does not rely 90% on apple production) you pretty much have those that do cornered.

What else do Iran and Russia really export?

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Comment on Of Maps and Men by Ray

Sun, 2014-11-16 17:59

Samer,

It is very difficult to rig the oil market to higher prices without a cohesive cartel. A sort of Mafia that agrees to regulate production and the price.

If you haven’t noticed, the “Bosses” aren’t so cohesive these days. There is pretty much disarray between them.

However, it is pretty easy to take massive short positions in the “market” when you decide to start selling your oil at $80 to the US. You make money both ways.

Capice?

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Comment on Of Maps and Men by Mustap

Sun, 2014-11-16 08:37

It is very likely that this QZ writer is ill-informed about the superior Wisdom of the Wise Kingdom.

That’s the only reasonable conclusion one can make

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Comment on Of Maps and Men by Samer Nasser

Sun, 2014-11-16 05:47

Final comment on that garbage qz dot com article I linked to in my previous post.

Someone please give the author a Nobel Prize in Economics for this concluding paragraph of the piece:

“Finally, the main market reason for Saudi taking these actions is the surge in US shale oil production. With lower prices, the Saudis are testing the will of upstart shale drillers to stick out a period of narrow profit or even losses. In a recent report, the US Energy Information Administration said low prices will result in a halt to some US drilling but that most of it will go on, resulting in a continuing production surge. That means that the US industry won’t see relief from the sweating for some time.”

So yeah, it is US production which is surging, but it’s the US which is being “sweated” by low prices from Saudi Arabia?! This idiotic author makes no sense and doesn’t realize that surging production naturally leads to lower prices, and that the US is actually more responsible for this than any other more-mature producer.

He’s just maliciously baiting the Saudis and playing the victim, while irrationally portraying a scenario that is exactly the opposite of what is alleged, where the US is the one “sweating” the Saudis and not the other way around!

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Comment on Of Maps and Men by Samer Nasser

Sun, 2014-11-16 04:47

OK, I was feeling bad about not being nearly diligent, thorough, updated and expert enough in my long response from a few days ago to Akbar Palace and Ray regarding their hallucinatory allegations of Saudi price manipulations of the oil markets.

But then I came across this article on Twitter today and my jaw literally dropped due to how stupid it was! Seriously, my throwaway comment from a few days ago on a subject which isn’t even my dedicated line of work was a PhD dissertation compared to this stinking pile of BS!

http://qz.com/296000/the-saudis-say-there-is-no-price-war-but-they-are-experts-at-sweating-their-rivals/

So let’s get this straight, just for a laugh! We clearly live in an international era of the “national oil company”, and the “rentier state” that “balances its budgets from the proceeds of selling oil”, but the sublime genius who wrote this article, despite quoting the Saudi Oil Minister repeatedly denying that a price war was taking place, thinks Saudi Arabia is executing a “Rockefeller-style good sweating” of its rivals?!

This Rockefeller reference really cracked me up, especially when to provide ominous context the author reminded us that Rockefeller “ended up controlling 90% of the American petroleum market”.

So assuming the Saudis are indeed stupid enough to make an anachronistic Rockefeller-style play, how exactly would it end? However long it takes, let’s say 2-5 years as the article states, what happens then? Does an exhausted Putin hand over the shares to Gazprom or whatever, the leases to the fields, the keys to the tankers and beg the Saudis, “Take it all but please, just pay our pensions and our government budget!” :)

This would have to occur not once but several times across the globe for the Saudis to go from controlling 10% of the market to 90%. But Rockefeller operated 100 years ago in a shallow, primitive, private, opaque, unregulated and domestic market. It’s callous and maniacal to argue, as this article does, with no concrete data other than a copy-and-pasted price chart, that his bullying tactics and strategies would have any traction at all in today’s complex, global, well capitalized oil market.

Besides, I’ve already argued that Saudi Arabia can’t increase production substantially and sustainably on a whim (these things require the careful planning of many years of multi-billion dollar capital investment). So even if Saudi Arabia does singularly discount its product by a large margin, granted it would draw incremental demand that normally would go to other producers, but it might not otherwise perturb those producers all that much. This additional demand would eventually plateau, since it would consume all of Saudi supply, emptying it out of the market like a barren clearance rack at a local department store. That is why the oil price is determined at the margins of the fungible oil market as a whole, not at the individual margins of Saudi Arabian (or any other national) production.

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Comment on Of Maps and Men by Samer Nasser

Sat, 2014-11-15 22:52

Akbar Palace,

I’ve known about Charles Krauthammer for years without giving a toss but today I learned something profoundly new about him that I had no idea about previously.

He’s apparently in a wheelchair, having suffering a spinal cord injury after diving into a shallow pool at Harvard Medical School and hitting his head on the bottom.

I’m sure you, being such a loyal fan and adherent, know this about him. I swear it reminded me of Sheikh Ahmed Yassin, the founder and spiritual leader of Hamas, who was also confined to a wheelchair after sustaining a spinal cord injury while wrestling a friend in Gaza.

The good news is that Krauthammer just has to hang in there for a while longer and there’s a very good chance modern medicine will get him out of that wheelchair. Did you hear about those Polish surgeons and that Bulgarian knife attack victim in Europe (London?) earlier this year? They took him from a wheelchair to a walker.

Here in the US, I follow the fantastic research being done by Eric Lander’s Broad Institute at MIT/Harvard. Then there’s the superb Department of Biology and Biological Engineering at Caltech. Add Stanford, UC Berkeley and Johns Hopkins into the mix, not to mention everyone else, like the Howard Hughes Medical Institute, Scripps Research Institute and the NIH, Japan’s RIKEN, the UK’s Sanger, etc. and there’s every reason to urge Krauthammer to leave politics to the mediocres and devote the rest of his life to discovering the scientific knowledge that might ultimately alleviate his own debilitated condition.

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Comment on Of Maps and Men by Akbar Palace

Sat, 2014-11-15 06:05

I plan to retire in Saudi Arabia.

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Comment on Of Maps and Men by Ray

Fri, 2014-11-14 20:06

Oil based Tyrants need to radically rethink their future.

It does not look good for them long term … on any level.

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