Publications: Notes at the Margin

A Strictly Business Decision (October 20, 2014)


Much was written last week regarding the oil price decline. Many asserted it was transitory and would soon reverse. Others, such as Goldman Sachs analysts, proclaimed it was “too much, too soon.” As prices rose Thursday and Friday, some observers even suggested the decrease had run its course.


The down trend is not over. It has just started. This is not about politics, as many believe. Market events are unrelated to disputes between the United States and Saudi Arabia, ISIS attacks, or Syria’s instability. They also have not resulted from a secret pact between the US and the Saudis to squeeze Russia. No, this is about business, as this week's report explains.


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