Publications: Notes at the Margin

Those Who Don't Talk Know, Those Who Talk Don't Know/True Stupidity at OPEC + (April 3, 2023)


The “talk” and “don’t talk” observations above come from the Tao Te Ching, purportedly written around 400 BCE by the Chinese philosopher Lao-tzu. They clearly apply today to the oil and financial markets.


We view the OPEC+ production cut announced on April 2 as one of the most stupid decisions ever made by the organization.


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