Thursday, November 13, 2014

Quote of the day...

...The monopoly price setter claims they do not set the price.

As a student of opacity in language the below quote from Mr. Ali al-Naimi is a gem, and when someone states "talk" has "no basis in reality", that kind of excess is an excellent indicator for deception.

Saudi Arabia's oil minister, Ali al-Naimi, yesterday broke months of silence to speak publicly about the Gulf nation's stance on the oil market. He dismissed claims that the country had triggered a "price war" to outcompete rival energy sources like US shale
"Talk of a price war is a sign of misunderstanding, deliberate or otherwise, and has no basis in reality," Mr Naimi said, according to Reuters. "We do not set the oil price. The market sets the prices."

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