$80 Brent Acceptable for All
How do we determine what’s an acceptable price level to live with? Do we ask Mr. Yasin or do we ask the market. Mr. Yasin seems to mentally live in a world where there is one big benefactor with a knob with which he can set oil prices. And this great benefactor will – in his endless wisdom – do what needs to be done for everyone to live in eternal bliss. We had a number of countries that tried the great knob – most famous of all the Soviet Union. They all failed because people did not want to accept the fairness of living in misery. Ask ordinary folks in Venezuela what they think of the big knob. They would probably send it to hell.
$80 per barrel Brent is an acceptable level for all to live with. That’s according to Mohammed Ali Yasin, chief strategy officer at Al Dhabi Capital Ltd (ADCL), who expressed the view in a television interview with Bloomberg on Wednesday.
