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Check the big board right now. The dow is off from its lows from earlier. Voting down the Gold Standard over the weekend. Oil is still near a fouryear low. Touching 63 earlier. There is a bounce in oil today. Gas still dropping about a penny per day. 2. 76. Lets bring in eric boling. He knows a thing or two about the oil market. It looks like the saudis are taking direct aim. Is that true . Yes. Yes. They want to come off and think we will not cut production. Reducing about 90 billion barrels a day. They will not cut production because they want to give the u. S. Economy a boost. They are our friends. That has nothing to do with what this is about. How quickly can we scale back production to meet the decline . Maybe not the demand we were expecting going forward. If they can keep the prices low we had a five year low. They were down maybe 40 . As long as the saudis opec said they will not cut production. I was on about a month and ....
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