The issue is does OPEC think the global economy is strong enough to withstand the change in price. It just so happens that the economies that are seeing the biggest price increases -- the United States and China -- are also the strongest.
More Quotes from Richard Berner:
If we are right that both the pace of economic activity and corporate earnings are still fraught with near-term, downside risk, equity values and risk spreads will carry a recession uncertainty premium for some time -- a premium that the Fed will still want to counter.Richard Berner
Despite unseasonably warm weather in North America, the threat of a disruption of Iran's oil exports has contributed to higher crude and refined product prices.
Richard Berner
I still see that companies went overboard in slashing their work force in an effort to cut costs and to eliminate the hiring excesses of the 1990s, ... I think we have a shortfall of about 1.8 million jobs to make up.
Richard Berner
The unemployment rate in the first quarter should have been at least 6.3 percent -- significantly higher than January-February's 5.75-percent average,
Richard Berner
The US economy is currently in the midst of the most profound hiring shortfall of any modern-day business cycle.
Richard Berner
The underlying pace of the economy is strong. The fact that global growth is looking better will keep the economy strong through the balance of this year.
Richard Berner
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Based on Topics: Change QuotesEverybody's an artist. Everybody's God. It's just that they're inhibited.
Yoko Ono
I've got all the money I'll ever need, if I die by four o'clock.
Henny Youngman
Family quarrels are bitter things. They don't go according to any rules. They're not like aches or wounds, they're more like splits in the skin that won't heal because there's not enough material.
F. Scott Fitzgerald