Talks about cutting oil output show Russians and Saudis feel the pain | Business | The Guardian:
"Imagine for a moment that the US, EU and India announced that they were willing to freeze carbon emissions at their current level on the condition China did the same. Would anybody believe that this was a serious attempt to tackle global warming?
Unlikely, in all honesty, yet the financial markets seemed to get awfully excited on Tuesday about talks between Saudi Arabia and Russia that would limit oil output at its January level provided Iran and Iraq agree to do the same.
Let’s be clear: this is not a deal to put a floor under oil prices; it is a pretty lame attempt at hoodwinking the markets into thinking a deal has been done to put a floor under oil prices."
'via Blog this'
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