Episode 276 • • 1:01:01 - 1:05:24
276: Cleopatra Returns
Oil Price Speculation, Suez Canal and $200 Barrels
Venezuelan Oil Minister Rafael Ramirez warned that oil could reach $200 per barrel if the Egyptian crisis shuts down the Suez Canal. The hosts argue that this is a "grand experiment" by financial institutions like Goldman Sachs to test the limits of speculation. They suggest the crisis in Egypt may be rigged to drive up prices and create a "killer deal" for insiders before an eventual collapse.