Replies to post #2615 on VelocityShares 3x Inverse Crude Oil ETN (DWT)

[tzebedee]

And the zombie is at 39.59 pbl! Lol

[logic60]

Nice article Smittle, thanks much.

Greg

[Smittle]

Saudi Arabia expects to construct solar cell arrays in order to provide electricity and cut back on burning oil to generate electricity for domestic consumption.

Apparently they are now burning 25% of their oil to generate electricity for which they charge their citizens less than a penny per kiloWattHour. This low price means a lot gets wasted..

This is important because, the talked about "freeze" is a "production freeze", not an "exporting freeze". The more solar cells they install, they more oil they will export.