These guys are not a big factor in domestic funds. German and swiss are much bigger, since the banks will lever their money for them (ie: the money comes into my fund already levered 2 to 1, and then i lever it again. Offshore is a different story. I think you guys give them too much credit. 911 notwithstanding. They do what they're told- the problem is they seem to take orders from both sides.
i get a "kick out" of the saudi spokesman zeev, cant remember the guys name, he appears on tv a lot and as their pr man...thin, fairly young, "slick" guy..kinda reminds me of grasso!!!
I have to assume that there were Saudis who had heard things, at least. If Saudi involvement in the put buying were proven, that would probably make a lot more people amenable to energy conservation, and that would be bad for oil companies. Seems very clear to me all of a sudden.