FII Starts. How Will It Go?

[Marina Schwarz + 1,576]

Soo, the "Davos of the Desert" began today and I've been hanging around in Twitter only to read that while it started with a full room, the so-called crowd quickly trickled out. Total, Trafigura, Baker Hughes and Schlumberger are there and the Saudi media already made boisterous announcements of $50 billion contracts to be signed but most of these are already announced deals, almost no new stuff. 

[John Foote + 1,135]

14 hours ago, Marina Schwarz said:

 Total, Trafigura, Baker Hughes and Schlumberger are there and the Saudi media already made boisterous announcements of $50 billion contracts to be signed but most of these are already announced deals, almost no new stuff. 

Actually not contracts, MOUs, which are completely non-binding. I'd be bet money the $35B of stuff with Aramco was window dressing which was already going to happen. Trump's massive weapons sale is mostly a mirage as well, and adding up the dream list agreed to, and approved, during he-who-won't-be-named's administration. And new massive sales require congressional approval. The reason they haven't had to approve Trump's deal, there was no deal. Just a MOU.

Pay no attention to the facts, it's all about the illusion. 

[Marina Schwarz + 1,576]

Haha, yes, John, I was thinking the same thing. And they're old, too.

9 hours ago, mthebold said:

What does this conference accomplish anyway? 

Shows how cool Saudi Arabia is? Bad timing, I suppose...

[John Foote + 1,135]

On 10/23/2018 at 1:17 PM, mthebold said:

What does this conference accomplish anyway? 

They love a self-grandizing spectacle. I’ve highways repaved for a three day event, and a GOSP inactive for over a decade repainted just for the bling.

[Marina Schwarz + 1,576]

Haha, this sounds like the Soviet bloc in its heyday.