Putin is announcing he’s getting out of Syria. Mission accomplished. He saved Assad, demonstrated that his military is capable of intervening in, and controlling, events in the Middle East. Iran certainly took notice, and their decision to play ball on controlling world oil production is bullish for oil, over the long term.
Putin has to get the price of oil up. The Russian economy depends on it. Everyone in the Mideast wants higher oil prices as well. The Russians will work with anyone to get the price up, and have shown they’re willing to act.
So I think we’ll see oil settle into a $35-40 range. On that basis I got back into COP this morning, on a dip. I’m going to stick with it this time, as long as it doesn’t break sharply down. The people at Fox Business were talking about the makeup of a Trump cabinet. They think he’s really the favorite for the nomination, but they’re wrong. An institution like the Republican Party, which has been around for 150 years, has ways to prevent hostile takeovers. Goldwater did it in ’64, and McGovern did it for the D’s in 1972. But Trump is an alien, a pure opportunist, and potentially dangerous. There are ways to deal with him. A political party controls its own rules, and can change them if necessary. For instance, there’s nothing to stop the Convention from adopting a rule requiring a 60% majority of delegates to nominate. The D’s used to require 2/3.
Forget about Trump. It’s Cruz. When people wake up to that, COP’s going to look pretty damn good. And I’m betting on it.
My little article about Elizabeth Jackson is up at American Thinker. I’ve lost my ability to link to it. My ignorance of computers annoys me.