Oil Crises
In the year of its founding, Foreign Reports benefited from one of the first “oil crises” that have afflicted the Middle East over the years—the 1956 Suez Crisis, with its concomitant closure of the Suez Canal, which was a great boon to notable tanker owners of the time, who were avid clients of Foreign Reports.
Since that time, Foreign Reports has closely covered for its subscribers all the major and minor crises that have bedeviled world oil markets ever since, as well as the broad geopolitical trends that have affected markets and business conditions. The methods it uses to anticipate the unanticipated are relatively straightforward and avoid being unduly alarmist. They are methods that have been refined over time.
Most every crisis begins with a series of rumbles, and the rumbles have to be distinguished from mere bluster and bombast. Knowing who the players are, how they think, what they confide in others, their history of risk-taking and their own domestic political requirements is essential. As any potential crisis builds, often over a period of months, Foreign Reports writes up a contemporaneous narrative, covering the story as it develops, often focusing on key details, which, only later, historians pick up on and piece together.
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Famous quotes containing the words oil and/or crises:
“Opinions are to the vast apparatus of social existence what oil is to machines: one does not go up to a turbine and pour machine oil over it; one applies a little to hidden spindles and joints that one has to know.”
—Walter Benjamin (1892–1940)
“I am not fooling myself with dreams of immortality, know how relative all literature is, don’t have any faith in mankind, derive enjoyment from too few things. Sometimes these crises give birth to something worth while, sometimes they simply plunge one deeper into depression, but, of course, it is all part of the same thing.”
—Stefan Zweig (18811942)