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Title : Saudi Arabia Will "Take The Gloves Off" -- October 15, 2018
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Saudi Arabia Will "Take The Gloves Off" -- October 15, 2018

Why I love to blog: yesterday I posted this -- Saudi Arabia: Vision 2030 -- Saudi Aramco IPO -- petrochemical behemoth -- down the tubes?

Today, a headline story in the WSJ -- "Saudi's economic dreams falter as western executives quit conference." Wow. JP Morgan's Dimon among a host of executives pulling out of Riyadh's premier business conference.

Saudi Arabia’s dream of becoming an investment hub in the desert is unraveling.
JPMorgan Chase & Co. Chief Executive James Dimon on Sunday became the latest prominent executive to back out of the kingdom’s premier business conference amid questions about the disappearance of journalist Jamal Khashoggi. Mr. Dimon had been a featured speaker, and his bank has longstanding ties to Saudi Arabia and is advising it on deals.

Mr. Dimon’s decision was swiftly joined by two other Wall Street titans: Laurence Fink, chief executive of the world’s largest asset manager, BlackRock Inc.; and Stephen Schwarzman, CEO of private-equity giant Blackstone Group, according to people familiar with the matter.

The three men spoke over the weekend and speculated that the Saudis might cancel the conference, according to a person familiar with the matter. They announced their decisions after it became clear that the event wouldn’t be canceled, the person said.

In a separate story, "BlackRock CEO pulls out of Saudi conference."

I suspect we will see talk from Saudi Arabia that "the gloves are off." They will push oil to $100. Just in time for the mid-term elections.

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