OK, technically the Saudis aren't dumping. The legal definition of "dumping" is to sell a product at a price that's less than its cost of production. The Saudis aren't "dumping" because their cost of production is less than that of just about any other country. That said, I'm not so sure other oil exporting countries that are seeing their oil revenues drop to zero because of low prices would make such a distinction.
How about this: in the future, instead of saying "the Saudis are dumping oil", I'll say "the Saudis are selling oil at a price below what many of their fellow OPEC members can profitably produce it". That's a lot of typing, but if that's what it takes to make you and the other lawyers happy, so be it.
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Today's Featured Article - Hydraulic Basics - Part 2 - by Curtis Von Fange. In the last entry to this series we gave a brief overview of hydraulic system theory, its basic components and how it works. Now lets take a look at some general maintenance tips that will keep our system operating to its fullest potential. The two biggest enemies to a hydraulic system are dirt and water. Dirt can score the insides of cylinders, spool valves and pumps. Wate
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