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 - Horsepower Defined - by Staff. Indicated Horsepower This represents the power developed in the enine cylinder as obtained from the pressure in the cylinders. This is pressure obtained from an indicator which shows cylinder pressures. Indicated horsepower does not represent the actual useful power delivered by the engine. Brake Horsepower This is the actual horse power delivered by the engine to the shaft. It is equal to the "indicated horsepower" less the friction of the engine. It is useful hor
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