CNBC’s senior economics reporter Steve Liesman is in Texas this week, first to interview former Soviet leader Mikhail Gorbachev but also to attend the Permian Basin International Oil Show. (Liesman was once Moscow bureau chief of the Wall Street Journal.)
In an interview with the Odessa American, he talked about how he covers economics, and he stated that he tries not to predict the price of a barrel of oil, and he’s enjoying being able to talk to people in the industry first-hand.
Reporter Geoff Folsom wrote, “’I don’t do a whole lot of predicting of oil prices,’ said the business cable channel’s senior economics reporter. ‘But it makes a whole lot more sense now than where it was before.’
“Liesman was skeptical as to whether OPEC would be able to keep prices from falling.
“’They have shown a whole lot more ability to enforce prices on the way up than the way down,’ he said.
“Liesman is certain of one thing — the oil market is volatile.
“’When, in the last 10 years, oil has been $10 a barrel and $75 a barrel, I can’t say that’s a stable commodity,’ he said.�
Later, Folsom wrote, “Liesman said he was looking forward to his visit to the oil show. He said it would help him in his next life as a science writer.
“’I’ll be talking to guys in the business, rather than reading wire,’ he said. ‘I’ll get some firsthand knowledge.’�
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