Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Maurice Winn who wrote (60626)	2/28/2005 7:36:33 AM
From: elmatador	Read Replies (2) of 74559

Browne's opinion that match MQ's: <Sir John Browne, chief executive of BP-Amoco, is now working on a similar assumption.> The assumption was on oil at about USD11. <<OIL is cheaper today, in real terms, than it was in 1973. After two OPEC-induced decades of expensive oil, oil producers and the oil industry as a whole have more or less given up hope that prices might rebound soon. The chairman of Royal Dutch/Shell, Mark Moody-Stuart, three months ago unveiled a five-year plan that assumed a price of $14 a barrel. He has since publicly mused about oil at $11. Sir John Browne, chief executive of BP-Amoco, is now working on a similar assumption.>> OUCH!!!!

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