Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Think4Yourself who wrote (59678)	2/3/2000 4:14:00 PM
From: SliderOnTheBlack	Read Replies (2) of 95453

Actually the only interest, or influence the USA has in the ME is - Protecting US Oil interests and our military bases; and to some extent supporting the friendly governements & our anti-terrorism intelligence networks. Trust me - we were as eager to build an armed force in Saudi during the Gulf War to protect our own vested interests as the Saudi's were to have us - it was not out of sheer benevolance - but, rather sheer self - serving greed that we were there - period. Same thing for the rescue of Kuwait - Saddam would have doubled+ his Oil reserves and become THE player Globally in the Oil Markets - we had no choice but to stop Saddam. OUR domestic military interests, keeping a close proximity to N Africa, the ME- protecting Israel & Europe; as well as protecting the price of Oil is our self serving interest - and that self serving interest is a "valueless" poker chip when we sit down to play cards with OPEC and try to exert any "REAL" pressure on them in easing production. I don't think we can do diddly squat - other than kiss their ass and plead on our knees - Richardson proved that; notice how damn quickly that asshole retracted his SPR comments !?!?!? People - OPEC AINT CUTTING ! - period. not yet.... Look at all the articles today about crude settling below $20 by year end - do you think OPEC will let the speculators take over again here ? If fundamentally - analysts see crude settling under $20 by year end "if" OPEC eases production - THE ONLY QUESTION THAT NEEDS TO BE ASKED IS: Do you think OPEC would turn over the price of Oil once again to the speculators in a negative sentiment market ? ... a rhetorical question folks. OPEC will not cut - because they can't ! The speculators will be dying to take this to the other extreme on any wavering here - OPEC knows it. It will take $30+ to settle down to $22ish. If they ease here - we could see $16 Brent - and they dont want that. The world functions just peachy at $25 Brent - bank on it. The way to guarantee $25 Brent for the next 18 mos, is to take it to about $32ish.... just watch what they do.

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