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Gold/Mining/Energy : Gold Price Monitor

GDXJ 97.80

+0.9%

Nov 19 4:00 PM EST

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To: goldsnow who wrote (49879)	3/1/2000 7:07:00 PM
From: Hawkmoon	Read Replies (2) of 116764

"April Nymex unleaded at $1 per gallon could seem pretty cheap later this Spring." Goldsnow, I'm sure you read plenty of news relating to the oil sector. Thus, recently I'm sure you have heard that Bill Richarson, SecEnergy has been taking a world tour to secretly urge oil producers to increase output before the political pressure grows so strong an unprecedented US intervention in the oil market results, by way of the Strategic Petroleum Reserve. I'm sure that Richardson has been twisting some arms, strongly emphasizing that once the first market intervention is undertaken, it will let the political genie out of the bottle, and potentially lead to future interventions. That's why Clinton has not ruled out such an intervention. The Reserve is his leverage point. So don't bet on this oil issue continuing into the summer. After all, Saddam Hussein is still a thorn in their side and the persian gulf oil producers still rely upon the US to protect their political powerbase. Regards, Ron

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