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Gold/Mining/Energy : Gold Price Monitor

GDXJ 94.04

+0.6%

4:00 PM EST

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To: Hawkmoon who wrote (50012)	3/4/2000 1:09:00 PM
From: Braincramp	Read Replies (1) of 116764

Ron, think for a moment. What would happen to the North American oil companies? They would all be broke. If the OPEC oil producing nations wanted to they could produce oil at a profit for $5.00 a barrel. North American producers need $15 to break even. So, if everybody pumped oil at their cost, in four years the North American oil industry would no longer exist. This would include most of Europe's oil industry as well. Then countries like Saudi would be able to charge us $100 per barrel. OPEC was put in place, to control the price of oil, so that everybody would have a level playing field.

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