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Gold/Mining/Energy : Gold Price Monitor
GDXJ 94.04+0.6%Nov 21 4:00 PM EST
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To: Braincramp who wrote (50019)3/4/2000 1:23:00 PM
From: Hawkmoon  Read Replies (2) of 116764
 
Braincamp,

I fully understand that some OPEC nations are tremendously profitable on their oil production as compared to other OPEC nations.

I never stated that they should pump at cost. (Where did I state this?)

All I'm stating is that when they are DELIBERATELY choking off production to raise prices FAR ABOVE (as in 100% ++++) their production cost, AND IT BECOMES AN INFLATIONARY CONCERN to nations trying to pull themselves out of recession, IT IS IN OUR INTEREST TO ACTIVELY SEEK TO MODERATE THE VOLATILITY.

I would be quite content with $25/barrel, as it would guarantee a profit for all but the most ineffcient of producers, permit long term exploration/exploitation of new reserves with cost saving technology, AS WE AS providing the necessary incentives to encourage use of alternative fuels.

Now I guess that makes me out to be some kind of extremists since you apparently think that I'm out to drive the oil companies in bankruptcy. But nothing is further from the truth.

In fact, I look at oil costs in the same manner as I look at a sales tax, or even a tobacco tax. Both are regressive burdens upon those who can afford it least. Rich people can suck up the cost of paying an additional 20% more for fuel. (They just cut back on buying starbucks every morning). But poor people rely on their cars to reach their work, and those additional costs hurt them far worse on a percentage of income basis.

That's why there is such a political outcry.

Regards,

Ron
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