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Politics : Formerly About Advanced Micro Devices
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To: Jim McMannis who wrote (123706)9/11/2000 3:50:30 PM
From: tejek  Read Replies (1) of 1570088
 
Like a fox...
Ted, ...if you were OPEC would you rather sell your oil at $33/barrel or $25/barrel...?
Thing now is that they are getting smart and managing the price...like AG and his soft landing.
So maybe they increase a little...but not enough...just enough to keep everyone hooked.
Either everyone gives up their gas guzzler, we drill offshore and in the Arctic wildlife refuge or we learn to live with $30+/barrel and $2+/gal gas.

Jim,

I don't agree....already several nations have been selling above their quotas...they want high prices but they need $$$, lots of it. Only two OPEC nations have a relatively small population in proportion to their oil reserves: S. Arabia and Iraq. And Iraq needs the oil $$$ desperately.

Only the Saudis have whiggle room and they are smart enough to know that if the price of crude is pushed up too high, the world may tip into recession big time. So they are increasing production again.

I think why we are not deriving benefits from the increased production in the form of lower crude prices is because demand in Asia/Japan is increasing as they recover from their respective recessions.

Not that I disagree with your argument that we are too dependent on oil but like an addict, we seem to crave that oil fix.

ted
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