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Politics : Formerly About Advanced Micro Devices
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To: Jim McMannis who wrote (123709)9/11/2000 4:27:20 PM
From: tejek  Read Replies (1) of 1570570
 
Jim

You sound as if these countries are mired in poverty. Nothing could be further from the truth.

Now who are you calling rich? Indonesia or Nigeria or maybe Iraq? Maybe you are thinking of top of the heap Venezuela who has a president that thinks Cuba/Castro is the best thing since Haagen-Dazs, or back from religious froth Iran!

From where I am sitting, the only truly wealthy members are the Saudis, Kuwaitis and the Qatis. Fortunately they also happen to be the ones closest to the USA and the western countries.


Last May they said they were cuttting production to lower crude prices. How low did the lower prices last? Truth is that they are still at or near the highs.

That's true....although it may not be OPEC's fault. The general sentiment was that shippings were higher but there were refining problems and demand increased.

As far as cheating...there has always been cheating.
Maybe they don't want world recession, heck, this is part of Clintons pathetic "begg 'em" rhetoric. OTOH...they are all for the high crude prices they are getting. Who wouldn't be...?

I agree with that theory to a point. However they do remember that the last time they raised oil prices too high, it took 20 years for prices to come back into to alignment with production.

ted
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