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Strategies & Market Trends : Currencies and the Global Capital Markets
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To: Hawkmoon who wrote (2571)9/12/2000 9:34:28 AM
From: Henry Volquardsen  Read Replies (1) of 3536
 
Ron,

I don't know if there is any specific agenda. But on pure market dynamics it would make sense for the oil producers to criticize consuming nations taxes. If European taxes make up 50% of the end user price (I picked that number out of the air) that leaves 50% for the producers and processors. European consumers are feeling the bite of rising prices and looking for relief. OPEC is giving lip service to trying to help capping off oil prices. It is only fair, from their perspective, to say why should we bear the complete burden of reducing prices? Why shouldn't the taxman who is half the cost also kick in? It is in their interest to keep a larger share of what ever price the market will eventually bear. After all no one was helping them out when the West was benefitting from $11 oil.

So I don't think the oil producers really care if Europe restructures or cut taxes. It is just about who gets how much of the pie.

Henry
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