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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Ilaine who wrote (49890)12/20/2000 4:38:24 PM
From: Archie Meeties  Read Replies (1) of 436258
 
Latest MEES data showed that OPEC failed to meet its stated quotas. While OPEC has demonstrated some restraint in production over the past 18 month, the MEES data has always shown that they produced in excess of their quota. So my interpretation of the recent MEES data showing production under quotas is that OPEC can't meet quotas b/c excess supply is just not there. Supportive of this idea is that OPEC production is flat (exluding Iraq). Non-OPEC supply is also flat, BTW.

Hope for resolving the imbalance in oil depends on exploration, not more OPEC supply. So at least part of Bush's "working with OPEC" means development of the gulfs resources with the help of US exploration technology (I'm sure HAL will get a nice slice. -g-). The other part means ANWR and drilling in the Eastern GOM. A tough fight would be to open up offshore California, but that might be floated as well.
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