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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: pater tenebrarum who wrote (127646)10/5/2001 11:19:06 AM
From: Haim R. Branisteanu  Read Replies (1) of 436258
 
Appropo wisdom ........... oil prices adjusted some what to economic reality. Now OPEC with Saudi Arabia included want to hike oil prices by curtailing production which in turn will prolong and deepen the recession. Is that wisdom or greed and selfishness ??

Saudi Arabia extraction cost for a barrel of oil are around $2 to $3 similar to other countries in the golf, so there is not an issue of selling at a loss even at $10 a barrel.
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