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Strategies & Market Trends : Strictly: Drilling II
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To: Frank Pembleton who wrote (4303)11/21/2001 11:09:26 PM
From: t4texas  Read Replies (1) of 36161
 
"opec...a historically doomed organization" says putin's econ advisor

i picked up this gem from a yahoo wrap-up of commodities from late this afternoon. who can be sure what russia will eventually do with its oil, but right now it appears the russians are determined to cause opec headaches.

"On Wednesday, Russian President Vladimir Putin's economic adviser said the government shouldn't heed OPEC's pleas to cut output more than the token 30,000 barrels a day already offered."

"``Nothing should be done because OPEC is an unreliable partner, a historically doomed organization and also because in the price war declared by OPEC, Russia has a more advantageous position,'' Andrei Illarionov said. He said the decision was left to the oil companies and any interference in the process was ``absolutely impermissible.''"

biz.yahoo.com
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