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Non-Tech : Invest / LTD
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To: SJS who wrote (14396)12/17/2002 6:45:36 PM
From: The Ox  Read Replies (2) of 14427
 
I agree that talking shouldn't(won't) move the price of oil but our leadership has some responsibility to talk to OPEC about keeping excessively tight production restrictions in place at precisely the point in time when the whole world needs a break. Now is the time to say to OPEC that if you work with us, we will work with you at a later date. Cut us(the rest of the world) some slack when oil is at or over the top end of your self-imposed price range, especially in light of the geopolitical turmoil. He can also stand up and say, gouge us now, if you wish, but don't expect the world to forget the timing of this latest production "quota", if it turns out that we start facing $30+ oil for any length of time. OPEC's move was done at a time when the situation in Venezuela was very clearly getting worse. Much worse.
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