Stockman Scott's Political Debate Porch Message Board

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Politics : Stockman Scott's Political Debate Porch

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To: RealMuLan who wrote (19327)	5/20/2003 2:16:40 PM
From: Jim Willie CB	Read Replies (3) of 89467

OPEC is a Saudi BoardRoom, nothing more they announce what they are doing and others can follow or risk getting their nuts cut off the only interesting action in OPEC now is their blustery conflict with Russia Russia sooner or later will be opposing Saudi when they do, they will lose their nuts since Saudi produces oil at $3/barrel nobody but nobody touches Saudi costs the Russian KGB (I mean govt) doesnt like to be pushed around OPEC has been largely meaningless for years individually, these producers are forces to be reckoned with but they have been violating their own guidelines for years they have been exaggerating their reserves for years which has allowed them higher guideline production levels something to watch is Suncor production costs in Alberta Canada several years ago, cost per barrel was $20-22 in 1999-2000 it was down to $11-12 now it is $9 and still coming down their Athabasca Oil Sands contain as much oil as Saudi Arabia their costs are the lowest worldwide, outside the Persian Gulf Athabasca has over 200 billion barrels of oil it can go a long way to making North America less dependent / jim

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