Applied Materials No-Politics Thread (AMAT) Message Board

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Technology Stocks : Applied Materials No-Politics Thread (AMAT)

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To: Big Bucks who wrote (8839)	2/10/2004 12:39:26 PM
From: chomolungma	Read Replies (2) of 25522

The US really needs to make significant deals with non-OPEC countries that produce oil to break this price gouging...A significant preferential 5 year contract with Russia would do it, IMO. To do this could be Bush's best economic stimulous move, IMO....Buy oil at $24/bbl. Why would non-OPEC countries sell oil at less than market prices? I really think you grossly exaggerate the power that OPEC has. The market still sets the price of oil. And if oil, as it's now priced, is above equilibrium, then why are drilling plans by the major oil companies so slim? Clearly the market is telling us that higher oil prices are needed to produce the incentives to drill. As a holder of several oil service stocks which have done very poorly the last few years, I'd like the price of oil to stay above $30/barrel. If it fell to $24, drilling plans would decline even more and that's not good for the long term energy independence you crave.

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