Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: The Perfect Hedge who wrote (12417)	2/22/1998 4:15:00 PM
From: marc chatman	Read Replies (1) of 95453

Maybe I've been missing something, but I have not been able to figure out how the proposed attack on Iraq would have altered the oil supply-demand situation. I don't think the US was planning on bombing Iraqi oil production facilities, were they? I don't think there was any immediate threat of Iraq bombing Kuwaiti oil fields. Sure there would have been a knee-jerk reaction for a couple of days. Maybe that would have created a short term trading opportunity. But I don't think it would have stabilized oil prices at a higher level for any significant period. And anyone looking for a day trade could just as easily trade the short side. I'm not thrilled about Kofi Chamberlain running our foreign policy, but I don't think his actions are relevant to where these stocks are headed, except for maybe the next few days. I hate as much as anyone to see the value of my investments drop, but I will be buying any substantial dips.

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