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: Douglas V. Fant who wrote (20454)	4/27/1998 8:57:00 AM
From: 007	Read Replies (2) of 95453

Latest crude price forecast from Noesis - very bearish: Let's hope that they're wrong. Speaking of which, does anyone have an opinion as to their accuracy in the past? Douglas, thanks for the summary on Libya and Nigeria. It's interesting to have some grasp on the ethnic divisions that lead to internal conflict in these countries. The more one looks into these divisions, the more it becomes clear that we should expect more political disruptions in OPEC countries. However, I suspect that political instabilities generally lead to very temporary rises in crude oil prices, unless of course, they result in a more permanent reduction in supply. Based on the Iran/Iraq report, that may be a likely outcome of any conflict between those two. As for moral correctness, it would be easy to view these circumstances as merely profitable opportunities and we could even unknowingly become cheerleaders of violence, but we should never forget that in the midst of any of these conflicts innocent lives are on the line. 007 oil-gasoline.com

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