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Gold/Mining/Energy : Anyone following UTI Energy Corp.?
UTI 29.22+5.0%2:46 PM EST
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To: John F. Poteraske who wrote (864)7/2/1998 11:25:00 AM
From: Nazbuster  Read Replies (1) of 1305
 
Yamani and a growing number of other Saudi oil experts argue that the kingdom should double it's present production capacity of 10.5 million barrels a day and flood the world market with cheap oil.

That's a depressing thought for several reasons.

1. I'd lose money on this stock.
2. It would be very bad for efforts to turn away from fossil fuels as a source of energy, something we ultimately need to do to survive on this planet.
3. The U.S. would ramp up their dependency on cheap oil and would be more vulnerable to economic blackmail.
4. I'd lose money on this stock.
5. I'd lose money on this stock.

Then again, the threat of dumping huge quantities might be a good way to get the wayward OPEC members to live by their quotas. How about the Saudi's announcing that they would offer oil at 2/3 the cost to the customers of any of their competitors who exceed their quotas... Now, THIS would stir things up!
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