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Gold/Mining/Energy : Gold Price Monitor

GDXJ 109.23

+3.7%

Nov 28 4:00 PM EST

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To: Broken_Clock who wrote (14303)	7/9/1998 6:56:00 PM
From: goldsnow	Read Replies (1) of 116779

>>>No matter what happens to the worldwide economy, oil consumpion will still increase...>>> That may be true..But problem with oil (not gold) that oil producing countries are in no position to cut-down on production of oil (the only revenue) Thus unlimited production may not only totally offset consumption, but as the price declines OPEC/Russia may be paradoxically forced to further increase or maintain level of production to sustain their economies... Footnote XTO is more than oil (interesting natural gas play--and of course gas can't be economically transported to North America)

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