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: Gameboy who wrote (27605)	8/13/1998 2:43:00 AM
From: Snowshoe	Read Replies (1) of 95453

>>I concur except if I were OPEC I'd hold out for 10 days. An immediate injunction on all shipments - screw the contracts, screw the commitments, etc. because as it is OPEC is incurring disastrous ruin which calls for drastic action. Scratch 300 million barrels. If that didn't work, try another 10 days and another 300 million barrels.<< Do you any idea how utterly ridiculous you sound? The Spice Girls are more organized than these guys. OPEC can barely implement minor cuts, let alone conduct an embargo. Oil traders would die laughing if they tried it. Get real. >>Wouldn't life be a lot rosier for OPEC with oil at $22/barrel even after 20 days of no revenue?<< Have you stopped to consider the implications of $22 oil for the world economy, given the strong U.S. dollar and desperate economic conditions in Asia? Do you really think the demand exists for high-priced oil? -Greg

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