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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Douglas V. Fant who wrote (27863)8/17/1998 1:20:00 AM
From: Richard D  Read Replies (2) of 95453
 
<<The Saudis will continue in power in Saudi Arabia. Don't let the fundamentalists' ranting and ravings or their bombing innocent Africans (Kenya and Tanzania) fuzz the picture.>>

Doug,

This is exactly what was said of Iran in the early 1970's. Iran and its Shah were one of America's staunchest allies. Though the fundamentalists despised western culture, much of the country was pro-western. They had a strong (some would say brutal) security force (Savak, I believe) much like Saudi Arabia. They were a huge buyer of U.S. weapons, and their military trained with the U.S. much like Saudi Arabia, now. The key difference that I can see from a distance is the Sunni vs Shiite Muslims, the latter being a bit more extreme in their actions. The U.S. can alter events that are brought about by external forces, like in Kuwait, but we are rather helpless when it comes to internal forces. Things can change extremely rapidly with a revolution.

However, all in all, I don't see anything happening very soon there. It's kind of like, in the past, waiting for South Africa to give up Apartheid. People knew for 30+ years it would happen. We just didn't know when it would happen.

Richard

PS While Asia and the S&P futures may be taking it on the chin tonight, oil is still up 13›. So all bets are off on the OSX tomorrow.
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