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Politics : Idea Of The Day
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To: Big Dog who wrote (20697)9/27/1998 10:22:00 AM
From: J. P.  Read Replies (1) of 50167
 
Missing 81 Billion Dollars

oil-gasoline.com

<From the "oil-patch" perspective, the current world financial problems can be related, in part, to the fall in the price of oil - a catalyst, or as we say in the U.S. "the straw that broke the camel's back." Over the past 9 months, industrialized countries collectively saved an estimated 81 billion dollars. That's 81 billion dollars that did not flow to producing countries and oil companies. No doubt many emerging nations that find themselves in financial trouble this year were extended credit based on their forecasts for crude oil production and sales. No one anticipated that a mere 3% increase in the world's crude oil production would result in a 32% reduction in world-wide cash flow. >

<The NOESIS forecast shows recovery of crude oil prices in 1999, assuming producing nations continue to hold crude oil production down. By next year, the U.S. will be in a normal buying mode, which will increase bidding for crude oil available on the open market and will further tighten the supply.>

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