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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: SliderOnTheBlack who wrote (35408)1/19/1999 10:22:00 PM
From: marc chatman  Read Replies (1) of 95453
 
I haven't been reading all the posts on Iraqi oil production. Will the new policy result in a real increase in Iraqi production, or will it simply move into normal distribution channels much of the Iraqi production now being moved through the black market?

If the latter, isn't it more likely to force OPEC (i.e., Saudi Arabia -- which took over the Iraqi quota) to recognize the "real" Iraqi production number and deal with it?

*OT* While I am sympathetic to the plight of those in the US suffering from low oil prices and to a lesser extent the national security argument, I believe that Government intervention to prop up inefficient industries (be it through subsidies, price controls, or whatever), inevitably fails.
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