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: John Carpenter who wrote (39380)	3/9/1999 6:01:00 PM
From: Gary Burton	Read Replies (1) of 95453

What Ven said today was "no new cuts" but then they added almost in the next breath that all the others must adhere to their committments before any new cuts could be considered... Translation.. "let's see what Iran has to say next week and gee maybe if by Mar 23 everyone at the table suddenly is able to say that they're now onside (last minute cuts) we can then go ahead and cut some more.Sure would like to show the union who's boss..sure would like to show the other guys at the table how tough and important we now are in shaking them down to cut down to their prior agreed level.".....My 2c is that since Ven has now gone public with the 'no new cuts' statement ahead of the meeting, it is mere posturing to get others onside and allow Chavez to be able to assume a leadership role in the Club. If they had said nothing, I'd be more worried that they meant just that period.

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