Global Santa Fe (GSF) (formerly Global Marine) Message Board

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Gold/Mining/Energy : Global Santa Fe (GSF) (formerly Global Marine)

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To: Ram Seetharaman who wrote (1317)	3/11/1999 12:19:00 PM
From: Doug Skrypek	Read Replies (2) of 2282

Guys: I think everyone needs to calm down a little bit. This move is based solely on rumors of an OPEC production cut. Even if OPEC cuts, IRAQ will continue to pump more than 2MM bbls per day, which the UN will probably increase to 2.5MM under the oil-for-food program. Venezuela has said they are NOT going to cut, Nigeria can't afford to cut, Russia won't cut, Mexico and other Latins cannot afford to cut. This rally will stall. It is in the vital interests of the US to have cheap oil, high energy costs mean inflation and no growth-not in Clinton's best interests.

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