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: BigBull who wrote (39886)	3/14/1999 12:16:00 PM
From: diana g	Read Replies (2) of 95453

BigBull, FWIW I agree with you that there is reason to be optimistic about Demand picking up. Not certain, but optimistic. Also, I think Razor is too pessimistic about producer compliance. I'll follow Sarge's example and quote myself <G> : Message 8149444 <<<<...Although cartels often fail, as Razorbak and others have pointed out, I think it important to bear in mind that when they fail they fail because the members are inclined to act in their own individual best interests. If circumstances can be arranged so that cheating is ultimately non-beneficial, then for the time being the cartel will be effective and remaining in compliance will work to the benefit of its members. If this were not true, cartels would not exist in the first place. Eventually circumstances change and agreements fail, but that could be a great while in the future. ...>>>> Of course Razor is much more experienced and I take his opinion very seriously. But still, I maintain my opinion that Compliance will be better, much better, than he expects. regards, diana

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