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: diana g who wrote (39889)	3/14/1999 12:58:00 PM
From: Crimson Ghost	Read Replies (2) of 95453

Diana: Right on about compliance. The "cartels always fail" mantra has become a relegion and article of faith for some. Even if true in the long run, they can have a lot of short-term success. When a small cut in output can send prices soaring while a small rise can send them plunging the incentives for cooperation are overwhelming. Especially considering the fact that a handful of producers control the bulk of the market. Very different from other commodities where supply is much less concentrated. Undoubtedly cheating will rise over time. But the OSX will be a heck of a lot higher before we have to worry about that.

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