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Politics : Idea Of The Day

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To: GROUND ZERO™ who wrote (25539)	4/21/1999 11:21:00 AM
From: Roebear	Read Replies (1) of 50167

GZ, Just a bit of explanation of those funnymentals. Feel free to shoot holes I like hearing opposite opinions. The damage done to the supply of US/Canada oil and gas wells was real. This may have been MO of OPEC in oversupply anyway, to knock out the marginal producers. Hence the US and others more dependent on OPEC supply. The wells are not like spigots that can be turned on and off, once plugged they are usually done for good. Here is an excerpt from a RIG thread post that touches on this aspect (one of many) of the FA argument for higher oil prices this year: "Field depletion and production shut-ins did not wait for news of OPEC's compliance or non-compliance with their most-recently announced cuts, they happened as a matter of fact. For the most part, they cannot be undone. For the time being, OPEC / NOPEC adherence to >75% of pledged reductions -- a fairly sober estimate -- should be adequate to keep a seventeen dollar floor under WTI, blips excluded, and Brent at that price by this summer seems not unlikely." Best Regards, Roebear

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