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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: Ian@SI who wrote (7410)	8/3/1999 11:44:00 AM
From: Boca_PETE	Respond to of 15132

Ian: RE:<to conclusively prove or disprove an oil pricing conspiracy> Believe or disbelieve what you want, but oil prices are a matter of supply and demand. Last March, OPEC's agreed production cuts changed market psychology and crude prices shot up like a rocket from lows on an inflation adjusted basis not seen since the 1930's. Do you think Coca Cola could stay in business very long today selling Coke for 5 cents a bottle ? The production cuts have begun to reduce excess inventories. So have gradully improving economic conditions in the depressed PacRim countries. However refinery overcapacity continues with countries adding noneconomic capacity for reasons other than profit (ie. self sufficiency, national security, trade balance objectives). P