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Microcap & Penny Stocks : OILEX (OLEX) -- Ignore unavailable to you. Want to Upgrade?

To: Marty Rubin who wrote (4229)	8/26/1999 9:18:00 AM
From: Richard L. Williams	Read Replies (1) \| Respond to of 4276

In the Too bad Saul Yarmak was more interested in nabbing the debenture money and not in producing oil department, pt. 2: >>Why We Should Worry About Oil In February this year, oil prices were as low as $9 a barrel, but prices are now at more than $20 and rising fast. The BBC's Rodney Smith examines whether we are on the verge of a new oil price shock. More than 25 years ago, the oil producers who then made up the Organisation of Oil Exporting Countries (Opec), held the world to ransom and at great cost. Oil prices rose four-fold over three months in early 1974. Street fuel prices surged, as oil companies rushed to pass the cost on to consumers. Oil-fired power stations went on to short-time working, oil traders were reputed to be holding loaded tankers offshore in anticipation of further price rises, speculators would buy and sell real and imaginary oil cargoes still in mid-ocean as the adventurous and the unscrupulous cashed in on disaster. Coping with the shock As these crippling prices became established, large American car manufacturers, desperate to supplement their fleets of gas-guzzlers with smaller cheaper cars, rushed out some ridiculous models; like the cut in half Valiant from Chrysler, and American Motors relic from a 1950s sci-fi film set, the nightmarish AMC Pacer, a broad inverted soup bowl of a car now much prized by collectors with a sense of humour. It also brought about the death of the petrol engine in London's black cabs; cheaper diesels replaced them. Back street garages sprang up everywhere to perform swift engine transplants. Share impact World stock prices plummeted. The popular predecessor to London's Footsie 100 share index, the 30-Share Index, fell to laughable levels and blue chip shares could be had for beer money in today's terms. Stockbrokers could almost give away shares in stalwarts of the economy like ICI, which deal heavily in plastics, oil and energy. Could this happen again? Probably not. World oil prices are above $20 a barrel after spending much of last year and early this year well below that. They could go even higher, says Leo Drollus of the London energy think tank, the Centre for Global Energy Studies. He's looking for $25 or more. news.bbc.co.uk.