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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: William JH who wrote (50661)	9/18/1999 3:43:00 PM
From: William JH	Read Replies (3) \| Respond to of 95453

Every weekend I read the same stuff in the financial press - OPEC will cheat, if not now, surely in the future. (I wonder if they don't get tired of being thought of as totally untrustworthy). And, we are told over and over that they are worried about losing market share. But wait - is this really the case? The world can't get along without the oil from the major OPEC countries, regardless of what happens elsewhere. And how are they worse off selling 26mmbpd at $25, than selling 28mmbpd at $15, even if these numbers were to come to pass, which I doubt? Some of the analysts who are being quoted today are the same ones who earlier this year said that oil might, just maybe, possibly, make it to $15 sometime in 1999. Remember the new range of $12 - $15 that was talked about a lot? JMHO, but I see no reason to be swayed by any of this "noise" unless I see it happening. Until then, I'm sticking energy, as I have since Jan. Think depletion!