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

To: Warpfactor who wrote (53616)	10/27/1999 3:21:00 AM
From: BoNg-N-BoNg	Respond to of 95453

>>>Why are you picking on Oil producers as being greedy<<< 1st of all, short term greed lies at the future contracts..there must be something wrong w/ the crude contract.. I don't personally agree that the oil should be at the current level or higher level... no matter what we think of supply and demand and the API report or DOE, I very much think that there's more supplies out there than demand.. this equate to lower prices no matter how much OPEC and their cohorts cut their daily output but NO, instead this speculator from the "future contract" are artificially INFLATING the contracts higher giving any reason of possible winter shortages, cold winter, Y2k, etc., to justify their reasoning... anyway, why would OPEC not willing to increase production today if there's a shortage lingering in the near future?? because they don't believe it either.. they felt that there's alot of supplies out and do not trust the oil figures and any preemptive increase might create inbalance of supplies again which will cause another slow sliding of crude price.. so they're sticking w/ their cuts possible extending it beyond march next year and at the mean time enjoying the current price level..so many thinks that $22, 23, 25+ is a justifiable crude price while in reality while in reality it should be lower... also, this OPEC countries like to talk w/ their previous "losses" but they never mention their profits for the last 30 yrs!! just remember the oil embargos of the 70's... btw, comparing it to cola producers or pharmaceutical? sorry can't compare it cause oil is a biblical proportions compare to those two or others... countries go to war because of "oil" but not w/ cola or drugs... btw, I'm not short on oil or OSX stocks.. OSX and oil will have a divergence soon.. OSX will go up as the osx budgetary increase for next year even if oil contract goes down to 17-18 a barrel... what matters w/ OSX is their future earnings...