To: SofaSpud who wrote (179 ) 1/19/2000 5:03:00 AM From: Archie Meeties Read Replies (1) | Respond to
Here's my 0500 contribution to this thread (since it's apparent nobody here understands the price of oil).appear like its jawboning oil down, by having the energy man say "we will get oil back down", thus setting up the question "How?". At this point the energy man reassures the futures traders that we won't tap into the strategic reserves except in an emergency, and then, when it's apparent they don't want to do anything about the price of oil, it really takes off. Then the Saudi's start jawboning the price of oil UP by saying they'll never again increase production - not now, not in March, not in September, not ever. They get the Venezuelans, who are sincerely hard up for cash, to do the same. But this pretty much means that they're letting Venz pump more, because, in fact, Greenspan says "I only want enough inflation to raise interest rates the next few months, and to scare the bejeezus out of the Europeans (who import almost 100% of their energy)."
