Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Crimson Ghost who wrote (59677)	2/3/2000 4:00:00 PM
From: Think4Yourself	Read Replies (3) \| Respond to of 95453

George, you have a great argument but I tend to disagree a bit. I believe the US wants stability in the mid east as a top priority. The mid east governments were REELING last year from low oil prices. As such, I don't believe that the US will REALLY push that hard. The politicians will just talk up a big story. After winter is over it's another story altogether. Regardless, I agree with your comment that oil will not break below $20 (for more than a few days) anytime this year.

To: Crimson Ghost who wrote (59677)	2/3/2000 4:46:00 PM
From: upanddown	Read Replies (1) \| Respond to of 95453

George, you have frequently talked about the ME oil producers being puppet-states of the US as if it were a given fact. Got any evidence of this other than your opinions? I have to heartily disagree. Where is our leverage with them? They don't have to worry about military security. If Saddam talks one step over his borders, we squash him like a bug. We know it, Saddam knows it, the Saudis and the Kuwaitis know it. Where is their leverage with us? OIL...10MMBD....$250M a day. Within a couple of years, we will probably have to import 75% of our needs. Where are we gonna get it? They don't have to suck up to us. They are holding all the aces. JMO. John

To: Crimson Ghost who wrote (59677)	2/3/2000 9:03:00 PM
From: Tommaso	Read Replies (1) \| Respond to of 95453

Wasn't it the Kuwaiti oil minister who said recently, "What price rise? it seems normal." Or words to that effect. It may be that the experience of $10 (or close to that) oil last year has made OPEC more keenly aware of the need to hang together, at least for a year or two. They are all about 300% better off now than a year ago, the production costs staying the same and profits rising enormously. But my views are skewed by the fact that income from my holdings in oil royalty trusts (all USA internal) rise and fall exactly with OPEC.