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

To: The Ox who wrote (60122)	2/10/2000 8:20:00 PM
From: upanddown	Read Replies (1) \| Respond to of 95453

Futures imply that oil will drop all year from this level. Understandable, Michael, since we are at unprecedented levels. I think it is also longs demanding a risk premium. I think we touch 30 and then start a slow decline with 2000 averaging above 25. A sense of price stability would be the best thing for this sector but I do think that the Saudis and the rest of OPEC are trying to tell the West that the $20 oil that was acceptable to them years ago is no longer enough. $20 oil in 1990 is $14 oil now. I don't know about the weak sisters demanding higher quotas. Squabbling over quotas has been disastrous is the past. Everybody is doing a lot better than a year ago. The only allocation of a small increase that makes sense to me would be a equal percentage increase for all. JMO. John