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

To: BigBull who wrote (61927)	3/10/2000 1:45:00 PM
From: cherrypitter	Read Replies (2) \| Respond to of 95453

All: Did any one else catch the House Commerce Sub commitee (energy) hearing on C-Span last night? They were grilling the Administration's top Energy Policy people. Some fallout: 1)They (Clinton Administration) have already penciled in a 1 mill. bbls./ day crude producton increase at the 27 March meeting of OPEC producers. 2)The commitee was concerned with what Bill Richardson may be promising oil prod. countries in return for higher producton. 3)The United Nations accord with Iraq is up for review on 1 May. Since Iraq is a 2.5 mill/day producer, (their figures)concern was expressed that any 1 mill /day OPEC increase would be over shadowed if Iraq thumbs there nose at the U.N. which he is prone to do. 4) The admin. policy guy as much as admmited that the admin. was caught flat footed last fall by the drop in crude storage. He said " We thought they would cheat on the reduced quota" LOL The poster on this Board I believe was "right on" that expressed the view that Kwait and the Saudis may be trying to embarrass the Clinton- Gore Admin. and work for the election of George Jr. as payback for Pres. Bush's role in the Gulf war. Should be an interesting next few months. Good investing Rich