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

To: chowder who wrote (62813)	3/24/2000 8:48:00 AM
From: RBlatch	Read Replies (1) \| Respond to of 95453

If I, as a citizen of the United States, can see and feel the arrogance and stupidity (i.e., see Congress) of the USA's position on oil, don't you think OPEC does also?. I really don't think we want to get into a wizzing contest with OPEC about supplying oil. Sure, we could just conquer them, but that ain't going to happen. Sure, we can cut off their "aid" and weapon sales, but I bet France would love to sell them weapons, Russia too! And if they raise the price of oil enough, they won't, and probably don't right now, need our "aid" (read bribe money). But if I were them, I would still keep taking it as long as the USA was willing enough and stupid enough to give it. Are these politicians really that stupid to think we "rescued" the middle east because of Iraq's invasion? We "rescued" the middle east because WE NEED OIL! And Sadam was left in power to counter balance Iran. I would not be surprised to see an announcement that "oil production will be raised sometime in the future to accommodate world demand and to maintain a proper trading range for the price of crude. We will review the supply equation quarterly to achieve these desired results." In other words, no increase right now. They've just watched the price drop $5.00'barrel with nothing more than talk being done. Don't you think their scared a production increase will put it back in the teens? I don't see OPEC paying any attention to Clinton's boys. My prediction is zero increase. Outside 1.5 million barrel increase which would do nothing more than take their compliance percentages from 65% back up into the 90% range while realistically adding no more oil to the market. Cordially, RBlatch