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To: RBlatch who wrote (62817)	3/25/2000 11:46:00 AM
From: chowder	Respond to of 95453

Hi RBlatch! I enjoyed your commentary regarding what OPEC should do in this up-coming meeting. Strange as it may sound, I happen to agree with you and I am on record as having said so. messages.yahoo.com >> A Little Devil's Advocate... by: dabum_jv2 (49/M/Columbia,SC) 2/29/00 7:04 am Msg: 7017 of 7375 I suppose this is as good a time as any to discuss OPEC increasing production. Secretary of Energy, Bill Richardson has made the rounds, hat in hand, begging OPEC members to increase production. General consensus is that OPEC will probably oblige with a million, maybe million and a half barrel increase in production. If I may play devil's advocate for a moment, here's what I would do if I were OPEC. OPEC countries are still devastated, financially, from the recent drop in the price of oil. Since most of the OPEC countries still have huge debts to pay off, it may not be in "their" best interest to increase production at this time. If I were OPEC, I'd much rather have $28-30 oil as opposed to $24-25 oil where the US wishes it to be. (Notice how $30 oil made $25 oil preferable, it used to be $20 everyone was talking about.) If I were OPEC, I'd refuse to increase production for at least three more months. If oil then goes to $35-40 per barrel it would make $30 oil very attractive. Although $35-40 oil may not be in the best interest of the world, (inflationary you see), a short term of three months wouldn't be devastating, in my opinion. Yes sir, $35-40 oil should do the trick. It's fun being a devil sometimes. dabum -------------------------------------------------------------------------------- RB, don't you just wish OPEC had the courage to do what we think they should do? Ha! $2 gas and long lines ..... bring it on! Thanks again for your thoughtful commentary. dabum