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To: Enigma who wrote (53431)	5/31/2000 11:11:00 AM
From: TheBusDriver	Read Replies (2) \| Respond to of 116778

<<"The oil producers are not privately owned public corporations - they are sovereign states who belong to a cartel " >> no only that, and this might be a bit simplistic, but as I understand it the bullion banks kinda forced the gold producers to hedge gold in order to guarantee profits to get $$ loans for exploration? wayne

To: Enigma who wrote (53431)	5/31/2000 11:20:00 AM
From: Ken Benes	Read Replies (2) \| Respond to of 116778

Whether they are owned by states or are privately/publicly held is irrelevant, what is important is, that they adjust production to market conditions. This is not unique to state run operations. Manufacturers of widgets will slow the assembly line if the market is flooded with product and the price commanded for a widget drops. It is so fundamental, they teach this principal in introductory economic classes. It is amazing that the producers and their fan clubs cannot master this principal. I guess that is why you experienced the name change from double density to enigma. It was a transformation from incomprehension to confusion. Ken

To: Enigma who wrote (53431)	5/31/2000 11:59:00 AM
From: William JH	Read Replies (1) \| Respond to of 116778

Enigma - Last year, when oil and gas prices were very low, every, I mean every, producer cut back on their exploration, drilling, and capital budgets. Some delayed hooking up wells until prices improved. For this reason, most E & P's are producing less today than one year ago. Don't take my word for it, check it out for yourself.