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

To: isopatch who wrote (71567)	8/24/2000 9:48:12 AM
From: Tomas	Read Replies (1) \| Respond to of 95453

Analysts warned that there may be little the OPEC cartel can do, even if it wanted to help. "You have to understand their infrastructure only allows the production of so much oil," pointed out Jordan Horoschak, an oil analyst at S&P Equity Group. "They have a lot of oil in reserve. But there is only so much they can put out on a day-by-day basis. We're beginning to reach that ceiling." OPEC simply does not have that much extra capacity to put on line, he said. Mr. Horoschak also suggested the oil crunch is an American-made phenomenon. Oil supplies are tumbling and prices are soaring because the red-hot U.S. economy is "burning through this oil at a very rapid rate," he said. From today's Globe & Mail