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Strategies & Market Trends : Currencies and the Global Capital Markets -- Ignore unavailable to you. Want to Upgrade?

To: Archie Meeties who wrote (2528)	8/28/2000 12:45:07 PM
From: Stephen O	Read Replies (1) \| Respond to of 3536

When will OPEC decide to settle oil purchases with GOLD?

To: Archie Meeties who wrote (2528)	8/28/2000 4:29:05 PM
From: Hawkmoon	Read Replies (1) \| Respond to of 3536

I do find it interesting that they aren't in any rush to get oil prices in the low $20's, as Mr. Clinton recently advised them to. If they wished, they could have done so long ago. It really doesn't surprise me too much. The oil producing nations are facing a huge glut of oil coming onto the market within 5-10 years which may keep oil prices quite low down the road. We have huge finds in Kazahkistan, Turkmenistan and all the other "stans", who are currently trying to develop and ship their product to the west. Sheikh Yamani, the Saudi oil minister during the '70's stated as much. So I think the attitude is get it while the getting is good. We have a strong US economy that seems to be able to absorb higher fuel prices. And on the other hand, we have a VERY limited refining capacity due to governmental incompetence and intolerance on the EPA, and any other groups who like to use rhetoric such "in the pockets of Big Oil", ... etc (like Big Al Gore arranging for the sale of a plot of Federal land to Occidental for $3.5 billion). But the bottom line is that the Dollar is far more stable than the uncertainty that has surrounding the European confederation since its inception. Europe has a lot to prove to the rest of the world in terms of their unity of purpose and indentity. A currency reflects all aspects of a society/nation that it represents. The US is unified in a Federal Republic, whereas Europe is nothing more than a group of confederate states speaking different lanquages, who bear the burden of a long history of invading and killing one another. Regards, Ron