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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (83450)	9/10/2000 1:33:30 AM
From: GuyNixon	Read Replies (1) \| Respond to of 132070

MB, What's your view on oil? I remember you were one of the few bulls on oil about 18 months ago. People seem to think that oil is trading above 33 because OPEC isn't producing enough. Yamani, the once powerful OPEC cheif, now thinks oil will go lower next yr. I am sure if what he said was just a political gesture, or because oil will indeed come down next yr. due to recession or higher production. However, I have also read that OPEC only has about 2% extra capacity even if it wants to increase production. Non-OPEC producers have declining reserve. If even oil demand merely continiue its 2-3% average annual growth, we could have still higher oil prices. Very confusing issue indeed.