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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (123707)	9/11/2000 4:02:28 PM
From: Jim McMannis	Read Replies (3) \| Respond to of 1570103

Ted, RE:"I don't agree....already several nations have been selling above their quotas...they want high prices but they need $$$, lots of it. Only two OPEC nations have a relatively small population in proportion to their oil reserves: S. Arabia and Iraq. And Iraq needs the oil $$$ desperately. Only the Saudis have whiggle room and they are smart enough to know that if the price of crude is pushed up too high, the world may tip into recession big time. So they are increasing production again. I think why we are not deriving benefits from the increased production in the form of lower crude prices is because demand in Asia/Japan is increasing as they recover from their respective recessions." You sound as if these countries are mired in poverty. Nothing could be further from the truth. Last May they said they were cuttting production to lower crude prices. How low did the lower prices last? Truth is that they are still at or near the highs. As far as cheating...there has always been cheating. Maybe they don't want world recession, heck, this is part of Clintons pathetic "begg 'em" rhetoric. OTOH...they are all for the high crude prices they are getting. Who wouldn't be...? Jim