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Gold/Mining/Energy : Oil & Gas Price Economics -- Ignore unavailable to you. Want to Upgrade?

To: excardog who wrote (291)	9/23/2000 11:54:43 PM
From: Rod Copeland	Read Replies (1) \| Respond to of 350

Guess who is carrying a big stick now! It appears to me that Sadaam now finds himself with a weapon that can deal his Western foes a very hurtful blow. Since he doesn't care about his people, he is now in a position to drive the price of oil over $40. He must be contemplating the most opportune time to cut off Iraq's production. Even though his production is not a huge piece of the whole pie, it is very significant with supply being as tight as it has now become. I can see Clinton/Gore on their knees in front of him now... begging him to wait until the election is over. Sadaam could really make their decision to draw from the SPR look stupid. (which it was). I'm looking for oil to drop for a couple of weeks and then start climbing back to the mid 30's. Next Spring will tell us how much crude made its way over here. The SPR draw was pure politics with some psychological effect attached. Reality will awaken the market soon and Sadaam could be the alarm clock.

To: excardog who wrote (291)	9/24/2000 12:25:10 AM
From: rajaggs	Read Replies (1) \| Respond to of 350

30 days isn't much time for real benefit, unless Clinton/Gore are intending to recycle the same 30 million barrels. They will need that oil going into the heating oil refineries by middle of next month, or there may be shortages in an early cold snap. If it has to be fully replaced before March 2001 then there will be further increases in crude pricing, unless the winter is exceptionally mild. I see one forecaster saying that all the release of SPR will do price-wise, is to drop the price of crude by $1-$2/barrel. 'jaggs