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To: orkrious who wrote (14979)9/24/2000 8:29:20 AM
From: Steve Lee  Respond to of 60323
 
Seen what Iraq has been doing? 30% of the world's oil production has been offline for a decade. Iraq has decided to bring its oil online, whether the US approves or not. I don't see the US or Britain shooting down French or Russian "civilian" planes full of oil engineers. I don't see them striking Jordan or Russia for accepting oil exports. There is not much we can do about Iraq reentering the world economy, and their oil supply can solve our current problems. The other OPEC nations would prefer to keep Iraq out of the game. They cannot achieve this by increasing oil prices.



To: orkrious who wrote (14979)9/24/2000 12:13:39 PM
From: The Prophet  Respond to of 60323
 
Jay, it's all about speculating - it's not about supplies. This is a "market" - i.e., people place bets on the future direction of prices. The fear that supply will arrive shortly in the future is enough to drive prices down now.