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To: Mark Fowler who wrote (7384)	6/3/2001 4:54:27 PM
From: craig crawford	Read Replies (2) \| Respond to of 57684

all of saudi arabia's production. if each chinese used just 1 quart of oil per week all of saudi arabia's production would have to go to china and there would be none left for us. >> Right and that's why Opec will keep Prices at optimum they don't want to encourage us to produce more << it is obvious that we are going to be producing more anyway. opec wants to get as high a price they can without hurting our consumption. they realize they only have so much oil and it's not going to last forever. i think the reason oil prices have been reasonable for so many years is because countries like saudi arabia have racked up some huge debts and they are greedy and spend money like crazy. now they have to pump oil like crazy to dig themselves out of debt. they did make the mistake of thinking they could sell oil for $100/bbl for years on end and when oil plunged to $7/bbl they got burned. they are not going to make the same mistakes again. >> Btw, the chinese are developing there own Oil fields << china doesn't have that many natural resources. and they have almost 5 times as many people as us. they are going to be dependant on outside sources of oil.