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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: excardog who wrote (6580)	2/9/2002 7:49:20 PM
From: Rob Shilling	Respond to of 206184

Hi excardog, Well, I am not sure what to think about Venezuela. Chavez is very committed to OPEC production cuts. He views oil prices around $25 as "fair" and not "high". So, he really is not much of a friend to the U.S. I just don't see Chavez cheating on OPEC quotas, because he views OPEC as protection from western abuse. In a way, I kind of see his point. If the west had its way, the west would always see an extra barrel of oil somewhere and declare that there is a "glut" (using the IEA or DOE to make it more official). This would keep oil prices perpetually low. The talk of instability in Venezuela could just be hype generated by the U.S. Fitch downgrading the debt may be an attempt to hasten any collapse. I would imagine the U.S. wouldn't mind seeing Chavez leave power. I think we are close to seeing higher oil prices, so maybe Chavez will get a break in the near future.