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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: stockman_scott who wrote (49284)	4/2/2002 9:04:57 AM
From: Jim Willie CB	Read Replies (2) \| Respond to of 65232

expect Arabs to "TRY" to use oil as weapon, like 1973 much harder now that OPEC has only 38-40% world mktshare back in 1973 they had about 70-75% mktshare Russia is now lurking with increased production they have four centers of oil production, not centrally planned more and more like a free market every month Russia is our "SUPPOSED" ace but Saudi still has the ultimate upper hand I read their cost per barrel is about $2.50 Russia's cost is about $10-12 US cost is about $12-14 Canada's cost is about $9-14 Saudi wins a price war a little history: in 1997, Venezuela defied Saudi orders and upped production Saudi's response was to use all available excess supply by 1998, the crude oil price had fallen to $8 Venezuela found itself soon producing at a loss, and later fell into line nobody beats Saudi in a price war so Saudi rules the oil market Russia has not learned that lesson yet, but they will they are still young in the free market game I not only expect Arabs to use the OIL WEAPON, I AM COUNTING ON IT I SPOKE AND WROTE ABOUT THIS IN NOVEMBER AND SOME OF YOU GUYS THOUGHT I WAS CLUELESS back when bombs were dropping on Afghany, I figured the attacks on Islamics would incite activity among all Arabs, and their easy target would be Israel this is the link that Washington does not understand if we attack Islamics, Arabs attack Israel war cannot be contained, since it is chaos in November, my stock positions were directed into oil/gas a huge premium in North American oil/gas stocks is coming / JW