Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: patron_anejo_por_favor who wrote (50925)	4/12/2002 7:25:18 PM
From: DebtBomb	Respond to of 99280

LOL patron. But you know, this was a real slap in the face to Saddam. I think this is the second time he cut off oil, and it dropped, LOL.

To: patron_anejo_por_favor who wrote (50925)	4/12/2002 7:57:11 PM
From: DebtBomb	Respond to of 99280

Failure by Powell to strike a deal could drive the price of crude to $30 a barrel, some analysts suggest. It has risen to about $26 from $16 last fall, and reached $27 right after the Iraqi cutback. A $10 increase in oil prices costs the U.S. economy about $50 billion a year and slices about half a percentage point off the economy's growth rate, said Mark Zandi, chief economist at Economy.com, an economic consulting service based in West Chester, Pa. "In the grand scheme of things, it doesn't sound like a lot. But in the early stages of a recovery, that can be significant," Zandi said. If oil goes to $30 a barrel and stays there a few months, he said, "It would be an important risk to the recovery." "In 1973, OPEC countries felt the West had no alternative to their oil. And they were not too far off," said Ed Porter, an economist with the American Petroleum Institute. That clearly is the case no longer, he said. While he does not foresee an explosion in oil prices or a major interruption in supplies, "that obviously could change with a deterioration" in the Israeli-Palestinian standoff. "It all depends on the reaction of the producing countries," Porter said. story.news.yahoo.com