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.

Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (150624)	8/28/2002 7:54:37 PM
From: tejek	Read Replies (2) \| Respond to of 1585199

There would be a substantive dislocation in our economy if we lost 10% of our oil..........we would go into recession easily. What do you think a loss of ten % of their business would do to Saudi Arabia? If Saudi wanted to cut oil production 10% it would probably be made up for by other countries. If they wanted to cut enough so that we would lose 10% of our oil they would probably have to stop exporting any oil. Tim, OPEC rules and the Saudis rule OPEC. I have forgotten how much oil production OPEC covers but the percentage is high. And world oil supplies are fairly tight; to whit, crude is near $30 per barrel and there's a global recession. So why do you think they would have to stop exporting? If the Saudis took our ten percent and ate it, how much do you think they would suffer? If the Saudis took our ten percent and sold it to someone else and in the process, reduced the price of crude to $20 per barrrel [due to a 10% surplus], how much do you think they would suffer? ted