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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: BubbaFred who wrote (29603)	3/19/2003 8:54:01 AM
From: Art Bechhoefer	Respond to of 36161

BubbaFred--I can only assume that HAL would be in the inside track for lucrative contracts, no matter how much or how little damage occurs to Iraqi oil installations. Remember that with the U.S. calling the shots, there will be an incentive to increase Iraqi production in order to limit the ability of the OPEC cartel to maintain high oil prices. My own estimate is that the U.S. will try to get oil prices down to about $18 to $20 for a couple of years at least, in order to spur the U.S. and world economies now in a slump. The Iraqi leaders unquestionably understand what is at stake. I would not be surprised if all the main oil installations have already been booby trapped with the idea of creating extreme disruptions to the U.S. economy, if nothing else. You can't the Iraqis just to surrender, but that doesn't mean a war is the only way to reach the desired objectives. Art