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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Crimson Ghost who wrote (28844)	3/18/2005 7:04:09 AM
From: Wyätt Gwyön	Respond to of 110194

But that was about 20 years ago. if the Fed is willing to jack short rates back to 18% and kill the economy, they can certainly have a "greater influence" than OPEC on oil prices. but that is purely hypothetical today (compared to back then). by the same token, you could say that OPEC could have a "greater influence" by cutting production by 3 mmbpd and causing prices to exceed $250. but these are not real-world alternatives for OPEC or Greenspan. imo, OPEC is losing its bidirectional ability to influence prices. they can always make them go up by cutting production. but now it appears they are severely limited in their ability to lower prices by raising production.