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


To: mishedlo who wrote (31496)5/1/2005 9:51:00 AM
From: Jim Willie CB  Read Replies (3) | Respond to of 110194
 
anyone who thinks Saudis control oil price is delusional

so many oil production centers worldwide
so many threats to stable oil supply

Russia with its govt treachery, disrupted investments, discouraged foreign partners
down 5-10%

Venezuela with its marxism, appointmnet of non-oil people to positions of power, and general incompetence
down 15-20%

Iraq with its regular and systematic pipeline explosions, disruption of flow, call it insurgency, call it anything
down or flat

Saudi with its pumping as much water as oil, mixing more and more sour crude, but managing so far to slip in under the allowed contaminant levels
flat or down but plenty of empty promises

Norway with its labor demands and general depletion
down 5-10%

Nigeria with its roving gangs of thugs, taking over certain platforms, demanding more local take
down 5-10%

Mexico with its longstanding corruption, bribes to unions, and general depletion
down 10% or more

Gulf of Mexico with its gradual move to deep waters and lower output
down or flat

Alaska with its ne'er do well wells, general depletion
down 10% or more

Saudi controls what some believe to be spare capacity
it is the equivalent of a garbage dump

/ jim