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Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: DMaA who wrote (1727)	1/29/1998 12:16:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 9980

David: Good point, it will be certainly bad for Asia in general.I know China now produces a lot of oil and gas but not yet self sufficient,and India produces only some 30% or so oil/gas it needs and spends some 2 billion per month to import crude.The smaller countries may feel the pinch harder as they have to rely on a lot more on imported oil than India and China. Having said that I must say China and India will come out of it ok,I can't say the same for the rest considering the present predicament.They can always try 'barter' like India used to when they were buddies with Commies in the old Soviet Union. Also I think the price increase if any due to a possible war between Iran and Iraq,could a mild one as the OPEC nations are very anxious to overproduce to meet their domestic fiscal needs,I hear nobody sticks to their quota these days anyway. The last I heard Saudi Arabia is even running a Current Account deficit,go figure.Also when the price goes up so do production in general and new explorations.