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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Jeffrey Beckman who wrote (10572)	2/4/1998 3:41:00 PM
From: Chuzzlewit	Read Replies (2) \| Respond to of 95453

Thread, in case anybody's interested, VRC will report earnings on Feb 12 after the market closes. PS, all this tech talk is getting quite tiresome. Look at how negative the indicators were on this thread a coouple of days ago and compare them to today. So much for TA's predictive power. Everybody's a genius in hindsight. The major issues driving these stocks right now is the possibility of military action against Saddam. Cohen talked tough (as reported on the NY Times) and the price of oil increased. If Yeltsin backs down from his bombast (implying a military threat against the US in case of an attack on Iraq) we will again see the OEX up. France and Russia don't want military action against Saddam because Iraq owes them considerable amounts of money for past arms purchases. That's why these countries are constantly trying to establish detente with Iraq. According to the NY Times, Kuwait favors military action against Saddam, but only if it is decisive. Kuwait still views Iraq as a major menace in the region. Gingrich echoed those sentiments in today's NT Times. Inreasing the rate of pumping that Iraq is currently allowed won't have much effect on world oil prices because there is a lot more pumping (through the black market) then is generally acknowledged. Some major questions to the thread: What effect the recent Iranian overtures to the US will have on world oil markets in the near term? Secondly, will easing of tensions with Iran make a strike against Iraq more likely? Regards, Paul