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

To: Broken_Clock who wrote (12563)	2/23/1998 11:50:00 AM
From: SJS	Read Replies (1) \| Respond to of 95453

Exactly what I've been saying. The price of oil is dropping and we're sending them a message. The more they sell, the more they lose UNLESS they get the price back up. We're feeding that 10% production increase right back them via a 25% (and dropping) price cut. I never thought I'd say this, but Oils a lot more elastic that it ever used to be. I'd rather sell 10% less, and get 25% more for it anyday. I think they'll eventually (maybe even soon) get to that conclusion and lower those friggin' quotes again to their previous levels.