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To: Lucretius who wrote (39049)	4/26/1998 7:15:00 PM
From: Fangorn	Read Replies (1) \| Respond to of 176388

LT, Being in the oil busines is beside the point. I guess you think only people with experience "in the business" can have an informed view. On that you are obviously wrong. Your response had nothing in the way of reasoned response in it. It consisted of an attempt to shift the focus and a bald opinion. Oil prices may go higher but it won't be because OPEC cuts it's production in any significant way. If OPEC cuts 10% of their 40% that is only 4% of the total. Even that cut for more than a few months would push the Saudis to the brink. Then with Saudi Arabia in chaos oil prices would definitely rise. The Saudi royals aren't going to let that happen, hence OPEC is making noise but can't do anything real. It would be suicide and not just for the House of Saud. There is currently plenty of oil to feed the worlds appetite and if the price goes up a little even more will come on line. Any body heard of Central Asia or China?

To: Lucretius who wrote (39049)	4/26/1998 11:09:00 PM
From: Jack T. Pearson	Respond to of 176388

<<OFF TOPIC>> Lucretius Taurus, IMHO, oil prices dropped because supply was increasing when the bottom fell out in Southeast Asia and cut demand. Some oil countries agreed to cut production to get supply back in line with reduced demand (by the way, it wasn't OPEC). Spot prices jumped immediately on the news. I don't think the cut in supply will last more than a few months. This is a case where the countries that sacrifice income by cutting production enrich the countries that don't cut production, or that say they are, but cheat. This has happened before. IMHO, production cut will be more hype than fact in three months. Of course, this is only my opinion. Jack