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

To: Lazlo Pierce who wrote (24122)	6/15/1998 1:03:00 PM
From: Broken_Clock	Read Replies (1) \| Respond to of 95453

I noticed a post about 50 or so back re the Iranians calling for "cuts". This from the largest cheater on the last cuts. P erhaps they should just try sticking to the original agreement! My scenario is as follows: it is doubtful that any "cuts" will stabilize the market. OPEC and or others must simply turn the taps off for 2-3 weeks. I don't see this happening as their economies are entering crisis stage with these oil prices. They need money or risk internal political/financial collapse. Iraq is a prime example. For all his blustering, Saddam is apparently now complying with the UN inspectors. His country is getting hammered financially speaking. He will do anything to get some $ and stay afloat...even at $12 oil. I don't see OPEC turning off the taps so it will probably happen thru a war or similar crisis, precipitated by the low oil prices.