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

To: Richard D who wrote (26433)	7/24/1998 4:51:00 PM
From: Broken_Clock	Read Replies (2) \| Respond to of 95453

well said but here's the problem.... the low cost producers like Nigeria, Venz., Indonesia, Russia NEED $ to avoid home town calamity. It would appear that the Venezuelans have suckered the squad by accusing Iran of cheating(which was true!) and then cheating themselves so as to gain market share. The end users in Europe and the USA just sit back and laugh, make a call to Bill(he says, "Sure boys, use federal storage facilities and yes, I'll be a director for Exxon after I retire.") and fill up on cheap oil which is sold to us at near the same price as when they were buying for $20 barrel. As tension increases in the producers hometowns, they are even more willing to play the game. It will probably take either a war or revolution to change the scenario near term(6 months). One thing you can bet on, when oil does go up, so will the price at the pump.