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

To: VLAD who wrote (27056)	8/5/1998 12:55:00 AM
From: Sunny Jim	Read Replies (2) \| Respond to of 95453

VLAD What would cause the increase in the price that you are looking for is just the opposite action from what helped cause the current mess. Didn't the Saudi's suggest that everyone increase production by 10% last November? If the Saudi's were to coax everyone to decrease production by 10% it would shrink the supply just as their suggestion to increase it by 10% helped cause this glut. The only problem is that producers were a lot more eager to increase output than they are to decrease it. The first one to do it loses the most. I don't know what psychologists call it, but as each one in the group looks out for their individual interests, they basically help drive the group's best interest into oblivion. As long as we have producing countries acting like kids, we're going to have some damn cheap oil for a long time to come. Just one opinion.