Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: John Hunt who wrote (23305)	11/23/1998 6:10:00 AM
From: John Hunt	Read Replies (1) \| Respond to of 116979

Oil crisis shakes Gulf economies, pushes reform biz.yahoo.com << Cautious Saudi Arabia, once awash with petrodollars, has made a rare appeal for more foreign investment in its jealously guarded energy sector. Iran, another giant Gulf oil producer, is negotiating with creditors for $3 billion in loans to stave off debt default. The slump in world crude prices is piling the pressure on the oil-driven Gulf, forcing conservative governments to rein in spending and open up traditionally closed economies. ''I see a slow motion crisis going on in this part of the world that won't end until real reforms are in place,'' Gulf policy expert Gary Sick said in London last week. This year's plunge in crude prices to 20-year lows on average, close to $11 a barrel, has rattled Gulf producers who depend on oil exports for three-quarters of their revenues. ''If these low oil prices continue, it's going to test the proposition that the Persian Gulf states are immune to the economic laws of gravity,'' Sick said. ........ >>