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To: Charles A. King who wrote (10242)	12/1/1998 12:30:00 PM
From: Charles A. King	Respond to of 13091

In two months, the price of crude oil has dropped an amazing $4.40 a barrel. oilworld.com OPEC met recently and adjourned without deciding to make any further cuts. Once again, members who know pumping must be cut further decided not to agree, reasoning that cheaters like Venezuela must adhere to their own agreed quotas before any further agreements can be made. Iraq has been able to gradually increase production a bit, while other countries like Nigeria are hopelessly corrupt and have traditionally cheated on their quotas. Iran disputes the quota placed on it. Some OPEC members complain that Saudi Arabia grabbed market share during the Gulf War and never gave it back. At the time, we oil consumers were very glad Saudi Arabia was able to pump more oil. Noesis says the price softness is caused by the refiners reducing their inventories ahead of the end of the year. It will be interesting to see what happens after the start of the new year as the northern hemisphere has a chance to let winter burn off some oil inventory. So far, the weather here has been warmer than usual. Charles

To: Charles A. King who wrote (10242)	12/1/1998 12:53:00 PM
From: Charles A. King	Read Replies (1) \| Respond to of 13091

Previously, I posted about how the Red Chinese move to do something when they choose to do it, even in spite of what must be powerful opposition. In this country, the President would appoint a Blue Ribbon Commission to do Fact Finding and come back with a Report. Anybody still remember the Hoover Commission? The Report is then quietly filed away where all the other Reports have gone. Right now in China, if the powers that be are worried about something, they start work to do something about the problem and take it to completion, not do lip service and hope the public forgets about it. Obviously, for generations the US IRS ran rough shod over the American public because Congress in its wisdom chose to write the law that the taxpayer was guilty until he proved himself innocent. The idea that Congress takes care of little constituents was nothing but a romantic myth pushed by the news media which ignored the suicides of taxpayers pushed beyond the brink of endurance. Over the years, it has been shown repeatedly by the news media how the FBI has run rough shod over segments of the public. I wonder whether the media will ever get to addressing what the SEC does to little companies? Charles