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Gold/Mining/Energy : Canadian Oil & Gas Companies -- Ignore unavailable to you. Want to Upgrade?

To: Doug who wrote (5627)	12/1/1998 8:55:00 PM
From: Yarek Szolomicki	Read Replies (3) \| Respond to of 24925

Doug/Saudis Is it $5 total cost ie netback or just production? I am looking for some clues as to long term vs short term benefits of flooding the market with oil for the Saudis. Venezuela has devalued it's currency couple of months ago and they seem to be doing ok, getting more dollars for their oil. I dare to suggest that they could handle another shock but for how long I have no idea. They don't care what the Saudis tell them Venezuelans are expanding in terms of US market share and upstream refineries etc. I don't know but Venezuelans maybe daring enough to go into a fight with Saudis becuase they know that Saudi political situation is getting quite volatile. In fact I would suggest that Saudis have more to lose @$8.00/barrel. State revenues would dry up and we would get political unrest. that's why in this situation it all comes down to timing.