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

To: Fredman who wrote (35896)	1/27/1999 12:28:00 AM
From: The Ox	Read Replies (3) \| Respond to of 95453

I'm not a huge fan of conspiracy theories but I do lean toward the concept that the Saudi's(and their partners) aren't in any real hurry to see oil prices rise. Regardless of the rhetoric we read in the news, I can't help but think that behind closed doors they are very happy seeing higher cost producers shutting down their wells, reducing exploration and putting off new projects. They have to be able to weather the bumps now but as demand grows in a few months, or even if it's a few years, they will be able to garner a larger percentage of the world's market. I think they are intent on keeping the pressure on the rest of the world's higher cost producers. At the same time, the US continues to keep the foreign oil flowing into the country, regardless of the price. BWDIK, Michael