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

To: Crimson Ghost who wrote (36331)	1/31/1999 10:53:00 PM
From: Pete Young	Respond to of 95453

! I would add that our rulers are well aware that excessively low oil prices threatens the peace of the world if long maintained and will (covertly, of course) support OPEC efforts to hike prices modestly. After all $15-$18 oil still is incredibly cheap and would not derail the current economic expansion to any significant degree. Even $30 probably would be no more than the historical average in real terms. And our leaders have been doing this for some time. Consider the effects on Saudi Arabia, the American support in the Gulf, of sustained low oil prices? They have already experienced difficulties with the fundementalist opposition. (That's an old history, as Ibn Saud took Saudi Arabia, from a rival family the Al-Rashid between 1913-14 with the help of the Ikhwan (the Brotherhood, a group of intensely religious warriors)) The Saudis have a problem with unemployment amongst the young, correct? Anyway, our leadership has had a long history of supporting oil prices for reasons domestic (Texas) and foreign. Look at the possible Repub. hopefuls on the horizon...well, now, lookie there, two in the Bush. :) Pete