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To: Crimson Ghost who wrote (36468)	2/1/1999 5:32:00 PM
From: gregor	Read Replies (1) \| Respond to of 95453

I agree that we need to stay in the low 12 range for a few weeks or more near term a healthy bounce below 12. When is the OPEC meeting coming.? We have had some healthy news from Venezuela, but it's hard to figure out the Saudi's. At a production cost of 1.00 a barrel I guess they can do whatever they want, but I hope their aim was to punish the other transgresors for past sins. Either way it appears to belie western logic. Lets say they wanted to crimp worldwide exploration for a few years by flooding the market and making oil so plentiful that they could hope to sustain a rise in oil once it takes place. By so doing they can top off their strategy by announcing and sticking to a 1 million per diem production cut at the next meeting. Apparently they have a benchmark price in mind and if so oil would rapidly rise to that benchmark and fluctuate around that level for a few years. In my own mind I would place that level around 15.00 in the current market environment. ( That is to say at what level could a rise in oil be sustained for a few years. )BWDIK

To: Crimson Ghost who wrote (36468)	2/1/1999 5:35:00 PM
From: Mike from La.	Read Replies (2) \| Respond to of 95453

Incredible, That long winded note I wrote about Chavez, OPEC, etc, wound up being published as a NEWS ITEM in a Venezuelan news service. They put it under a headline reading: International support for Chavez Frias will rise, mainly because of his ability to thumb his nose at the US Mon, 1 Feb 1999 00:28:23 -0400 Then they published the whole thing, with only some very minor editorial changes, like stating his name as Chavez Frias, instead of just Chavez. Weird! Be careful what you write, you don't know who will be reading it. Mike from La. Whoops, I mean John from New Mexico