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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Ron Bower who wrote (6223)	3/6/1999 1:31:00 PM
From: chalu2	Read Replies (1) \| Respond to of 78470

I don't agree Ron that oil is "price controlled by a small group of Arab countries." That was true in 1974 (not 1979). Now, no one controls oil prices, they have been in free fall for a while now, and substantial producers have come to the fore who are not central members of OPEC--i.e., Venezuela, Nigeria, Kazakhstan. Today, thank goodness, oil prices are "controlled" by supply and demand, and there is oversupply in relation to the demand. Prices now are barely above production costs. Indeed, many believe that the current robust economy has in large measure been fueled by "cheap oil."