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

To: Ron Bower who wrote (6246)	3/8/1999 2:45:00 PM
From: chalu2	Respond to of 78476

I don't deny that OPEC can still influence prices, but they are a paper tiger now compared to their strength 25 years ago. Had they been able to control prices, we never would have seen the absolute plummeting of prices over the past year or so. Unfortunately for OPEC, many cash hungry OPEC nations do not adhere to the organization's guidelines, and many nations now produce oil who will not be dictated to by OPEC. The cartel has often been metaphorically referred to as a "sick man." I doubt that it will ever return to its former state of "health." Be well.