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

To: Jacob Snyder who wrote (40990)	3/26/1999 2:23:00 PM
From: Crimson Ghost	Read Replies (2) \| Respond to of 95453

I like to see articles downplaying the inflationary impact of higher oil prices. Supports my contention that the US will not start pressuring OPEC to hike production until prices are near $20 per barrel. Interesting that this radical improvement in the oil price environment was triggered by promises of a tiny 2.7% cut in output. Imagine what a 5% cut would have done. Provides real life evidence how inelastic oil demand is. Especially when prices are coming off 50 year lows in real terms. The incentives for producers to cooperate are simply overwhelming absent deliberate sabotage by the US and its minions.