Why the Sea of Red today?

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And why the silence now?

-- cpr (buytexas@swbell.net), March 08, 2000


WOW! Major drops! But why alluva sudden?

-- Squirrel Hunter (nuts@upina.cellrelaytower), March 08, 2000.

OPEC nations will ease (increase supply).

The last thing they want is recession in West = less demand = fewer barrels at same price or fewer barrels at same price.

Either way they lose.

They are walking a tightrope.

-- You'll See (ItComes@Soon.Now), March 08, 2000.

"fewer barrels at same price or fewer barrels at same price."

higher demand = higher prices.

-- (You forgot@about.it), March 08, 2000.

What's good for GM is good for the country. What's good for the US is good for the world?

-- Porky (Porky@in.cellblockD), March 08, 2000.

Because Greenspan - or rather, his minions - have used this petro thing to both re-distribute global cash flow and put a pause on domestic US GDP growth.

Swear to God. Only the G-dude could pull this off.

-- lisa (lisa@work.now), March 08, 2000.

Why the silence yesterday about the correlation between recent new oil highs and the DOW plummeting?

-- J (Y2J@home.comm), March 08, 2000.

dope slap your fro old bean, gas is goin' up to $6 bucks a gallon by April, and you no have the means to purchase it.

-- oil geek (beth@saw.Tigger), March 08, 2000.

Oil Revenue(to OPEC)=(price of oil)*(qty of oil sold)

As price increases, the usage decreases (elasticity). From OPEC's perspective, there is an optimum price that will maximize revenue. This optimum can only be found by trial and error and is affected by many unpredictable variables. As the price of oil increases, so does the incentive to find new, non-OPEC, oil supplies and/or alternative energy sources. The stock prices of oil service companies like Schlumberger have increased recently. I wonder why?

I believe the energy "crisis" of the 70s ended quickly when Reagan eliminated Jimmy Carter's rationing and let the markets work.

-- Lars (lars@indy.net), March 08, 2000.

Refinery capacity still down.

-- - (x@xxx.com), March 09, 2000.

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