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Gold/Mining/Energy : SSRIF Silver Standard Resources
SSO 83.51+0.2%11:46 AM EDT

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To: ForYourEyesOnly who wrote (380)11/29/1999 12:33:00 AM
From: Gerald Walls  Read Replies (1) of 403
 
Except for the fact that once the oil is gone, those countries will return to desert unless they have accumulated a large amount of wealth or built other industries......

We've always been 10 years away from running out of oil. That's why we had the 55 MPH speed limit and still have the EPA mileage requirements. Don't believe it.

Long term thinkers will want to sell at a higher price.

Perhaps they will work together to raise prices?


They tried it in the 70's and oil's been in the single digits since then. Why will it be different this time?

Cartels don't work except over a short period of time. (The only exception I can think of is diamonds, and from what I understand the Soviet collapse almost released a horde of diamonds that would have brought that down.) It's a variation of the Prisoner's Dilemma. The biggest winner in a cartel is the one that cheats the most, especially if all the other members honor their limits. They all know this so they all cheat, while publicly denying it.
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