From: Gene McAloon 

On Wed, 02 Jun 2004 21:04:25 -0400, "Steve Ewing"
 wrote:

>I was reading someplace about how vunerable the Saudi oil infrastructure
>is and how it could take two years to repair after a major attack.
>
>And somewhere else (either I read too much, or have to keep better track
>of my sources) of how the Saudi's promise to increase production is
>hollow, or at least the last gasp: that there is no more capacity to pump
>more.

The Saudi claim is not hollow. They do have excess capacity they can bring
on line. The problem is that it can't be done overnight. Not that there is
not a capacity problem for OPEC in general. Many OPEC countries are already
producing at capacity and have been doing so for a long time, in
contravention of their OPEC agreements. And as long as the speculators
among the commodity traders keep
the price artificially high, they will continue to do so.

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