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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: AltLar who wrote (25147)7/5/1998 7:51:00 PM
From: Chuzzlewit   of 95453
 
Larry, thanks for posting some very informative sites. Two points struck me as particularly germane. The first was the fact that oil utilization has been outstripping replacement of reserves. This is precisely one of the necessary conditions for a substantial boost in day rates for the drillers.

What I found really fascinating was a breakdown of what parts of the globe would be responsible for the increase in petroleum consumption. Asia was by far the biggest component:

ecotech.org

That's why I believe that the solution to the oil drilling malaise depends on an Asian recover, not the price of oil.

Thanks again,

TTFN,
CTC
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