Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Wowzer who wrote (49192)	8/11/1999 11:45:00 AM
From: Timelord	Read Replies (1) of 95453

Rory - It depends on how bad it gets. In the shorter term, absolutely. This is my favorite sector right now. But in the longer term slower growth means less demand for oil. I'm not a doomsday bear, but the one lesson I came away with from '97-'98 in this sector is to expect the unexpected. There is a lot of paper wealth out there that is helping to feed this economy. If real inflation comes and the market overreacts (or perhaps reacts correctly?), all that paper wealth will disappear in a cloud of smoke, because very few people will believe there is a problem until well into the correction (go back and read this thread in late '97 or early '98). That effects spending and it effects economic growth. It could get ugly. Alex

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