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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Douglas V. Fant who wrote (50462)9/7/1999 2:04:00 AM
From: dfloydr  Read Replies (1) of 95453
 
Doug,

Thanks for the Indonesian report ... both the personal story and the news report on the chaos in East Timor.

The Indonesian situation underlines why it is comforting to have some of our oil coming from Oklahoma, Texas, the GOM ... which is part of why I expect to see most rigs busy domestically both on and off shore within a short while.

I note that there have been recent reports of oil shipments starting up out of the Sudan. Knowing the politics of that region, that oil might be even less reliable than that coming from Indonesia.

By the way, twenty or twenty five years ago a friend of mine was seconded from IBM to be a White House Fellow. She was put in charge of finding commercial applications for one of the Earth Satellite programs. I remember her telling me that they had identified land structures in Sudan that echoed some of the largest oil reserve areas in the world and they suspected sizable reserves could be found there. They were trying to get various majors interested in looking into the region. It took from then until now to get anything done and I still wonder whether it will amount to anything under the circumstances.

As we now rely on imports for more than half our consumption it is not comforting to look over the list of promising new oil fields: Caspian Sea, Kazakstan, Indonesia, Iraq, Sudan ... they just don't seem like Kansas, do they?
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