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: Ronald J. Clark who wrote (60834)	2/24/2000 11:35:00 AM
From: Nello Filippone	Read Replies (1) of 95453

Senate Energy Committee on C-SPAN2 interviewing Adam Sieminski (Oil Startegist at Deutsche Bank Alex Brown), James Schlesinger (Energy Secratary under Carter)and John Cook (DOE Energy Division Director). The politicians are finally getting to hear the real story about the fundamentals of oil. Some key points covered and suggestions to help the Low heating oil/crude inventory situation. - Removing Oil from the SPR is not a solution, the SPR is already relatively low. - Increase production in the GOM and Alaska. - Reduce dependency on foreign Oil Imports. - Iraq is not going to be able to produce oil at it's current rate (it will decrease), this can possible set up National Security issues. - Increase Natural Gas production along with eliminating need for Heating oil(orth East) - Obvious increase Natural gas demand for the upcoming years - Limited resources because of low oil prices has reduced exploration. I can see why the DOE has no clue in forcasting with a guy like Cook. The other two panelists are very sharp. -C-span2 just cut away from the meeting, they said it will be taped a shown later.

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