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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: SliderOnTheBlack who wrote (64205)4/10/2000 6:42:00 PM
From: Think4Yourself  Read Replies (2) of 95453
 
Your post about OPEC and the U.S. is interesting. I have been thinking all day about how Clinton and Richardson blew it BIG TIME by ignoring the true problem of speculators. Thanks to their lack of foresight the U.S. no longer has a leg to stand on when dealing with OPEC.

Regarding where in the industry is best to invest in, you have some valid points but if I had to choose I would say the drillers are ahead of themselves, not the EnP's. When I ask myself who is raking in the bucks the answer is obvious. My read on the majors is that they aren't going to open up their purses due to the uncertainty over oil prices. We STILL have clowns like Kudlow saying oil is going back to $15!

We also have Wall Street telling the EnP's they need to clean up their balance sheets and become fiscally responsible if they want to float more debt. The EnP's are listening.

The primary reasons for my one non-EnP, KEG, is due to the large number of workovers and land based NG drilling going on right now.

All that cash from the incredibly high oil and NG prices from last quarter is sitting "somewhere" in the companies of this industry. To me it's obvious where that cash is going to show up, and I'm going to be there when it does.
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