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: kodiak_bull who wrote (71553)	8/24/2000 7:40:28 AM
From: jim_p	Read Replies (3) of 95453

If you think oil supplies are low in the States, look at China. China was a net exporter of oil in 1998, and now has a 7 day supply of oil!!! China is the sleeper, and when the world wakes up to that fact it will stay a major issue. Jet fuel increased 10-15% in the first half of 2000 in China. At some point the US coolness to the energy problem could give way to panic once global demand becomes clear and US inventories are deemed too low. With oil inflation working it's way into the system, a record 43% of US bonds being held by foreign investors, and the US dollar setting up for a high this fall, we could be looking at the trigger for a sharp rise in interest rates. Jim

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