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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Second_Titan who wrote (72742)9/8/2000 9:52:07 PM
From: Bernie Diamond  Read Replies (1) of 95453
 
Excess capacity inconsistency (again):

"Saudi Arabian Oil Minister Ali Naimi said Friday that OPEC's spare capacity stands at 3 million barrels of oil a day."

vs.

A view from Iran (Post #72720):

"On the current situation of the world oil market, Zanganeh said it is too complicated to allow a sound forcast, but what is a clear fact in the market is a dwindling excess capacity of crude production which stands now at less than 2 million barrels per day."

In either case, with worldwide increasing demand, the E&P time lag, tanker availability, refining limitations, NG depletion, etc, etc, it's a good bet that the energy crisis will be around for the forseeable future.

You can now add me to the contrary indicator list. :-)

Bernie
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