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: Big Dog who wrote (72760)	9/10/2000 7:42:07 AM
From: BigBull	Read Replies (1) of 95453

Doggus Maximus, since you were the first to alert the board about the coming production capacity problems, I thought you might be interested in the following stories that vindicate your view: ------------------------------------------------------------ quote.bloomberg.com Iran, Nigeria and Indonesia last month produced less than their official OPEC targets at a time when prices were rising toward a 10-year high, reflecting an inability to pump more oil. Venezuela is at or near its estimated peak of 3.05 million barrels daily after a lack of investment during the last two years cut its potential by more than 10 percent. slb.com MUSCAT, Sept 9 (Reuters) - Oman said production difficulties were hampering its ability to keep crude oil output at 850,000 barrels per day (bpd) to meet demand, a spokesman for state-run Petroleum Development Oman (PDO) said on Saturday. ------------------------------------------------------------ Could this be the year that Europeans governments end their windfall profits at the expense of producers? My, my, wouldn't that be something? ------------------------------------------------------------ news.bbc.co.uk Earlier, leaders of the two main agriculture unions said they obtained important concessions from the government, including a significant cut in fuel taxes. But correspondents say the concessions will cost the French government about $640m slb.com ROME, Sept 10 (Reuters via energy24.com) - Italian Prime Minister Giuliano Amato has criticised fellow oil consuming nations for doing nothing last year for producer states when oil prices hit rock bottom. 'We complain now but we forget what we did to them. These are developing nations which derive their income from oil. We did nothing when the oil price slumped to $10 a barrel last year,' he said. ------------------------------------------------------------ My socialist friends say "The peasants are revolting" and "Let them eat cake" so what do they get? Storm the Bastille, brother! Bring on the tax guillotine!

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