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: Think4Yourself who wrote (86788)	2/10/2001 3:10:28 AM
From: BigBull	Read Replies (3) of 95453

Have you ever heard of the term "overcapacity"? The same idiotic claims where made for semi-conductor capacity - that demand for semi-conductors would continue endlessly and that semi fabs would never meet demand!!! Clearly California will plunge into a deep recession due to the excessively high NG prices and demand for the commodity will plunge/ Oh why should I even F*cking bother..... Econ 101 no longer matters to you guys. According to you guys, people will pay any price for NG even if it causes them to commit economic seppuku?!!!! They have no choice right? All of California will bankrupt itself so that you can become rich into perpetuity on your NG investments??? Did you people ever stop to think that this idiot Davis may not get re-elected? That California can meet their energy needs in some other way? Ever heard of the term "overbuilding"? Can't happen to the ute industry, right? What makes you so sure today's demand will remain constant? You have been reading the latest economic news haven't you? What makes you so sure that capacity will actually be used? I guarrandamntee you a whole lot of auto factory and related subsector capacity will not be used this year - ditto semiconductor capacity. If people in the oil industry wish to maintain the suicidal, childish, and shortsighted view that a bankrupt California is a "good thing", then they will get their true and richly rewarded deserts. Much, much, much lower oil and NG prices. It is idiotic to argue that the laws of economics have been repealed to satisfy the lust of a few stock traders. The magnitude of the forces at work here seem to be beyond the comprehension of the bulls just as same as they were beyond the bears a mere two years ago. That such arguments are made convinces me more than ever that a true cyclical top is at hand.

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