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: isopatch who wrote (90074)	4/17/2001 10:56:48 PM
From: Douglas V. Fant	Read Replies (1) of 95453

iospatch, Maybe our Great Great Grandfathers fought in the Army of the West together...Well, energy-wise we had a rolling deregulation of electricity markets that froze capital investment in power-related facilities, combined with a surge in power usage by expansion of the tech industries and accelerated nationwide population growth due to increased immigration. To top that off the Middle Eastern oil producers priced their production predatorily (IMO) in order to damage the domestic oil & gas industry. The independent producers begged for help, but received none and 150,000 jobs disappeared in the oil & gas and service industries in 1998-1999. Those factors have conspired to place us "behind the eight ball" in terms of energy infrastructure.... My analysis of the gas-to-power markets is that we'll have ten years of cutting and pasting to do... And this is still against the historic backdrop for the last 150 years of industrial revolution (since 1850) where the world economies have moved from high carbon/low BTU content fuels consistently toward lower carbon/higher BTU fuels....

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