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Politics : High Tolerance Plasticity

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To: Gottfried who wrote (4192)	5/6/2001 5:23:53 PM
From: Second_Titan	Read Replies (2) of 23153

Well we will see what happens, comparing this point in the OSX to the last one offers some similarities and some differences: 12/96 to 5/97 A crude build from 283MB to 326 MB 10 /2000 to 4/31/2001 280 - 318MB WW Rig Count Higher now and climbing with most of incremental work in NA gas directed. 12/96 - 851 total rigs 353 oil 496 gas 5/97 - 961 total rigs 396 oil 562 gas 10/2000 1084 rigs 228 oil 855 gas 5/2001 1217 total 244 oil 971 gas The OSX in 1997 went on to rise to new peaks even with crude oil at $18 dollars and inventory over 300 MB. Of course the Asian crises and OPEC raising production sent crude prices from $18 10/97 tp $11 in May 98 with the OSX following and WW RIG counts lagging by about three months. I dont think NA NG drilling can keep climbing, but I also see that world wide drilling for oil & gas is just now picking up. Can the international arena where margins are higher support OSX going forward even with NA NG drilling decreasing?

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