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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: BigBull who wrote (92360)7/17/2001 10:00:17 AM
From: Art Bechhoefer  Read Replies (2) of 95453
 
BigBull, your arguments are compelling, but I would agree with you only to this extent: If the restrictions on Iraqi oil are lifted, then we will see crude prices drop to levels below $20. As for oil from the Caspian region, it will be quite a while before the pipelines allow much on the market. Oil reserves off Africa are important, but relatively insignificant when compared to the size of Iraqi reserves.

Art
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