Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: c.hinton who wrote (11377)	4/29/2002 9:16:52 PM
From: Art Bechhoefer	Read Replies (2) of 36161

>>can you count on the price of oil going anywhere but down?<< Maybe it goes down briefly in the short term, but since worldwide oil and gas consumption greatly exceeds additions to reserves from new discoveries or technology to obtain more from existing reserves, the price of oil and gas over the long term will just keep going up. The only thing that would change this outlook is an energy tax, and there's no chance of such a tax being adopted in the next two years, if ever. You can always get short term fluctuations based on weather or economic slowdown, but the long term trend remains up. Art

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