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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: Frank who wrote (32477)5/27/2004 8:18:03 AM
From: sammaster  Read Replies (1) of 206325
 
have the majors given any excuse as to why they aren't spending more money on exploration than they are now even though prices are at multiyear highs? they seem to be spending a lot of money on share buybacks rather than for future growth.

or are they thinking like everyone else that this is a short term spike like everyone else and dont want to burned like other cyclical boom-bust peaks in the past like the late 90's? seems like they should know the long term demand/supply of oil better than us...

or are they thinking that there arent any major fields left to explore that are worth their time because of their size? smaller cap companies can make decent money on these smaller fields which is what is happening whereas the fields would barely make a blip in the majores revenues.
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