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Biotech / Medical : Biotech Valuation

CRSP 53.57

-3.1%

10:28 AM EST

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To: IRWIN JAMES FRANKEL who wrote (21211)	9/9/2006 8:46:06 PM
From: tom pope	Read Replies (1) of 52153

news reports that the find means the world is not at peak oil production is amusing and misleading - IMHO. What it may mean is that finding new oil means drilling down four miles or so from a point about a mile below your drill ship. There's quite possibly plenty of new oil just waiting to be discovered. As long as you're prepared to pay a lot to bring it to market. Peak oil, not peak oil - a futile argument. Show us the money, we'll find the oil. At some point even ethanol will become economically competitive. What this does is put a floor under current oil prices, absent a major recession.

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