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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: kormac who wrote (143127)12/31/2010 7:27:07 AM
From: tom pope  Read Replies (1) of 206151
 
I think an appropriate question is whether there is a supply problem at this time. Is the market constrained?

To say there is plenty of oil is consistent with the view that the floor price for oil is steadily rising. Give me $200 bbl oil and the oil companies will give you all you want, as long as they are confident such a price can be maintained. Drilling 5 miles into the GOM is not the same as sticking a straw in Ghawar in its youthful days.

Elmat, among others, may have something to contribute re new discoveries over the last ten years.
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