Strictly: Drilling and oil-field services Message Board

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

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To: Czechsinthemail who wrote (12219)	2/20/1998 12:46:00 AM
From: AltLar	Read Replies (1) of 95453

Baird wrote... "If prices go high enough to warrant drilling cutbacks (unlikely), the same companies that will do best with low-priced oil will do well with high-priced oil -- the deep drillers with the heaviest concentrations in floating rigs." I've heard this reference before ... "If prices go high enough to warrant drilling cutbacks". In what way would high prices warrant drilling cutbacks? The reason I ask is that I believe sometime in the next year, maybe two, we are going to see a major price hike in oil, perhaps to the $30-50 range. I say this based mainly on the the recently published book "The Coming Oil Crisis" by C.J Cambell. He is one of the world's leading experts on oil geology, exploration, and reserves and is co-author of the upcoming Scientific American oil crisis article (due to hit the newsstands Sunday). I believe this idea may soon become a major media story. If so the media coverage alone will drive the drillers up. But what I am really wondering is what would the longer term effect of dramatically higher oil prices have on these stocks? Thoughts anybody? Larry

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