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Microcap & Penny Stocks : Green Oasis Environmental, Inc. (GRNO)

GRNO 0.00

Dec 16 4:00 PM EST

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To: carl who wrote (8812)	2/23/1998 5:16:00 PM
From: Charles A. King	Read Replies (1) of 13091

An interesting article indeed. And I just let my SA subscription drop after reading it many years. It is one of my favorite magazines. Too bad they don't have that article on their website except for a brief summary. sciam.com One thing that puzzles me about the article and why I must read it. Why would oil producers grossly overestimate the size of their reserves? Do they think it is in their interest to lull the world into complacency until another oil/energy shock hits the world like in the 1970s? Shiek Yamani who had been in charge of the Saudi oil industry in the 1970s but was fired in the 1980s, wanted to crash the price of oil and hold it down to bankrupt as many oil producers as possible, such as Mexico. His philosophy was to destabilize the world's oil production industry, making it easier for the most powerful producers to dictate policy. If I have that wrong, somebody speak up. My opinion of why the Saudis are pumping oil as hard as they can now with energy prices so low is to promote profligate energy consumption and reduce interest in energy production and research. The oil shocks of the 1970s sure came as a surprise to me. The only warning I ever had was a friend who stated that at the rate energy use was growing, at a certain time in the future, the earth would be glowing a dull, cherry red. So far, the one energy industry that works the hardest at unmitigated hype is the Nuclear industry. At the outset they claimed energy would be so cheap it wouldn't be worth the cost of metering it, but it has turned out to be the most politicized. I wouldn't count on nuclear to bail us out of anything unless we want to be like France. Personally, I don't believe half of what I hear from that industry. Some time ago, I quoted a column by Alan Abelson in Barrons which stated that world oil production was around 42 million barrels a day, or something like that. Michael Currie disputed that by saying he thought it was more like 63 million, but never got back to us with a source. Well, I see one of your sources says it is 63 million. petroconsultants.com OPEC produces 28 million b/d currently. Charles

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