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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Big Dog who wrote (17261)3/31/1998 1:14:00 AM
From: Chuzzlewit  Read Replies (2) of 95453
 
Big Dog, I think Tulvio pointed out that OPEC is really irrelevant to the spot price of oil because there is nowhere left to store the stuff. We have summer coming in and an end to el nino. The Asian crisis will end. Demand will increase, and with it crude prices. In any event, Baird has argued persuasively that the profits of the off shore drillers does not depend on the price of oil sp long as there is sufficient profits to fund exploration budgets. So, I guess the only issue is how long it takes the fund managers to become as smart as us.

So take your prozac, gang. The sun will rise tomorrow and the day after.

Regards,

Paul
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