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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: The Ox who wrote (25491)7/10/1998 6:52:00 PM
From: marc chatman  Read Replies (1) of 95453
 
Asia is in horrible shape in terms of economic activity. All I have is anecdotal evidence from people I knew when I lived out there. I don't know how much oil is stockpiled, of course, but I can guarantee usage is down substantially, and there is no quick fix. I don't think "demand is getting worse every day," but it's down and not getting better. Just like the last downturn in the 80's, they'll have to ride this out.
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