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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (29664)	7/10/1998 8:42:00 PM
From: Merritt	Read Replies (1) of 132070

MB: regarding your #3. response to Bruce: When the last run-up in oils took place, the U.S. was booming, Asia was expected to continue its double-digit growth forever, and the dollar was in a steep decline vs the yen. Maybe there have been some fundamental changes.<G> As to the world running out of oil in 40 yrs; I remember a Saudi Sheik saying, in the 70's, that we in the U.S. were ignorant and stupid because the world was going to run out of oil in 25 years. The more things change, the more they stay the same. What with improvements in seismic mapping and extraction methodologies, I doubt anyone knows when we'll run out. We will, that's certain...but I suspect if somebody were to chart the Hubbert curve over the last 30 yrs or so, it would look more like a piece of Christmas ribbon candy, than a curve.<G> Merritt

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