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Gold/Mining/Energy : Trico Marine Services (TMAR)

TMAR 22.41

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Nov 10 9:47 AM EST

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To: Robert T. Quasius who wrote (540)	7/11/1998 4:14:00 PM
From: D.J.Smyth	Read Replies (1) of 1153

here's a quote from the CEO of Talisman, a man well respected in the industry: talisman-energy.com specifically: <<The circumstances are more favourable today than in 1986 when oil prices also fell dramatically. Spare productive capacity is 4% now compared to 15% then and interest rates are much lower. Oil and gas are non-renewable commodities that are destroyed in their use and constant reinvestment is required to meet increasing demand. Since reinvestment is likely to fall in the face of low prices, supply and demand both adjust, making prices inherently self-correcting.>> in other words, if demand for oil increased by just 4%, production capacity, being maxxed now at 96%, would be hard pressed to meet the increased 4% demand as this would bring productive capacity at 100% or spare capacity close to 0%. spare capacity has rarely been at this level since WWII. with the world population expanding at over 4% a year, it seems to me some built in increased energy needs is already there. Asia, i believe represents at least that 4% if not more.

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