Oil & Gas Price Economics Message Board

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Gold/Mining/Energy : Oil & Gas Price Economics

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To: Ed Ajootian who wrote (1)	11/30/1998 6:16:00 PM
From: Rod Copeland	Read Replies (3) of 350

As a producer, I can't tell you how tough the prices have made it for us. But I am not a whiner. There will be gnashing of teeth with the pain and anguish of enduring this cycle of the market. Many won't survive. There has been some crying out for governmental intervention and assistance for the industry, to which I remain opposed. Help now would bring "windfall profits taxes" later. I cling to the hope that the market will take care of itself with time. Although demand has stalled out for the present time, it will not remain so. This price glitch will eventually lead to record high prices. The unanswered question remains, When?. I have my doubts that anyone can predict that with any accuracy. There are simply too many variables that come into play. You can only look at historic information and make some assumptions about what a barrel of oil is truly worth. It appears to me that it has been worth a great deal more than it is selling for now. In the meanwhile, I will try to find some more of it while the finding costs are low.

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