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Gold/Mining/Energy : Oil & Gas Price Economics
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To: Rod Copeland who wrote (2)11/30/1998 9:06:00 PM
From: Ed Ajootian  Read Replies (1) of 350
 
Rod,

Saw your classified ad on the oilworld site. You do have some stones to be drilling for oil at this time! Hope you have been able to cut a great deal for the rig. They oughtta be willing to do it for cost at this point.

I might have been interested in getting in on a gas drill, but now that gas prices have tanked too I think I'll pass.

The problem as I see it is that we still have pretty far to go until the Arabs & the Venezuelans have maxed out on producing all that cheap oil they have. IMO unless and until those suckers have maxed out the price will continue to drop, and they will garner more and more of the market as the rest of the world, having higher production & finding costs, will step to the sidelines.

Does anyone have any inkling of how long it would take (and how low the price would have to go) before these guys maxed out on their producing capacity?
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