Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Mike from La. who wrote (33195)	12/20/1998 5:48:00 AM
From: BigBull	Read Replies (2) of 95453

All together now - The Shortage The Shortage The Shortage My new mantra. Key Points of the following posted link: 1. Inflation adjusted oil prices @ Great Depression levels. 2. Tax cut for consuming nations. 3. Russian oil export rev. drop made it impossible for Russia to pay her debts. 4. Norwegian oil income cut in half - no pensions for baby boomers. 5. Mexican oil export revs. down to 7.3 bill from 11.3 bill. 6. Mexican govt sharply decreasing govt. spending to avoid deficit. 7. Saudi's flew to Norway after Madrid meeting. 8. Moody-Stuart says OPEC produces oil @ $15 bbl. search.washingtonpost.com Also I read elsewhere that Russian wells are shutting down by the thousands, not only because of low oil prices, but because the Russian govt. is taxing them into oblivion. Lost the link but will try to find it and post it here soon. Can't imagine the wells are in good shape. Hell, the producers could probably make more money distilling vodka than they could pumping oil. Shortage, dead ahead.

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