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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Pete Young who wrote (36382)1/31/1999 9:35:00 PM
From: thomas hayden  Read Replies (1) of 95453
 
What would 14 to 15 dollar a barrel oil mean to the industry. I don't believe we'll stay in the 12 dollar range for too much longer, but I also don't think we will ever have a sustained period above 20 for the next decade. Somewhere in between seems to make since. Can the industry experience earnings growth at that level.

Maybe a better question is at what price per barrel is attractive enough to see oil companies begin new exploration?
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