Pride Petroleum Services (PDE) Message Board

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Gold/Mining/Energy : Pride Petroleum Services (PDE)

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To: Bill Zeman who wrote (379)	2/27/1999 9:50:00 AM
From: patim	Read Replies (2) of 454

Goodmorning: Momentum drives prices way too high or way to low. We really are way too low. Yes, it could stay bad for 2 more years, but if it did, the oil producers( including several once very wealthy countries) would collapse. I don't think that can happen, because the solution is in their control. All they have to do is say "hell no, i am not going to take it anymore". They can raise the price just by slowing down their pump. Also, with so many rigs out of service, once the inventory drops it may drop a lot as it will take take awhile to reactivate many of the rigs. Oil is just too low to sell in my opinion. Could be wrong, but the odds I believe are stacked heavily to our favor. Good luck.

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