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: Big Dog who wrote (39099)	3/6/1999 1:37:00 PM
From: Gary Burton	Read Replies (1) of 95453

Big--Yes, I understand that. But my question remains--Is it logical in a cyclical industry for some juniors to more or less completely escape the carnage eps wise? If one looks at other cyclical industries, everyone suffers before its over, even the fabricators living off an old backlog. So, maybe we should change the question from "how long will oil prices stay 'down'?" ...to.. "how long before everyone suffers eps wise so that no one uses PE's anymore to value any osx stock because no one's earning 'anything'". The deep guys will likely still have positive numbers but the fab guys haven't even started to see declining earnings yet. Intuitively, that bothers me.

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