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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: upanddown who wrote (44432)5/10/1999 7:10:00 PM
From: JungleInvestor  Read Replies (1) of 95453
 
John, remember the old saw "the trend is your friend?" Well the trend here is a series of EIA upward revisions to demand and downward supply revisions that will continue throughout this year. They base their prognostications on past history. There were a lot of historical firsts during the $10 oil period that have ramifications that the EIA surely has not built into its models yet (e.g., low rig count, number of shut-ins, extent of capex cuts, size of OPEC cuts, huge size of mystery barrels in inventory, number of global interest rate cuts, size of IMF bailouts, acceleration of demand in Asia, etc., etc.)
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