Strictly: Drilling and oil-field services Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Think4Yourself who wrote (44625)	5/12/1999 5:49:00 PM
From: BigBull	Read Replies (1) of 95453

Well I am not so sure they want $16 - $18 oil. Even with the recent rise in the price of oil, the Saudi's are still projecting a budget deficit of $5 billion. arabia.com They have a 24% unemployment rate composed mainly of young men with too much time on their hands. Idleness is the devils workshop. They know they need to diversify their economy and this takes lots of money that they do not now have. This country has some pretty severe economic problems that will not be cured overnight. Am I suggesting that the oil business is not cyclical, perish the thought, but I don't think you'll see too much pumping in the near term when they are getting 50% more money with only a 7% cut. They have never managed the boom and bust cycle to the degree that you suggest before, therefore history books argue against their ability to do that this time as well. The burden of proof is on them. Maybe it's different this time. Who knows. Anyway Wollanchuck is 14x market timer of the year, which probably spans the bulk of his public career. I think his record merits at least an open minded listen.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next