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: Crimson Ghost who wrote (45255)	5/21/1999 4:43:00 PM
From: upanddown	Read Replies (1) of 95453

''as time passes by, we believe more firmly than ever that the next decade will be the decade of persian gulf oil,'' dresdner kleinwort benson said in its latest world oil report. Logical conclusion, George. Domestic production is declining close to 10% annually. We are currently importing 60% of our crude and will most likely NEVER be under 50% again. North Sea production is also starting to decline. Where is the cheap oil ? Reports of the demise of OPEC may be a bit premature. John

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