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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Think4Yourself who wrote (47513)	7/8/1999 1:33:00 AM
From: Douglas V. Fant	Respond to of 95453

Ken, Good comments and I agree- except for the comment about North America being marginal. North America is key for natural gas, marginal maybe for new oil. But what the AG Edwards analyst missed is that effective tax rates are lowest in the USA. Thus domestic production is the "swing" element in any portfolio of producing properties- i.e. where the upside is when prices rise. Overseas profits are either fixed or tax rates are very high as in Asia and the Middle East...