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

To: Fun-da-Mental#1 who wrote (48134)	7/17/1999 1:35:00 PM
From: BigBull	Read Replies (1) \| Respond to of 95453

Fun-da-Mental#1: "Can't afford to get left out" - Precisely! Many have said that deep water is the future of the oil business. The biggest discoveries and reserves are there. How many more deep water fields are there that big oil can't afford to get "left out" of? Maybe you are right, and the Brazil situation is unique. Methinks not. IMO the damn is starting to burst. To paraphrase Gertrude Stein "Drilling is drilling is drilling" I don't particularly care how it starts. If the oil companies truly "want" to just sit on property, then why did they show up at the auction and engage in some pretty sharp bidding. I'm not buyin it, sorry. They showed up because they are OIL company's and they HAD to. Ask me if I care that they didn't WANT to. I expect this will be the latest OIL company mantra "Gee, we didn't WANNA to drill but we GOTTA drill!". Oh well ... the best laid plans of mice and men ......... IMO this is called competition. Competition and the oil cycle wait for no man. There will be fairly clear indication of when the top of the cycle is in. It just may be Brazilian overproduction. Oh, and these OIL company execs will be saying oil stays high for the next twenty years therefore we are budgeting for $20 oil forever. <g> JMVVHO Bull