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

To: BigBull who wrote (50807)	9/9/1999 9:33:00 PM
From: Roebear	Read Replies (2) \| Respond to of 95453

BigBull, First blurb I have seen about marine transportation for awhile, good news for boat companies, albeit super long term (BOOM 2010??VBG): tampabayonline.net Marine transportation report frames challenges for next 20 WASHINGTON (AP) - The nation's maritime system runs the risk of being swamped by a boom in commercial shipping over the next 20 years, so the government wants to find new ways to improve, run and pay for it. In a report released Thursday, the Transportation Department said the nation's economy could suffer if the challenges are not met. ''Much is riding on the results,'' Transportation Secretary Rodney Slater told a news conference attended by government and private industry leaders. Both sides teamed up since March 1998 to produce the report, ''An Assessment of the U.S. Marine Transportation System.'' ''Our nation's economic growth could very well outperform our marine transportation system's capacity over the next 20 years,'' Slater said. Despite its scope, the system is under stress. Each year it moves more than 2 billion tons of domestic and international freight. It imports 3.3 billion barrels of oil and transports 134 million passengers by ferry. Seventy-eight million people use the system for recreational boating and more than 5 million are cruise ship passengers. Over the next 20 years, the total volume of domestic and international marine trade is expected to more than double.

To: BigBull who wrote (50807)	9/9/1999 9:45:00 PM
From: JoeDi1213	Read Replies (2) \| Respond to of 95453

Bull -- A couple of things. Been hearing refiners are getting ready to lay on some heavy gas cracks positions. (Sell unleaded and buy crude in a ratio) If you want to play refinery on the NYMEX you would buy 5 crude and sell 3 gas and 2 heat. I have heard rumblings that some of the majors are getting ready to unleash their traders. The trading desks have been on a bit of a leash doing mostly hedging not too much spec. Heard of a few that just got the green light to have at it on the spec side. Commercials are pretty short and hurting. I'm sure you have noticed that any pullback has not lasted more that 3 days or so, there is just too much pent up demand for physical crude. The LOOP reported that shipments in Sept. will be down 8% from Aug. I think crude is just going to get stronger and stronger as the year progresses. Sure we'll see are dollar or two breaks but if OPEC holds firm we are tight. I've been watching the spreads on the LME (base metals) over Dec/Jan go into backwardation as companies step up buying ahead of Y2K. I suspect it going to be the same for oil and products which should help keep prices firm. I've been thinking for the last month or so that we are going to see $30 before we see $15 if the stock market holds. I think only one part is OPEC the other part just as big was and is the lack of drilling by everybody. If I was an Oil company I would have locked up every RIG I could lay my hands on six months ago. They have made 2 colossal blunders. The first believing oil was going to 5 dollars the second not believing the price of oil could ever recover.