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

To: SliderOnTheBlack who wrote (55446)	11/26/1999 10:59:00 AM
From: The Ox	Read Replies (1) \| Respond to of 95453

Slider, just look back at the prognostications by our esteemed sector analysts from last year. $10-12 oil was going to be around for the next few years. Well, you and I both knew that was BS which was why you loaded the boat and I "dipped my toe in the water"<g>. These people are so afraid to make a call that they have no choice but to be lemmings. Not all can see the obvious. Best of luck, Michael

To: SliderOnTheBlack who wrote (55446)	11/26/1999 11:17:00 AM
From: Think4Yourself	Read Replies (1) \| Respond to of 95453

Let's not go into this again please. We all know the analysts in this industry are complete and total morons, who make throwing darts at a dartboard seem incredibly scientific/accurate. Think I just discovered a bug in the new SI. Seems you can't respond to a post if the latest post is by an "ignored" poster (the only one I have set that way). Wonder if "they" have contributed anything to the thread yet, or are still just bashing everyone else? Oh well, guess I'll have to wait until someone else posts.

To: SliderOnTheBlack who wrote (55446)	11/26/1999 12:44:00 PM
From: BigBull	Read Replies (2) \| Respond to of 95453

Slider, nothing like being late to the party, eh? I think your analyses on what OPEC needs to see before increasing production is quite correct. They can only increase production when "it no longer matters". 1. The psychology of NYMEX pit traders must complete the 180 turn. That process is well under way as lower compliance numbers are being sloughed off in relatively short order. 2. World crude stocks will need to to be removed to near dangerous levels. This process is under way as well. This is a moving target and will be largely determined by "perception". 3. World energy demand must be seen to be increasing to 97 levels. Again, we are on our way. I believe it will exceed 97 levels by a large margin. As you say, the world will need to plead with OPEC to increase production. At what price, and at what time this will occur is an open question. I believe you are right to conclude that the price will be higher than it is today. When, I don't have a clue. I'll bet it is sooner rather than later. Give me average 25 dollar oil for a year and I'll make a small fortune in da patch. Final bet: I'll bet dollars to doughnuts that the day OPEC decides to increase production, we will have heard every single CEO of every single Oil Major declare say they believe high oil prices are sustainable. <VBG> They will say this to justify massive new capex projects. They will bring Wall Street along for the ride and use it as a massive engine of propaganda. Like Fleetwood Mac says "it all sounds hauntingly familiar" <g> Bull