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

To: SliderOnTheBlack who wrote (55658)	11/30/1999 9:27:00 AM
From: Think4Yourself	Read Replies (1) \| Respond to of 95453

All we need is one world event and the folks who have jumped on the short oil bandwagon are screwed (again). All the spindoctoring, which is currently in overdrive, won't make a bit of difference as those guys get reamed a new body orifice. Supplies are tight, and going to get tighter. Mr. Clemens is on my mail "block sender" list. For some reason his link to remove himself doesn't work very well. Probably uses the same expertise there as he does with his oil analysis.

To: SliderOnTheBlack who wrote (55658)	11/30/1999 10:07:00 AM
From: Terry D	Read Replies (1) \| Respond to of 95453

Nice post (except for the last little bit) - it is basic. Recovering demand and declining supply will drive inventory levels to dangerously low levels - maybe as soon as June. Oil and gas operators have had 20 years of oilfield service and product costs at levels with low to no profitability for the suppliers. Operators economies have benefited during this period. After 20 years of terrible market conditions, these suppliers are lean, mean and stripped for action. They may be able to leverage the improved pricing power over the coming 2 years. So I will stay the downsized, toughened oilfield services and products suppliers. Like Smith in the 30's. PS _ It is cold in NYC - and looks to stay that way for a couple days. AT LAST.

To: SliderOnTheBlack who wrote (55658)	11/30/1999 12:26:00 PM
From: Think4Yourself	Read Replies (1) \| Respond to of 95453

George Clemen outdoes himself! biz.yahoo.com ... ``Don't be fooled by half empty tanks in the United States and Europe,' says George Clemen, CEO of oil-gasoline.com. ``Refiners simply refuse to buy any more than they absolutely need at these high prices. Instead, they are using up cheaper oil in inventory while they wait for prices to come down.' ... "The report suggests the industry is right back where it was in December 1997 and the only thing keeping prices afloat is Y2K speculation." end of quotes WAKE UP GEORGE! OIL WAS $18-23/BBL IN THE LAST QUARTER OF 97 AND THE FUNDAMENTALS WERE ALL GOING IN THE OPPOSITE DIRECTION!! Well George, if the refiners are using up their internal stocks and only buying what they absolutely need, yet API numbers are dropping like a rock, doesn't that imply that supplies are dropping FASTER than what the numbers indicate? Also, if refiners are only buying what they absolutely need, why haven't refinery utilization rates dropped significantly, and why haven't refining margins improved more? If you are suggesting that oil prices are too high and the refiners aren't restocking, what do you think will happen to the price of oil in a few months when stocks reach dangerously low levels and the refiners HAVE to restock or shut down their refineries.!? Once they use up their safety buffer the refiners are easy prey for price gouging. Are the 300 million missing barrels now 400 due to the over production? somewhere out there are thousands of supertankers going in circles? Perhaps George should peruse the data in the DOE's Weekly Petroleum Status Report. Refinery utilizations are up, product demand is up, supplies are down. The trend has been present for months. Instead, Mr. Clemen prefers to selectively choose data to try to make a case that fit's his prayers.