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

To: enervestor who wrote (56526)	12/9/1999 2:51:00 AM
From: upanddown	Respond to of 95453

This might be of some help to you though it is not completely up-to-date. wtrg.com I don't think it will show that current prices are cheap historically if you are looking at 50 years. Remember that for the first 25 years, prices were very stable (barely fluctuating between 2.50 - 3.00) since major producers were basically controlled by the seven sisters. The last 25 years are totally different since OPEC producers declared their independence of Big Oil in 1973. That is not about to change so I think average prices since the first oil embargo are more meaningful. John

To: enervestor who wrote (56526)	12/9/1999 7:59:00 AM
From: Terry D	Read Replies (1) \| Respond to of 95453

This sounds about right - "Gulf sources have been fine-tuning their position on prices, which heaps on conditions before considering a possible collective decision to ease output restraints. Key to this view is that WTI would need to be over $25 for a sustained period, based on real fundamentals, not speculation, and a clearly tightening market outlook of high demand and low inventories."

To: enervestor who wrote (56526)	12/9/1999 10:38:00 AM
From: SargeK	Respond to of 95453

Crude Price Increases vis-à-vis Inflation From the Economist: “Refining the argument - Even if the impact will be more modest than in the past, dearer oil will still leave some mark. Inflation will be higher and output lower than they would be otherwise. The OECD's rule of thumb is that a $10 increase, if sustained for a year, would increase the inflation rate in rich economies by about half a percentage point and knock about a quarter-point off growth. The impact of higher oil prices varies by country too. Perhaps the biggest risk is in America, where rising oil prices may push the inflation rate higher than is currently predicted. The slide in oil prices in recent years was one of the main factors that helped to hold down American inflation, so prolonging the country's long economic expansion. That positive factor is now going into reverse. Higher oil prices have already helped to lift America's inflation rate to 2.6% in October, up from 1.5% a year ago; the latest rise in oil prices could well push it above 3%. The core inflation rate remains relatively subdued, but headline inflation could still spill into wages and hence other prices. If it does, the Fed might be forced to raise interest rates by more than is now forecast. So OPEC could yet do more damage than most people expect.” economist.com Sarge Note: This didn't answer your question; but, may be of some assistance.