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

To: Crimson Ghost who wrote (57197)	12/21/1999 7:27:00 AM
From: Gary Burton	Read Replies (1) \| Respond to of 95453

fwiw--Wed am TSC's chart expert will be reviewing the charts of 5 oil stocks (re -are oil stocks dead or just resting?)

To: Crimson Ghost who wrote (57197)	12/21/1999 9:09:00 AM
From: Richard D	Read Replies (1) \| Respond to of 95453

George, I know you believe your spring theory, but what happens in the spring when OPEC says that they will delay a decision for 3-6 months, which is what I and many believe they will do? Will you then say that producers will wait to see where oil will settle, again? Of course if no capex has been increased by summer or fall, then OPEC will likely delay output increases until next winter. Somehow I think U.S. producers will quietly increase capex, so as not to spook OPEC, regardless of the OPEC machinations, because to do otherwise would result in a permanent paralysis of our exploration process. OPEC, in turn, will VERY GRADUALLY up production so as not to overly spook oil prices. I see little logical alternative to the above scenario, unless there were a conspiracy to move oil prices in order to profit from oil equities and derivatives, either from going long or short. Richard