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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 (60251)	2/14/2000 11:39:00 AM
From: The Ox	Read Replies (1) \| Respond to of 95453

I suppose those who are in charge of the spin expect OPEC to make the same blunder they made in Jakarta? No way. Let's assume for the sake of this discussion that oil prices follow the futures exactly. The average price for crude this year will be above $25/bbl. The improvement we saw in the patch last year will be forgotten as the profits generated this year will dwarf those of the previous year. While the futures traders seem to be in total control of the market, OPEC's moves have shown who's the real boss. Small increases in quotas won't undermine what they've achieved to this point. Anyone expecting large increases hasn't been listening to OPEC lately. JMO, Michael

To: Crimson Ghost who wrote (60251)	2/14/2000 11:48:00 AM
From: William JH	Read Replies (2) \| Respond to of 95453

George, I don't disagree with anything you have said. This is Charles Maxwell's thinking also. However, NG prices corrected from over $3 down to $2.25 or so, and have now moved back up some. This did not help the NG E & P stocks any that I know of. There is, at least in part, a perception that technology will do away with the need for hydrocarbons, so why invest in a dying sector. If I didn't have some other stocks, the last few months in E & P land would have put me out of business.