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

To: BigBull who wrote (61996)	3/12/2000 7:17:00 AM
From: chowder	Respond to of 95453

Hello Big Bull! Thanks for the welcome! Like you, I'm getting ready for the anticipated, (at least by me), pullback in the OSX. I've sold most of my holdings. I still have positions in PDE and TMAR, although it's still early for the boats. My only E&P at the moment is KP. I can't explain why, other than it hasn't been discussed here, and I like to go against the crowd on occasion. It must be the rebel in me. I can't complain though, it's had a nice little run lately. Bull, do you people in the Port City read The State? Fridays's business section had an article on oil prices. Check these prices! Hong Kong - $5.40 per gallon England - $5.00 per gallon France - $4.50 per gallon Italy - $4.28 per gallon Japan - $3.46 per gallon Mexico - $2.04 per gallon US - $1.44 per gallon ------------------------------------------------------------ Consensus estimates say OPEC increases production a mill to a mill and a half. Consensus hasn't been right in a year, why should they be right now? This could get very interesting. If I may play devil's advocate for a moment, here's what I would do if I were OPEC. OPEC countries are still devastated, financially, from the recent drop in the price of oil. Since most of the OPEC countries still have huge debts to pay off, it may not be in their best interest to increase production at this time. If I were OPEC, I'd much rather have $28-30 oil as opposed to $24-25 oil where the US wishes it to be. (Notice how $30 oil made $25 oil preferable, it used to be $20 everyone was talking about.) If I were OPEC, I'd refuse to increase production for at least three more months. If oil then goes to $35-40 per barrel it would make $30 oil very attractive. Although $35-40 oil may not be in the best interest of the world, (inflationary you see), a short term of three months wouldn't be devastating, in my opinion. Yes sir, one more time to hold production back and $35-40 oil should do the trick. dabum