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

To: ItsAllCyclical who wrote (62126)	3/14/2000 3:48:00 PM
From: Jon Cave	Respond to of 95453

Added a little DO and PKD today. Wanted something in the oilpatch that wasn't too darn violatile. Wanted something I could get out of with a 2% loss or less if I don't like the API's tonight. Can probably get out PKD at 4 if the API's are bad and perhaps DO at 33.5. If the API's are good, could see a nice run up in both DO and PKD. What else has little downsize risk here? I've got a little RRC. Nice trader.

To: ItsAllCyclical who wrote (62126)	3/14/2000 4:39:00 PM
From: ItsAllCyclical	Read Replies (4) \| Respond to of 95453

Larry Kudrow finally coming around, kind of... Oil prices not coming down anytime soon, although he still implies that somehow $12 oil is the norm. These people always talk about a $20+ rise or up 300% in a year vs saying 66% higher than the previous standard of $18 oil. >> The Gore-Clinton ticket, however, may be in for some unpleasant petroleum arithmetic. OPEC spokesmen are suggesting that their March 27 meeting will unlock only 1 to 1.5 million barrels of new production. But they took out 4 million barrels last year. That was $20 ago. And the International Energy Agency believes that 2.3 million new barrels will be necessary to replenish inventory shortfalls. So oil prices may not decline for quite some time. << But then sadly he gets it wrong again thinking the US has much say over OPEC policy... >> If the Clinton Administration had a real foreign policy, then it could use its national-security and financial-assistance trump cards to bring OPEC to a 4-million-barrel-a-day production replenishment. Kuwait and Saudi Arabia wouldn't even exist as independent states were it not for U.S. efforts 10 years ago. << Copy of full article (mostly on oil prices and the effect on the pres. election and the economy) cnbc.com As an aside they talked about gas prices on CNN last night (Frontline?). Anyway one Texas senator talked about creating a floor for oil prices ($17) in the US through tax subsidies to encourage investment in our domestic oil business and discourage reliance on OPEC. Gee someone gets it. Can you imagine what that would do to the E&P sector? This idea might get more airplay if OPEC keeps prices high. Doubt it would get passed though.