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

To: Wowzer who wrote (68382)	6/18/2000 9:16:00 PM
From: BigBull	Respond to of 95453

Rory, thanks for the Barron's piece. IMO the question turns on the all important question - How much of the increase will be "paper barrels?" Let's say the "increase" is 1 mbpd. If current quotas are factored in. Then the real increase is about 3.5 mbpw. Enough to drop oil to 25? I don't know about that. Current decline rates of US stocks would take a good 75% of that number just to flatten out, never mind increase stocks. Remember US crude stocks didn't just slowly roll over from that 308 number, they plunged. Time is a very important element now. Too little, too late? So let's watch just how much new REAL oil is to be produced. If it's 1 m{REAL}bpd then yeah, oil takes a big hit. Bull PS I just got a way cool computer game Shogun: Total War - awesome! Get it!