Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Post_Patrol who wrote (72730)	9/8/2000 3:11:25 PM
From: diana g	Read Replies (1) \| Respond to of 95453

"...it appears that crude oil prices are on track to continue their rise for several months. ..." This in a report from George of Noesis fame.... (((enBoldenment of George's comment on future crude prices from me --d))) EIA data released yesterday shows the industry pushed inputs to crude stills higher to a total of 15.8 million barrels per day (MMBD). The increase went toward higher production of heating oil. Inventories in the Northeast continue to rise at a normal rate for this time of year. Overall, crude oil imports were higher at 9.67 MMBD, but most of the increase was due to a bi-weekly receipt in California. Continued higher import rates to the US West Coast are changing the US import picture -- tipping dependence even more toward OPEC. Check out this week's Crack Spread graphs! While East coast refiners are barely turning a profit, refiners on the US West Coast may be turning in obscene profits for the fourth quarter. Finally, will crude oil prices drop after the OPEC meeting? There may be a short term correction due to normal response to news by speculators in the futures market. However, all factors taken together, it appears that crude oil prices are on track to continue their rise for several months. Check out the Members' Home Page TODAY for a new, short forecast and prediction of economic impacts within the next year. --George oil-gasoline.com

To: Post_Patrol who wrote (72730)	9/8/2000 3:27:22 PM
From: Pete Young	Read Replies (2) \| Respond to of 95453

Having lurked here for a couple of years, inquiring minds want to know how much $$ PP has lost being mindlessly short the OSX? Eventually, I'll grant PP will be right--but perhaps long after the broker has taken the keys away. A short-term selloff wouldn't surprise, or bother me. I added my positions in March-April of '99 (using the fine rec's from the contributors here--an extra tip of the hat to SOB), and have held tough, "sweating it out" when the OSX dropped into the 60's in the fall of '99, while I watched others like SOB trade circles around me. I've recently added some MDR, and am looking at some other OSX laggards w/or w/o a dip. The fundamentals for the OSX look pretty darn good to me--the depletion/underinvestment argument is playing out with a vengeance here. So what if oil dips to $25? E&Ps are going to have to drill like mad to keep up with worldwide demand. (Big, you are so right on this one.) And while they do, rig utilization is going to go up, up, and pretty soon, it'll be time to build some more rigs...and shoot more seismics. It's really good that we are climbing that wall of E&P FUD, as it's hard to have a bull market if everyone thinks things are just perfect. (I see the same thing going on over in semis...) My only concern is that this doubt keeps supply so constrained that demand drives prices so far up that it induces a worldwide recession. (Apparently caution can kill too.) So, I guess I'll just watch and wait, while the pile grows larger and larger...and add as I see fit. Pete