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Gold/Mining/Energy : Oil & Gas Price Economics -- Ignore unavailable to you. Want to Upgrade?

To: jackie who wrote (268)	9/14/2000 9:52:53 AM
From: excardog	Read Replies (1) \| Respond to of 350

Jack, appreciate your well thought out post. I am of the opinion that extra OPEC capacity is nil. Kuwait announced today for example they are unable to meet increased quotas. Should the Saudi's announce this at some point look out above. I hope to be long just 1 crude future that morning. Your depletion comment is what the real crux of the matter is in my opinion. Having recently read Colin Cambells "The coming oil crisis" He lays out in great detail, depletion and reserve numbers set forth by OPEC nations and quite frankly they seem totally bogus when you get right down to it. I believe these numbers were set forth during what was known as the "pumping wars" OPEC countries were all trying to show higher reserves so that they could pump more within the cartel. So over the past couple years has there been any reserve replacement's amongst OPEC. One would doubt it, solely based upon the fact that even the Saudi's became a debtor nation of recent. I would very much recommend Colin Cambells book to those who are curious. I ordered mine through Amazon took several weeks to arrive and have since passed it along. He also has some stuff on depletion etc on the web. Sorry to drone on but me thinks we're on the verge of a panic. Scott Othus