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

To: Xpiderman who wrote (73845)	9/19/2000 8:27:13 PM
From: kormac	Respond to of 95453

-X, The writer Jerry Taylor appears to be unaware of Colin Campbell's thesis that oil production is going to peak in about 4 years. For him to say that ... "given present consumption levels, the Energy Information Administration reports that oil fields could last another 230 years before running dry and that unconventional petroleum sources (tar sands, shale, and the like) could meet present demands for an additional 580 years" ... shows great ignorance of the realities. How can anyone write today that with the present consumption etc., when it is blasted every week in all sorts of papers that the consumption increases with anywhere from 2-2.5 % /year. Maybe we should send him to have a talk with Matthew Simmonds about depletion. best, Seppo

To: Xpiderman who wrote (73845)	9/19/2000 8:34:58 PM
From: hdrjr	Read Replies (1) \| Respond to of 95453

X, Wow what an article, I am selling everything tomorrow, it is amazing that this info has not come out sooner. Obviously, the market is being manipulated with that much oil capacity available and I do not want to be caught up in the next drive by shooting. I feel rather stupid at this point for believing the hype for the last year and a half. Time to take profits?

To: Xpiderman who wrote (73845)	9/19/2000 8:56:45 PM
From: BCherry168	Respond to of 95453

No Need to Panic over Oil Prices: Usually the Cato people have some inkling of what they are talking about. Obviously, this guy does not.Like Slider said earlier, the problem is that guys like this are the ones driving the market, not us. Incredible, but probably true. API's looked pretty good. Wil the market follow fundamentals tomorrow, or BS? My guess is: BS. We will see.