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

To: isopatch who wrote (74464)	9/24/2000 9:31:17 PM
From: kormac	Respond to of 95453

Isopatch, I wonder if the Saudis will feel insecure with the empty threats. If our government really is putting out the possibility of pulling out, be assured that this will disappear after the election. I stated a couple of weeks ago on the Oil Price and Economics Thread that those who have been blaming Bush Sr. for leaving Saddam in power, might consider that he is an easy villain to take out any time and in the process gain access to the second largest oil reserves in the world. It would be much harder to occupy SA, as the Muslim holy places are there, (this was mentioned on this thread before). Before someone flames me for advocating an invasion of Iraq, I am not doing so. I am merely trying to figure out what decisions people in power might take. The e-mail by Simmonds to BigDog is quite alarming. Big Bull has a much better feel for the nuances than I have for reading these kind of statements. Since I can neither accumulate the experience on trading that you have, nor the experience of those who have spent their lives in the oil business, I try to carefully read the posts from you and others. I managed to get hold of Colin Campbell's book this summer, and as you may know he has been talking about depletion for a number of years. In fact a number of people have said that he has cried wolf too many times. In following his logic reasoning, we may be arrive at the world production peak by 2004. Is Simmonds remarks on the worst oil crisis ever related to this. I am still trying to figure where the current missing barrels are. I do not have access to the data that Fred Lauffer? of Bear Stearns migh have. Your link to the contraryinvestor shows that China's imports increased from 1.5 to 5.5 Mbd. from mid 99 to a recent month. contraryinvestor.com Our SPR is in caverns in LA. Has China managed to build a similar storage facility? How much oil can be stored in existing tank farms? I have no idea of their size (even if I did design one while working for Chicago Bridge and Iron one summer 33 years ago). And then what is the real figure on OPEC production? Are they actually pumping as much as their quata allows? If they are, how much of this is on the water as Fred of Bear Stearns warns us? A lot of conflicting information. Better tape reading skills would help at this juncture. with my best, Seppo