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

To: Second_Titan who wrote (74478)	9/24/2000 10:45:51 PM
From: Umunhum	Read Replies (1) \| Respond to of 95453

<<Perhaps when we finally get ahead of demand curve the resultant peak production will occur as predicted by Campbell. >> There are going to be two oil crisis. One when supply exceeds demand and the second one at peak production. Any followers of this thread know that OPEC potentially could produce more oil but they haven't been investing in their infrastructure nearly to the extent that they should be. My theory is demand is exceeding supply, OPEC is producing their last barrel of capacity and the President and the Vice-President know this. What are the chances of Gore getting elected if oil spikes to $50 a barrel in the next month. Their inept energy policies will be exposed and Gore will never be elected. They know none of this SPR released oil will turn into heating oil because of the refining bottle neck. There is no doubt oil supply and demand is real tight. Historically 4th quarter demand rises 3-4 million barrels per day. Where is this oil going to come from? Think of the headlines we've been reading in the last few weeks. Kuwait comes out and says they cannot meet their production quota. The next day Kuwait says the producing nations need to meet with the consuming nations because demand is too strong and there is no way they can continue meeting it. A few days later the President of OPEC does a complete 180 saying the world is about to have an oil crisis. (The months leading up to this announcement they have been claiming that they could raise capacity at any time. Mainly to stop any E&P from the majors) The only result of the SPR oil release is that it will temporarily put more supply out into the markets and drop the price of oil worldwide. No new heating oil will be made but it will put the inevitable oil crisis off a month or two. Just enough time to get us past the election. As Matt Simmons says, "We are on the cusp of our most serious energy crisis to ever hit the world."