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To: AllansAlias who wrote (24775)	10/5/2000 11:03:44 AM
From: pater tenebrarum	Read Replies (2) \| Respond to of 436258

yes, it looks like it...i wouldn't write it off though...it all depends on whether the global economy plunges quickly into recession or not...and on how cold this winter turns out to be. certainly the energy crisis is far from licked longer term. the latest Simmons report reads like a good horror story...he estimates that OPEC's spare capacity is really only 500k bpd. furthermore the transport(tankers,pipelines) and refinery bottlenecks, the lack of available rigs, and production declines of major non-OPEC fields, will probably take a decade to overcome, and that will only be achieved if oil prices stay high or go higher...another price crash due to economic weakness would help cement the underpinnings of an even greater crisis down the road... but not to worry...oil doesn't matter in the new era...