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

To: isopatch who wrote (79849)	11/23/2000 11:55:27 AM
From: Big Dog	Read Replies (1) \| Respond to of 95453

I don't think so. If, and that's a big if, price controls were put in place it would only be the 'gravy' that would be 'taxed away'. The oil companies can make most excellent money with gas at $3 and oil at $20-plus. I doubt if the taxes would go that deep. I think most people are underestimating the serious nature of the potential crisis that is before us. When/if this crisis manifests itself in the form of people actually dying and commerce grinding down, we will come to see the drilling rig as the oasis in the desert. (Matt Simmons calls the drilling rig the 'most efficient energy factory' we have.) How about the Energy Dept. itself chartering rigs for its own account to drill for oil/gas in response to the emergency? Or offering financial incentives to oil companies to drill for more? Now that's a wild scenario!!! But if such a crisis occur, I doubt if the government could be seen as exacerbating the situation by penalizing oil companies and presenting obstacles to obtaining more supply. It's one thing when oil/gas is an academic discussion. But when folks start freezing to death or dying from the heat it becomes a different situation. Just Dog Dreams on Turkey Day...time to baste... big