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

To: excardog who wrote (81941)	12/18/2000 1:03:23 AM
From: Douglas V. Fant	Read Replies (1) \| Respond to of 95453

excardog, NG prices usually self induce economic slowdowns and cause their own drop back to a median pricing area. We may be seeing the leading edge of that happening in California right now (California =10% of the US' GDP)......I myself see it in prices on long-term NG contracts upon which I am working right now for California customers. One of the tremendous failures of the Clinton-Gore Administration was lack of an energy policy. It's coming back in spades upon California right now. As I noted as just one small example a week ago, my previous employer Mobil Oil Corporation offered to develop large oil & gas fields in a unique onshore fashion with no offshore platforms in 1996-97...and were shouted down by the usual environmentalists/NIMBY types- So we packed up our bags and left. With a 3-4 year lead time development, those fields in the Santa Barbara Channel could be providing part of California's oil & natural gas solution right now. And rather than going on "withchunts" and looking for conspiracies, better time usage would be for the California political leaders to admit their incompetency in handling these important issues and get cracking in developing a RATIONAL statewide energy policy.... As for individual California-based companies that find themselves in this morass, here is a very critical suggestion: You need to dedicate one of your staff heavily or exclusively to energy management issues.....IMMEDIATELY, as I would not want to depend too heavily upon the political leadership in Sacramento to help you too much except perhaps for bandaid solutions....