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

To: gamesmistress who wrote (84863)	1/21/2001 12:53:56 AM
From: isopatch	Read Replies (1) \| Respond to of 95453

Nope. That's not what I had in mind, Gina(G) I don't invest in the giant international oils, and I'd hardly look to them to be the best planners for the future. Over many years, the independents have done most of the exploration work and drilled most of the wildcats in the patch. And they've been much better in responding to market trends. Gina, there have been some excellent posts by many contributors to this thread during the 18 months I've been reading it showing that the big international majors and super-majors have been even more behind the curve than usual (for a number of reasons)in the current cycle. Further I'd point out that hundreds of warnings by dozens of geologists, petroleum engineers, industry exeucitives, independent analysts and investment bankers people for over a decade that America has been moving straight into another major energy crisis. As far as CA specific problems? I'll bet if you did some research you'd find more than a few people warned for years about the unrealistic environmental restraints, and more recently about the serious flaws in the CA "deregulation" legislation as well as other misguided anti-energy supply policies of CA state government. But for an overall comprehensive plan? Most of us here would probably prefer an outstanding petroleum industry thinker and spokesman like Matt Simmons to any of the individual oil and gas companies. Fed and state government can then utilize the plan's policy formula to encourage the industry via more more friendly regulatory, tax and land usage inniatives. IMO this is what we're most likely to see happen. Matt Simmons is one of the top energy advisors to the new Bush Administration. Isopatch

To: gamesmistress who wrote (84863)	1/22/2001 12:12:32 AM
From: dfloydr	Respond to of 95453

Gina, back in 197x I visited the then treasurer of Mobil in his home and was told flat out that within a year oil would be selling at $100/bbl and that all company planning for the coming year was predicated on that number. Big not always = smart. Right now we have another odd paradigm shaping up which I suspect will, in time backfire. It seems the new administration is going to do a lot to stimulate domestic production and we investors in same are rooting for this. Looking at: oilsurvey.com suggests that we are really about to hurry up and use up what little non-OPEC oil and gas there might be now, which will leave us in an interesting predicament years hence when it is time to fight WWIII, etc.. Might be a lot smarter to keep buying up their oil now and save ours for the crunch times, which is about what we have been doing up to now.