Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: BigBull who wrote (92633)	7/20/2001 7:10:09 PM
From: Crimson Ghost	Read Replies (1) \| Respond to of 95453

After today's strong bounce, I think the odds are fifty-fifty that we have seen the OSX low. But even if that is true I expect the bottom area in the low 80s to be tested several times before a sustainable advance can begin.

To: BigBull who wrote (92633)	7/21/2001 9:42:45 AM
From: majaman1978	Read Replies (1) \| Respond to of 95453

And how are you so sure that Russia doesn't become a part of OPEC?

To: BigBull who wrote (92633)	7/22/2001 5:01:30 PM
From: Art Bechhoefer	Respond to of 95453

BigBull, Iraqi oil exports are restricted to allow for imports of medicine and a certain amount of food, but not for other purposes. The reason that Iraqi oil is an important factor is that Iraq has about 10 percent of the world's proven oil reserves, the second largest country. Saudi Arabia, with largest proven reserves, has about 25 percent of the total. Russia has about 5 percent of the world's proven reserves, and the U.S. has only about 2 percent. You can find more data in The Economist issue of July 21, 2001. If you're worried about which countries count, really the only significant ones are Saudi Arabia, Iraq, United Arab Emirates, Kuwait, Iran, and Venezuela. It is estimated that these six countries have reserves remaining for anywhere from 66 years (Iran) to 1004 years (Iraq). The U.S., by contrast, has enough reserves to last about 10 years, and only Britain is worse off among industrialized nations. As for the Russian/Caspian/Kazakh pipeline project, it's really just a drop in the bucket and will help mostly the European countries, not the U.S. With the recent agreement between Russia and China, it is likely that more Russian oil will go to China, which, among the larger countries of the world, currently has the highest rate of economic growth (Gross Domestic Product growing at nearly 8 percent, compared to a paltry 1.6 percent for the U.S.). If more people really understood the coming shortage of oil and gas, they would be much less reluctant to adopt energy alternatives immediately. Art