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

To: Jack Be Quick who wrote (93238)	8/8/2001 10:06:49 AM
From: Art Bechhoefer	Respond to of 95453

John, the news item you cited is quite typical of what Unocal has been reporting over the last couple of years. Most of the new wells are not big producers, but in their quiet way, they build up reserves at a cost that can easily be recovered with crude prices remaining in the $25-$30 range. What I've been looking for but not finding is data on royalties from the reformulated gasoline being sold in many states in order to meet lower pollution requirements. There is a question in my mind on whether the RFG will remain the most competitive choice in view of the continuing subsidies on the production of ethanol, which also has some of the low emission characteristics of RFG. Art