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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: Douglas V. Fant who wrote (2971)	10/17/2001 9:46:36 PM
From: Art Bechhoefer	Read Replies (2) \| Respond to of 36161

Regarding Leeb on oil service stocks, the only way we could possibly achieve energy independence would be to adopt energy alternatives. Since none of these, whether solar photovoltaic, wind, or even nuclear is as cheap as oil and gas, I doubt that we are anywhere near achieving energy independence, and certainly not just by searching for more oil and gas. The long term prospects for oil and gas are summed up as follows: Growth in demand exceeds increases in proven reserves. Thus, energy costs will rise. Might hapen in one or two years, or five or ten, but it WILL happen. In the meantime, I wouldn't buy oil service stocks because of any purported impact on energy independence. Art