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To: reaper who wrote (225125)	3/4/2003 10:02:42 AM
From: yard_man	Read Replies (1) \| Respond to of 436258

>>perhaps you can explain to me why NOBODY IS FARKING DRILLING! only about 1/3 of Patterson's rigs are working right now. gas is not high because of some supply issue or because excess liquidity is speculating in gas futures; gas is high because none of the E&P companies believe the damn price is sustainable so they aren't running like mad to punch holes in the ground. and frankly, there's good reason for them to think this; on the last price spike (remember $10 gas 2 years ago, when all the inflationists last got all geared up) they directed a ton of new rigs (Patterson earned over a dollar in a single QUARTER back then) and cratered the price. << the explanation is in your post for the most part -- yeah, they got stung and don't believe the prices are sustainable now -- fade them, IMO. They were wrong two years ago and they are wrong now ... Also, you must recognize that the price of oil and gas will rise before it is apparent to you that the costs of extraction have increased ... right now for NG the theory is: sell less volumes make more $s. Collusion?? you bet, as long as someone else doesn't want in, and now they don't -- but it feeds back, you can't just flip a switch and bring the production online