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To: nspolar who wrote (1565)	2/29/2004 1:18:36 AM
From: crustyoldprospector	Respond to of 60926

IMO the big companies are having a tough time because, as you mention, costs are rising, and also because they are too big and bureaucratic. They would rather get a 13% ROC in a huge project in Nigeria than a 20% ROC on a gas play in Colorado. But, the huge projects are getting harder to find. They are accepting projects with ever lower ROC (after risk is included). The Russians are keeping their giant reserve potential to themselves. Iraq and Iran probably have the best potential, which is why the Bush crowd is so intent on stirring up trouble there. Big Oil will shrink as their fields decline, unless they can get into Iran and Iraq. All IMVHO. Can't comment on VZ for obvious reasons. Regards, crusty

To: nspolar who wrote (1565)	2/29/2004 6:47:24 PM
From: NOW	Read Replies (1) \| Respond to of 60926

one for you: www1.eboard.com