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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (36668)	11/17/2004 6:41:28 PM
From: quehubo	Read Replies (1) \| Respond to of 206177

Yes but the majority of the extra oil from OPEC's maximization is heavy. #2 oil is becoming a major issue, I dont know where the hell the demand is coming from. But with the USD where it is oil prices need to be very high to attract #2 oil imports. Now we look forward to 2005 where Jim_P and the EIA are the only two voices expecting FLUSH production or an increase in production. Data indicates a steep drop off in production for several years and many quarters of very high drilling activity levels. So I guess the incremental wells to be drilled now at higher prices are the more prolific ones and the thousands of wells drilled in the last year are just flush production and not FLUSH production. Down to 10% cash, nice entry opportunity off of the EIA data with all the confusion after the data.

To: russwinter who wrote (36668)	12/3/2004 8:05:29 AM
From: Ed Ajootian	Read Replies (2) \| Respond to of 206177

Russ, great post, I believe next week's OPEC meeting results will be a huge clue regarding whether OPEC really has been straining their production capabilities or not. If OPEC agrees to reduce production quotas or to further enforce present quotas, this IMO would be tantamount to admitting that they really have been producing at surge capacity. If OPEC does not make any changes, this would be a clue that they have not been producing at surge capacity, and that they are comfortable maintaining production at current levels even in spite of the recently lowered oil prices.