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

To: elmatador who wrote (94696)	12/15/2007 11:14:50 AM
From: Maurice Winn	Read Replies (1) \| Respond to of 206121

There's no shortage of oil. I can buy all I like. <Might the recent shortage of new oil on the market have something to do with bans on offshore drilling, as in the U.S.? > But if they mean the high price of oil, the high price of oil is because it was cheap in 1999 and so nobody was keen on exploration and production where wells might cost $20 a barrel to produce. There is a lag between deciding to find oil and actually refining it. It's a years-long lag. Hence the high price and enthusiasm in the last few years for all sorts of wacky energy schemes. Mqurice