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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: james paterson who wrote (2914)	11/13/1997 1:33:00 PM
From: chirodoc	Read Replies (1) \| Respond to of 95453

<<<<< weakness in the emerging (now submerging) mkts. ........maybe ........but drillers are @ 100% right now. any decrease would be minor from what i read. .........right now the big sell-off is due to our friend saadam hussein. .........an international war in the mid-east, added to the slowness in aisa could be disastrous. .........personally i am going to bottom fish and buy a bit more drillers. .......if mid-east gets worse i will probably buy a whole lot more. ......and i agree with you, recession would hurt oils--but i am more worried about a depression. recession in brazil, HK, and ASEAN nations might not affect China, Canada, U.S., Europe, etc.

To: james paterson who wrote (2914)	11/13/1997 1:40:00 PM
From: megazoo	Respond to of 95453

< My main concern is that the funds & institutions may be projecting lower demand for crude because of weakness in the emerging (now submerging) mkts> although i have to agree with your view, i am hoping that china doesn't start to devalue their yuan. in asia, until now, the need for oil in china and india is tremendous, and the demand is significant enough to equalize the lower demand for oil for the tigers, if that assumption holds. but if one morning, both these countries come out and talk about devalueing their currencies and tell the world that their growth was based on borrowed money, then we are majorly screwed.