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

To: Big Dog who wrote (5455)	12/16/1997 10:03:00 PM
From: tyc	Respond to of 95453

Tuesday December 16, 2:59 pm Eastern Time Company Press Release SOURCE: Fuels for the Future U.S. Oil Imports to Continue Rising; New Study Sees Level of 66 Percent of U.S. Demand in 2020 WASHINGTON, Dec. 16 /PRNewswire/ -- Oil imports are expected to increase to 66 percent of U.S. oil consumption by the year 2020, according to new estimates by the U.S. Department of Energy. In a report entitled ''Annual Energy Outlook 1998,'' scheduled to be made public this week, the department's Energy Information Administration projects the average world price of crude oil to rise from $20.48 in 1996 to $22.32 a barrel in the year 2020. The forecast of a 66 percent level of oil imports is a sharp increase over the average of 46 percent in 1996, the last year for which final import figures are available. Earlier this year, imported oil amounted to more than 55 percent of U.S. demand during summer months. The new forecast of rising oil imports continues a steady increase since the oil crisis of 1973, when oil imports were only 36 percent of U.S. consumption. The Energy Department attributes the predicted increase in oil imports to higher domestic consumption and to declining domestic production. Crude oil production in the U.S. will continue to fall from 6.5 million barrels a day in 1996 to an estimated 4.9 million barrels a day in the year 2020, according to the study. Oil imports in August reached 10,324,000 barrels a day, compared to 9,986,000 barrels a day in August, 1996. Persian Gulf imports were 17.2 percent of total imports in August, compared to 15.5 percent a year ago. SOURCE: Fuels for the Future

To: Big Dog who wrote (5455)	12/16/1997 10:08:00 PM
From: Thean	Read Replies (1) \| Respond to of 95453

Any RB investors here? Would someone give RB a call about the lower than market dayrate and what are some details that don't get announced in the news?