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Gold/Mining/Energy : ARAKIS: HIGH RISK OIL PLAY (AKSEF) -- Ignore unavailable to you. Want to Upgrade?

To: Pascal Morin who wrote (7593)	1/9/1998 2:06:00 PM
From: SnakeInATuxedo	Read Replies (2) \| Respond to of 9164

<<Does anyone believe that the consortium could be affected financially ?>> Only in the short term, if that. What is occurring now in Asia is eerily reminiscent of the financial panics which took place in this country on a somewhat regular basis, about every 10 years or so, back in the latter part of the 19th century and the early part of this one, as America made its transition from agrarian economy to industrial economy. As the economic centre of gravity of the world economy continues its migration to the Pacific Rim, and those counties in that part of the world learn to deal with the obligations and responsibilities that go with the privileges of being economic powers, there will be dislocations such as that which are now seeing. In an industrial economy, the free flow of a reliable source of energy at market prices is essential to growth. To right their capsised economies and rebuild their capital structure, the foundation for new economic growth will require the access to that dependable source of fairly priced energy. Thus, unless China and Malaysia have some sort of economic death-wish, they will not abandon projects such as the consortium which will provide that source of energy, and will endure such pain in other sectors as is necessary to bring such projects to fruition.