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

To: pwrmstr who wrote (7576)	1/11/1998 7:47:00 PM
From: Broken_Clock	Respond to of 95453

pwrmstr, I am a bull on this sector for many reasons(even tho the market has reashed my account lately!). 1.Oil companies aren't stupid. They are owned(controlled a better word?) by the richest people in the world.Gates is small potatoes compared to Rockefeller, et. al.(do you really think Rocky lets his true net worth be listed in Money Mag.?). These guys buy countries when they feel like it. They are picking up the entire economy of S. Korea for 10 cents on the dollar or less right now thru Citibank, et. al.Now can anyone tell me why someone like Rocky would abandon oil as a commodity to make money with? Not gonna happen until there's no more oil in the ground.I posted links the other day(and there are tons of them out there besides the ones I posted) that show oil as a finite resource. As the population of the world increases, the people MUST have oil in the type of economies that are in place in the world today. These predictions of "declining " demand remind me of the old politicians claims that "inflation is under control".As the population increases, oil demand increases.As current reserves tap out, the scramble to replace them will intensify.Period. Tell me one common product you now buy that is cheaper than it was 10 years ago or 20 years ago.Right now the USA is pumping Billions into the money supply weekly(I believe it is all time high).Japan is doing the same. That is inflation.Relative to the dollar, oil will become nore expensive, not cheaper. Interesting sidelight. During the 30's depression, the oil exploration business was booming. Dave

To: pwrmstr who wrote (7576)	1/11/1998 9:58:00 PM
From: Tulvio Durand	Respond to of 95453

Thanks for your insightful post. But do we have to wait until summer to see a reversal in this sector. If so. I and a lot of others long in this sector will have flown the coop by then. Like you my patience in JMAR was tested once too many times and I recently completed my sell of all shares. I asked to visit JMAR's SD facilities and was dissuaded by CFO (Valentine). I lost confidence in JMAR's long term prospects and decided my resources were better invested elsewhere. Yes, am still very long in CSCO. Tulvio