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

To: Teddy who wrote (10953)	2/7/1998 5:51:00 PM
From: Lee Fredrickson	Read Replies (2) \| Respond to of 95453

Teddy: My, you seem full of vinegar today! I can't speak for Paul, (he seems to do a good job of that without my help) but I can remember some damn fine historical precedent for his oversupply feelings. Poke around the industry hands on this thread, and you'll get some insight into what too many rigs, and E & P companies' cutthroat dayrate offers of the early 80's did to our favorites, the drillers. Wasn't pretty. Given the time it takes to get a slot in a shipyard's schedule these days, plus the time it takes to actually weld all the chunks together, etc, I don't think P. meant that the bottom's going to fall out of this sector tomorrow...more like it's happened in the past, let's keep our eyes peeled. <...would you please take a bite out of Paul's leg?> Time may teach you (you're 14, right?) that you're much better served fighting your own fights. Good Luck. Incidentally, I read and appreciate your posts, too. Thanks for their usually good-spirited contributions. Lee