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Non-Tech : Lufkin Industries (Nasdaq: LUFK) -- Ignore unavailable to you. Want to Upgrade?

To: Todd D. Wiener who wrote (42)	3/22/1998 12:26:00 AM
From: Steve Hufnagle	Read Replies (1) \| Respond to of 103

Having already purchases shares of Lufkin I am interested in the effects that oil prices have on stock prices of oilfield machinery related companies. Do you know if the price of oil is considered an accurate predictor of the sales of equipment related to the production. It seems to me that the volume of oil that that the world uses on a daily and monthly basis would serve as a more accurate indicator of how much equipment (such as pumps and compressors) needs to be built and replaced.