Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Evan Dimmer who wrote (19252)	4/16/1998 1:37:00 AM
From: Czechsinthemail	Respond to of 95453

Demand for energy in the Americas is growing fast, from a current consumption level of 25 million barrels a day of oil and a deficit of five million barrels, expected to double by 2010. At the January meeting in Caracas, Pena unsuccessfully pushed for a commitment by the 34 countries involved in the FTAA process to amend their legislation and tax policies and create instruments to facilitate the freest possible flow of energy "by the year 2000." The United States would like the energy sectors of the rest of the countries in the hemisphere to operate like its own, where private operators own all segments of the industry, the State is simply a mediator and auditor, and markets are open to trade. Such a regime favors low-cost energy, which U.S. industry needs to compete with Europe and Asia, opens fields for sales of capital and intermediate goods and pushes up the value of the shares of its oil companies, supplied with new stocks and horizons. But Latin America is building a wall along its northernmost border to fend off U.S. pressure. "Mexico is not discussing, and does not plan to discuss, its legislation on hydrocarbons from now to the year 2005," said Mexican Energy Secretary Luis Tellez. The Mexican hydrocarbon industry is nationalized and closed to foreign investment. Venezuela's has been partially opened, a route being followed by Ecuador and Brazil and already taken by Argentina and Trinidad and Tobago. Colombia, a relatively new exporter, has a mixed regime. Mexico is consuming an increasingly large proportion of the oil it produces. But while Mexico protects that key sector, Venezuela is in favor of opening its oil industry to trade, parallel to the FTAA. exchange2000.com