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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Michael Sphar who wrote (17338)	4/26/1998 1:02:00 PM
From: robert b furman	Respond to of 94695

American technology has been exported globally where oil drilling can have a maximum return on investment.It is no longer " I think we should pop a hole here and hope for a gusher.Opec's greed in driving up oils price by controlling output ironically insured the demise of their hold on production. Anyone who tells you there is a oil shortage in the future as a consequence to opec cutting production just plain doesn't know the size or scope of huge multi-billion dollar projects that take 5-7 years to get onstream.The North Sea is a classic example. The islands north of Japan controlled by Russia are being developed by Exxon and Marathon- venezuela - Desserts of northern africa. All of these areas are supporting tremendous drilling equipment manufacturing activity here in the houston economy.