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

To: rocklobster who wrote (23024)	5/29/1998 6:35:00 AM
From: Bobby Yellin	Respond to of 95453

don't think so.. think US is going to try to be more energy independent with all the unrest in the rest of the world.. more drilling.. this past year with Asian meltdown and very mild winter..the oil prices didn't have a chance.. with possibly hot summer and cold winter..one might see interesting reversal.. with possible growing unrest in former Russia which is so dependent on selling oil..possibly less supply will get to market.. with possible growing unrest again in Indonesia..less supply.. just guessing

To: rocklobster who wrote (23024)	5/29/1998 8:19:00 AM
From: marc chatman	Read Replies (1) \| Respond to of 95453

<<Add to that the fact that technology has made it vastly cheaper and easier to get oil out of the ground>> Absolutely. But this would mean that oil production becomes more profitable at lower prices, which in turn means that producers will continue to drill. As for the internet creating a paradigm shift in demand for oil products, perhaps, but I doubt it. Look at some other revolutionary tools of communication -- telephones, faxes. Did these create a decrease in the demand for gasoline? What about the television, vcr's and pay-per-view -- we don't have to leave our homes for entertainment. Did that create a decrease in demand for gas? Is the internet so different? I wouldn't be surprised to see oil prices remain at low levels, but I think that will be more a supply side issue. There are many new players now trying to suck oil out of the ground, and it's the new technology which makes that possible.