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

To: sand wedge who wrote (24464)	6/20/1998 8:10:00 PM
From: Amelia Carhartt	Read Replies (3) \| Respond to of 95453

Good news. Bad news. Good news: If the current price depression causes platform construction and well exploration to stop. The long term prospects for this industry are to the moon. In a couple of years, when Asia reawakens, along with half a planet of populations entering the industrialized world, energy demand goes through the roof. At the same time, guess what? Not enough capacity. Day rates rocket. It may well be that this current crisis is ultimately heaven sent. From a consumer point of view this could be the worst of all possible times for this low price situation to have happened. The convergence of ballooning demand and diminished capacity could be a real eye popper. It may come to pass that only the people brave enough to invest in the industry today will be able to afford a gallon of gas tomorrow. Bad news: This investment is going to require a bit (more likely quite a bit) more time than many of us had thought to pay off. More good news: If the US gets a major market correction, which is a pretty decent bet, these stocks will be making a comeback long before the rest of wall street. Although, it may not look or feel like it, right now, these stocks could be your safest harbor. I may be full of horse feathers but I don't think so.