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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (29406)	7/5/1998 12:20:00 AM
From: James F. Hopkins	Read Replies (1) \| Respond to of 132070

Mike; I'm some worried about the service sector in the oil field because of the cheap oil prices and talks of cut backs in production. Any thing in this sector could drop more. If there is a bargain, or at least a long term hold it's TDW They dominate world wide and hands down in the offshore boat leasing. I'm not saying they wont fall more , but if the sector goes to hellinahandbasket, TDW will survive to come back. Remember this is a very cyclical business, and pron to have lean times that can last for several years. I think they still have contrasts at good rates going forward for the next 6 months some to a year. But if oil prices stay down as the contracts expire you can bet the next set of day rates will be a lot cheaper. After that how long it takes to work itself into the earning reports I don't know. If they get oil prices back up this sector will go when every thing else crashes. Hoping for higher oil prices is like we want to shoot ourselves in the foot for most of the country. The cost of high oil will bring on inflation faster than anything I know of, thus higher interest rates, thus a drop in most stock prices. republic.net