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Gold/Mining/Energy : Anyone following UTI Energy Corp.? -- Ignore unavailable to you. Want to Upgrade?

To: John F. Poteraske who wrote (851)	6/26/1998 7:49:00 PM
From: Harold S.	Read Replies (1) \| Respond to of 1305

Glad to have you aboard. UTI will give us all a nice ride beginning very soon here. Anyone else take notice that the short interest has dropped dramatically in the last month on UTI. Most people must view this as pretty close to as low as she'll go.

To: John F. Poteraske who wrote (851)	7/2/1998 2:13:00 AM
From: John F. Poteraske	Read Replies (3) \| Respond to of 1305

Just wanted for anyone else interested in reading about the article where I said that Saudi Arabia might dump oil on the market,and the reasoning behind it. Comes from June 24, 1998 Chicago Tribune-Business Section-Article Saudis keep economy running on low oil prices. The article costs $1.95 to read the full article. I wanted to summarize- "Some oil industry analysts have argued that the only way Saudi Arabia , which possesses a quarter of the worlds proven reserves, can retain it's position as the World's no. 1 oil exporter is to open the taps and flood the market" "The thinking was that oil is going to be in demand forever, and that with a 200 year reserve, oil is more valuable to us in the ground than it is outside" said Hani Yamani, whose father, Sheik Ahmed Zaki Yamani, was Saudia Arabia's oil minister during opec's salad days." But oil is not going to be in demand for 200 years. It might be obsolete in 50 years, maybe sooner. And the reality is we are losing market share. We have 25 percent of the world's reserves but less than 12 percent of the market" Yamani and a growing number of other Saudi oil experts argue that the kingdom should double it's present production capacity of 10.5 million barrels a day and flood the world market with cheap oil. Cheap oil would fuel the growth of the already robust us economy, and could help revive the flagging asian economies. Later John