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Strategies & Market Trends : The Stock Market Bubble -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (769)	7/25/1998 2:28:00 PM
From: James F. Hopkins	Read Replies (1) \| Respond to of 3339

Les; I'm just a simple Capt that has worked in the offshore oil fields since the 60s. I have seen two major oil shortages that were not real just contrived and shoved down the publics throat to get oil prices up. After both of them we had serious problems and major unemployment. I read the article, and it's so far out of touch with reality it's hard for me to explain it. Where he got his information is beyond me..looks like he wanted to make a point to start with, and grabbed some particular extreme statistics that would support his point, but left out the real meat. ----------------------------------- I don't know what to say except it's more BS than fact, I'm not very articulate so to argue with it is more of a job than I want to get into. It does hold some truth , but if person who hasn't followed the course of events around oil, reads this he won't know the truth from the fiction. I guess most people see what they want to anyway, and it looks like journalist just write any kind of crap they want to. I could punch holes in it , but what good would that do. When I first came on SI in 96 I was telling people to buy oil stocks, I was long on them before that. I took a good look as oil prices dropped and Asia went down and was saying sell oil stocks in late 97..I was a little early but ahead of the curve. ---------------------- Let us hope and pray that oil prices stay down , or you will see the unemployment lines come back sooner than you want to. High oil at this time will finish off Asia, and damm near cripple us. That's a fact. Oil is priced into every thing you buy, one way or another it permeates into the cost of every thing. OPECs price fixing at the urge of some multinational companies should be looked on as an atrocity and crime against humanity. Same as all those loaded tankers sitting on anchor offshore for as far as the eye could see, when big oil fabricated an oil shortage story, and the news media never had sense enough or gumption enough to look beyond the end of their nose. -------------------- Last thanks to new technology we can find, drill , and recover oil now cheaper than ever before, the recent high prices of oil last year and in 96 was nothing but price gouging , and they got away with it. It also baited people into re-working a lot of depleated and marginal oil wells that recovery cost is high on..but that was stupid to start with. ----------------- Jim