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

To: ron peterson who wrote (27634)	8/13/1998 11:49:00 AM
From: Mike from La.	Read Replies (2) \| Respond to of 95453

Is the Saudi thing some kind of joke? Not real? Why aren't stocks reacting favorably? Something else to keep an eye on is that the Russian oil industry is on the verge of collapse. They have continued to pump, although losing huge amounts of money. Much of their production is from marginal wells which they couldn't shut because of the political problems with laying off workers. But they haven't been paying the workers, who are threatening a nationwide strike if they aren't paid. No money to pay them. Not much likelihood of international oil companies pouring investment money in. There are a lot of factors that can cause the swing to higher crude prices to be much more powerful than projected, once the supply demand imbalance is corrected. Mike