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

To: Jamey who wrote (28261)	8/25/1998 12:38:00 AM
From: TulipMania	Read Replies (1) \| Respond to of 95453

Santiago, Richardson is getting off to a good start. I hope he succeeds in his goal of increased development of US domestic energy resources and a lessening of our dependence on foreign resources. I hope he also focuses on alternate (non-petroleum) energy sources, intelligent consumption, and a long-term energy strategy. To put the 28 million barrel SPR purchase into context, we burn 18 million barrels each and every day. It is hardly a radical proposal. Mike

To: Jamey who wrote (28261)	8/25/1998 7:10:00 AM
From: Badfinger	Read Replies (1) \| Respond to of 95453

I would welcome more of this type of thinking coming out of Washington however we must all realize that it will take some very dramatic action on the part of the law makers to reverse the current trend of energy dependence. It has taken years of high operating costs, poor discovery rates, and a frustrating political environment for US oil operators to greatly reduce and in some cases give up exploration activities in the US. This has been the result of low prices, difficult environmental constraints which makes operational costs higher, and some unfavorable tax laws. To change the current trend in US energy dependence our Government would need to do at least the following: Immediately open ANWR-American National Wildlife Reserve in Alaska. Immdiately open up all offshore areas of the US to drilling, California, Florida, East Coast, Rocky Mtns, all of it. Many of the above areas are now considered "Sanctuaries". (Funny isn't it, these sanctuaries contain most of the large fields left in the US.) Create some serious tax incentives to explore in the US and offshore to help offset low oil prices. I hope this happens but, realistically! We will have to be at war with the Middle East for these things to happen in our life time. We Americans like ducks to much.