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

To: Braddock Bull who wrote (32332)	12/1/1998 11:25:00 PM
From: TRINDY	Read Replies (4) \| Respond to of 95453

Looking at '99, I think we have a lot of uncertainty ahead of us. Take the Exxon-Mobil merger. My sources tell me that Exxon is going to swallow Mobil whole with very little of the present administrative and operations structure intact. 12,000 jobs will be lost. And what is this in response to? I believe it is in response to an overall view that oil will continue being priced at these low levels on a more or less permanent basis, or at least what passes for permanency these days. OPEC is collapsing. The Saudi's are getting ready to dish out some tough love. They will get real aggressive in market share, opening the spigots, inviting in the seven sisters (now 5 and falling) to develop their reserves even further. Markets will be flooded with supply and prices will collapse to unimaginably low levels. It all will not end until Venezuela and North Sea producers are on their knees begging for relief. US production will have already succumbed. Who needs new drilling in this environment? No one. Never forget TRINDY's law: "No matter how bad it is, it can always be worse." As an investor in the OSX sector (having started out as a trader), I only hope I am wrong. Please give me reason to believe in the OSX sector. Hope lost, all is lost and I'm just about there.