Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: gmccon who wrote (33106)	12/18/1998 11:15:00 AM
From: Captain James T. Kirk	Respond to of 95453

Friday December 18, 3:40 am Eastern Time FOCUS-Oil in Asia marks time after 11-pct slump (Updates prices, adds regional price of gas oil) SINGAPORE, Dec 18 (Reuters) - Oil markets in Asia were largely marking time on Friday after an 11-percent crash in prices overnight as no threat emerged to tighten supply. Iraq crude exports are still flowing after two rounds of U.S. and British bombing, allaying fears the raids might cut off Iraq's 1.8 million barrels per day (bpd) in exports. And a meeting in Madrid of three key oil producers failed to produce a promise to cut output further, disappointing oil markets. Overnight, New York Mercantile Exchange (NYMEX) January crude futures slumped $1.35 per barrel to $11.03. But by 0740 GMT, the January contract had regained four cents to $11.07 on the after-hours ACCESS trading system. North Sea Brent February futures dropped $1.27 per barrel to $10.09 in London overnight. Brent was untraded on the Singapore International Monetary Exchange (SIMEX) on Friday. February Brent was quoted however at $10.14/$10.20 per barrel. The overnight price slump brought both markets back close to 12-year lows and maintained the misery for beleaguered oil producers. Prices of regional oil products slumped in Asia, tracking the overnight falls. Singapore gas oil swaps, a hedging instrument traded over-the-counter, fell to $12.95 per barrel by midafternoon on Friday, down from $13.55 on Thursday. A meeting on Thursday of the oil ministers of OPEC members Saudi Arabia and Venezuela, and non-OPEC Mexico, urged oil producers to ''strictly comply'' with existing agreements to cut back on production. But the meeting did not offer fresh initiatives to reduce stocks, stamping on any market expectations the meeting would prompt a tightening in world demand and supply. With Iraq exports seen safe for the time being and oil producers appearing no closer to cutting supply, oil traders said the focus was back on gl

To: gmccon who wrote (33106)	12/18/1998 11:28:00 AM
From: Donaldm	Read Replies (1) \| Respond to of 95453

<<Is it your position that this is money well spent? >> Yes! As a former B-52 Aircraft Commander, I am well aware of the high costs and support necessary to maintain these aircraft. As far as the cruise missiles, since day one, no way are we launching 2 - 3 hundred of them a day. Its getting to be iron/smart bomb time now. If I am not mistaken, during Desert Storm there were over 400,000 troops to support, compare that with the 25,000 we have over there at this time. I think your guesstimate of 1 billion/day is a bit high.