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

To: Dwight E. Karlsen who wrote (37416)	2/12/1999 12:21:00 AM
From: VLAD	Read Replies (2) \| Respond to of 95453

So what if the big oil companies are making LESS money. They are still making money even with $12pbl oil prices. Besides, they are diversified and make money on other subsidiaries (eg chemicals) when oil prices are low. Unfortunately, Wall Street doesn't like negative growth so of course they still have to cut costs by reducing their exploration budgets and by cutting personnel.