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

To: Douglas V. Fant who wrote (38103)	2/24/1999 11:35:00 AM
From: Mike from La.	Read Replies (2) \| Respond to of 95453

Doug, We may be into general politics, which is beyond this thread. Sticking to the administrations's policy on "saving the oil industry" I'm just saying not to look for anything spectacular from the administration, there just is no reason for Clinton to make this a big deal. There may be some kind of minor relief, but the buys for the SPR is the bulk of what the administration can do without Congress, and Congress has already shot down action in this area. The SPR buy is from the Gulf wells, which helps protect the Federal Government's interests there, but not much for the States or the industry as a whole. Except for the removal of 100,000 barrels per day from the market. Clinton is not going to go to the mat on this one, because there is no reason for him to do so. If more rescue packages are going to come, it has to be from Congress, or the individual States. Tex and Okla are moving on their own, though I don't know how effective they will really be. Mike