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

To: Crimson Ghost who wrote (39143)	3/7/1999 1:20:00 PM
From: Ahmed Elneweihi	Read Replies (1) \| Respond to of 95453

I think the Saudis and other ME countries can expand their extra capacity by developing new fields. So in theory, they all together can satisfy world demand at $5 oil and still make money while the rest of world oil producers are out of the game. By the time they are about to finish their reserves, oil demand may be way down because of new alternatives. In my opinion, this is a crazy scenario and will never happen. The US secretary of energy in his last visit approached the Saudis to allow more expansion of their production capacity but they refused. They said they only want to expand their gas production to provide the fuel for massive new electric generation projects.