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Gold/Mining/Energy : Global Santa Fe (GSF) (formerly Global Marine) -- Ignore unavailable to you. Want to Upgrade?

To: Doug Skrypek who wrote (1323)	3/11/1999 2:25:00 PM
From: TimbaBear	Respond to of 2282

....." While productivity gains have been impressive over the last decade, the impact of cheap oil should not be underestimated."..... I do not believe the market is underestimating the impact of low commodity prices, including low oil......As an investor, it just becomes a question of when supply has been brought in line with demand.....Excess oil supply is being gradually reduced by drillers stacking rigs that are currently unprofitable; OPEC is attempting to adjust supply through negotiated quotas; recovery is beginning in some Asian countries which is beginning to increase demand;......these are some of the economic events which appear to be working to bring demand and supply in line with each other.....If this is so, then a bottom in pricing has been reached.....If not, then I agree, oil will continue to drop until the above factors work to bring about equilibrium.