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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 (1332)	3/12/1999 12:20:00 PM
From: Robert Douglas	Read Replies (1) \| Respond to of 2282

Doug, The mechanism by which inflation increases consumption spending is simple. People buy today because they know that tomorrow the prices will be higher. This is a well-known phenomenon in economics. Drilling will continue to grow because the non-OPEC countries will never stand for letting their energy future be held hostage again. They will need to replace the production from fields that are being rapidly depleted. More drilling, not less, will be needed since the large fields have already been discovered. The new technologies of oil discovery will only mitigate this expanded need for drilling. -Robert