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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Hawkmoon who wrote (29848)	3/12/1999 5:01:00 PM
From: Ironyman	Read Replies (1) \| Respond to of 116759

Ron,,,This current glut of light crude is due to technology. For the most part the horizontal wells which produce 1200 barrels a day are the culprits. The older methods would have only yielded 100 barrels in the same spot. Given the short life span due to the considerable costs of maintaining these newer wells , this glut may take a few years to cycle before things change. ......There is plenty of oil, just that for the most part it is heavy gravity crude which requires quite an effort to extract and deal with. Technology has not as of yet entered into this part of the oil market. .......Gold on the other hand has reached its bottom due to the rapid implementation of technology which had already occurred several years ago and is the accepted way of doing things. There is no overproduction of gold. There is a shortage of gold This shortage is being compounded by both inflation and deflation, because there is no new source.....The banks are dry and the mines have sold forward....? Regards, Eric Parde R

To: Hawkmoon who wrote (29848)	3/12/1999 9:29:00 PM
From: Mark Bartlett	Read Replies (2) \| Respond to of 116759

Ron, <<Someday maybe you'll understand that human psychology is the primary drive in achieving confidence in the financial system.>> I think even the biggest moron on the block realizes this .... but the problem has been, and will continue to be, those periods when that confidence is so eroded, people look for something real to protect their $$. The fact that there have been recent shocks to the system, followed by increases in the price of gold, suggests there are still some that believe something real (like gold) does have a role to play. Some may choose to rely on derivatives .... but if the system really goes bad ... these will likely be worthless. MB