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

To: JungleInvestor who wrote (40314)	3/18/1999 12:23:00 PM
From: Big Dog	Respond to of 95453

Interesting point re depletion and cuts. Matt Simmons told me yesterday that it is easy for some of these cuts to be agreed to because it is only an illusion that the production capacity exists in the first place. He also says Iraq is the culprit behind this whole low oil price affair ("punishing" US and Saudi) and that Iraq is destoying their reserves (from a geological resevoir basis) by pumping full blast. The message is that there has been a significant reduction in production capacity...couple that with depletion and you got SliderHeaven. (No news there for this savvy group.) big loosbrock.com