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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 (45255)	5/21/1999 4:43:00 PM
From: upanddown	Read Replies (1) \| Respond to of 95453

''as time passes by, we believe more firmly than ever that the next decade will be the decade of persian gulf oil,'' dresdner kleinwort benson said in its latest world oil report. Logical conclusion, George. Domestic production is declining close to 10% annually. We are currently importing 60% of our crude and will most likely NEVER be under 50% again. North Sea production is also starting to decline. Where is the cheap oil ? Reports of the demise of OPEC may be a bit premature. John