Posted by: escott on June 11, 19103 at 18:47:20 In Reply to: oil service breakout (52 week highs) posted by escott on June 11, 19103 at 14:35:21

Ok, last week's much colder than recent years winter was not exactly a "political" factor behind the present natural gas conundrum....

Then again, you could say oil and drilling companies got lulled to sleep in previous years not doing enough new drilling because they bought into the politically-correct extremist verions of global warming, etc.... Then too, we have the chronic "NIMBY" problem all around America's coastlines - preventing opening of significant new "offshore" gas exploration fields. (e.g., Florida, California, Alaska, Joisey, -- even Wyoming.... *vbg)

And yes, there's the classic corporate welfare mindset that has taken over big oil (not the wildcatters, but the big lumbering Exxon's, et. al.) and their financiers.... the one that wants government subsidies, taxbreaks, and even guarantees/insurance before they'll risk their billions on crash course drilling in increasingly marginal fields....

Oh, and did ya catch one of Alan Greenspan's preferred medium term solutions for natural gas crisis? LNG - as in liquified imports of the stuff.... (aka "propane")

But guess where the world's greatest concentrations of that stuff are to be found.... Yeap, the world's most promising gas fields (and easiest to develop) are found in the Persian Gulf - specifically Qatar and Iran -- and to a lesser extent UAE & Saudi Arabia.... Not exactly easy political pickin's.... (unless of course you only watch Fox News....)

Say, did ya hear that Iraq will be exporting oil again someday? Three months after liberation.... and we're still not sure.... Cheney's neocon prophecies about doubling Iraq's pre-war export capacity by Christmas now look .... well, not unlike the prophecies about WMD and all that.... And so it goes....

So will .osx keep going? Don't know short term.... But I'm in no term to unload....

Tonight's .soxx news appears promising - and maybe that'll siphon off some of the .osx mo-mo $$$....

cheerio....

es

Read the Follow Ups: typo.... escott 19:01:24 6/11/103 (5) Re: LPN David F. 07:53:40 6/12/103 (2) Re: my typos... David F. 08:25:07 6/12/103 (1) ugly sell-off for .osx escott 11:00:18 6/16/103 (0) Alaskan Oil & Gas Mikey 22:38:37 6/11/103 (1) Canadian Oil Sands Mikey 09:34:35 6/21/103 (0)

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