From: Jock McCardell <[EMAIL PROTECTED]>
>If this merger is based (as claimed by the respective CEOs) on
>rationalisation of producers because of declining consumption of oil how
>does this affect the timeline on the 'tank is empty' equation?
As of Oct 22, 1998, Duncan & Youngquist see a global production
"peak" in 2006. Of course these estimates could be off a few years either
way. But that's their best estimate.
But the real reason behind the merger may the "peak" instead of prices:
----------------
HERE WE GO AGAIN: The oil surplus won't last as long as we might wish.
by James Srodes, Barrons, Oct 19, 1998
"Most news analysts got it wrong when they credited low oil prices for the
recent proposed $48 billion takeover of Amoco by British Petroleum. What's
really driving this mega-merger is an impending global oil shortage that
will have profound economic and social implications. Seen in this light, the
BP-Amoco merger makes short and long-term sense, and the light also shines
on other oil companies."
I have the rest at http://dieoff.com/page161.htm
Jay
