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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Maurice Winn who wrote (57522)12/23/2004 12:50:18 PM
From: Raymond Duray  Read Replies (1) of 74559
 
Mq,

Re: We'll just have to agree to agree that photovoltaics aren't much of an option at present

Agreed.

***
Re: At $40 a barrel,

Late October, $55.67 peak. Late November, $40.25 momentary correction. Today ~$44.00.

2003 marked the first year in a quarter of a century that England is once again a net importer of oil.

We can and we will disagree about WTI, light sweet crude, ever falling below $40/bbl except for extremely brief periods of demand collapse.

Recent Arctic air masses rolling over the Eastern U.S. will assure us that the inventory builds of October and November are a thing of the past. December drained the tanks. January and February will drain the pocketbooks of householders in our colder climes.

Similarly, North American natural gas is now normalized at about $6.00/mcf. For most of the 1990s, nat gas averaged $2.00/mcf.

The days of cheap energy are behind us.

The days of planning for the future don't ever seem to come for a troglodyte like George Bush and his merry band of Natty Neanderthals.
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