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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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From: loantech	9/3/2005 9:08:41 AM
	of 78419

Railroads in Limbo After Hurricane Katrina By STEVE KARNOWSKI The Associated Press Friday, September 2, 2005; 6:42 AM MINNEAPOLIS -- The grain elevators that take in corn, soybeans and wheat from Midwest farmers and the railroads that move it are waiting to see what impact Hurricane Katrina will have on them. More than half of U.S. grain exports go through New Orleans, and it remained unknown Thursday when the crippled port and its shipping terminals might reopen. That means railroads and elevators don't know whether grain that would normally go down the Mississippi River by barge will need to go elsewhere by rail or truck. Nor do they know how well the rail networks and other seaports would be able to cope with the added load. Jim Sinclair’s Commentary: Monty (mguild@guildinvestment.com) is a man whose words carry weight. He does not just talk about it - he does it. Dear Jim; I think gas prices will rise more than oil prices, based upon the gas production shortfall from hurricane Katrina. Oil may fall somewhat because of slower economies in US, Europe and Asia. Economic growth could slow by a little bit in the world due to higher oil prices. I do not see a recession in the US but I do see economic growth in the 2 1/2 % range in 2006.This is a slowdown of 1% plus from the first part of 2005. GDP growth in China might fall from 91/2 % to 7 or 8%. Natural gas prices can rise versus oil prices due to damage of the pipelines, decreases in Gulf of Mexico production, damage to processing facilities and to storage facilities. Longer term, oil falling to $55 or $60 and sitting for a while would be very good for the economy and for the oil service stocks. People would get used to the higher prices and absorb them before the next oil price rise in 2006. I am still calling for $ 100 oil in 2008. In my opinion, all of this is negative for the dollar and salutary for gold. With warmest regards, Monty jsmineset.com

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