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Strategies & Market Trends : Bosco & Crossy's stock picks,talk area
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From: rubbersoul10/10/2005 11:16:35 PM
   of 37387
 
Goldman Sachs:
October 10, 2005
Winter energy prices to dampen holiday cheer

Surging energy prices and seasonal increases in usage could mean a long winter for US consumers. On top of sharp increases in gasoline costs that have already hit confidence, surging prices for wholesale natural gas and heating oil will make themselves felt as colder weather sets in. All told, energy costs could siphon off ½ to 1½ percentage points from annualized consumer spending in the third and fourth quarters of 2005 and the first quarter of 2006. The peak effect is likely to be late in the fourth quarter or very early in 2006. Tight energy supplies increase the economy's sensitivity to shocks on either the supply or demand side. For example, a colder-than-normal winter would magnify the impact of natural gas shortages and increase the risk of recession in 2006.
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