Global Santa Fe (GSF) (formerly Global Marine) Message Board

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Gold/Mining/Energy : Global Santa Fe (GSF) (formerly Global Marine)

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To: Robert Douglas who wrote (1336)	3/12/1999 1:16:00 PM
From: Doug Skrypek	of 2282

Robert, I agree that more drilling will be needed. I disagree with the inflation/consumption argument as it relates to oil prices affecting consumers purchasing decisions. There has been close to zero real inflation in the US (thanks in part to low energy prices), yet housing prices, salaries, automobile prices have all risen. Now that oil prices are rising, will we see a mad rush to buy houses, cars, etc? I really doubt it...We have asset inflation, fueled by a very hot stock market-which has driven the prices of the above mentioned items higher. When the stock market falls, the price of those items will fall. Thats the economic phenomenon.

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