Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: TobagoJack who wrote (990)	11/27/2000 2:24:28 PM
From: Tommaso	Read Replies (1) of 74559

What do you think of oil producers as defensive stocks? I own numerous plays in oil and natural gas. Most recently I have been buying calls on OXY, Occidental Petroleum, because their P/E is below 5 and --among other things-- in 1998 they bought the United States petroleum reserve properties at Elk Hills, California, from which they can deliver natural gas directly into the Californis market. In that energy-starved state, natural gas is being quoted at over $17 as opposed to about $6.50 elsewhere. OXY's next earnings report--and earnings are already healthy--could show an even bigger jump. Here are some relevant URLs: piwpubs.com oxy.com oxy.com messages.yahoo.com

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