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Technology Stocks : Discuss Year 2000 Issues

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To: flatsville who wrote (8397)	8/25/1999 8:04:00 PM
From: C.K. Houston	Read Replies (2) of 9818

<.Right now I'm just waiting to get a look a the new iec Aug. '99 working paper.> OFF TOPIC: but we have been talking about oil & natural gas, haven't we? HOUSTON, Aug. 25 (Bloomberg) -- Lyondell Chemical Co., Dow Chemical Co., Union Carbide Corp., Millennium Chemicals Inc. and other chemical makers are contending with unexpectedly high raw- material costs that will squeeze their second-half profits. Prices have soared as much as 80 percent for chemicals derived from oil or natural gas, such as naphtha and ethane, which go into basic chemicals used in everything from plastic toys to antifreeze. Oil is more expensive after producer nations cut their output. And demand pushed up the price of natural gas, as utilities burned more to make electricity for the air conditioning needed during an unusually hot summer across much of the U.S. ``Costs for feedstocks like ethane have been going up even more than oil and natural-gas prices,' said Paul Leming, an analyst at ING Barings. Analysts are starting to slash earnings estimates for the chemical companies -- in some cases by more than half ... quote.bloomberg.com Hate to think what prices are gonna be by year-end. Cheryl 128 days until 2000 76 Federal work days ...

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