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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: marc chatman who wrote (53042)10/15/1999 9:50:00 AM
From: Think4Yourself  Read Replies (2) of 95453
 
I disagree this time. A few months ago when all the economists were saying that oil prices were not going to cause inflation I wrote here that I thought they were full of crap. There is simply no way that a doubling in energy prices can have no impact on inflation.

Now this morning we have strong increases in the PPI numbers. It HAS to be energy prices causing it because nothing else has really gone up much in prices (technology gets better AND cheaper every year). The inflationary effects of energy prices have overwhelmed the deflationary effects of technology.

This could be VERY good for this sector. Funds are going to be looking for safe places to park cash. What better place than the companie's who are benefitting from the doubling in energy prices?? Earnings starting to come out will be raising a big flag saying "here I am, and I'm dirt cheap!!". The story is EnP's, it has been for months, and it could be for the next six months.
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