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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: SliderOnTheBlack who wrote (58882)1/21/2000 6:27:00 PM
From: Roebear  Read Replies (2) of 95453
 
Slider,
Word on the street from the SUV crowd is non interest on this point.
Gas prices jumped .09 this week in our area and the only discussion I have heard is where the cheapest gas is. With their payments at 400 to 600 dollars and extra buck and a half (12k miles a year/14mpg) each week at the pump doesn't make much of an impression.

When I explain to folks that $30 a barrel oil now is less than $7 in the 70's and roughly (this one is a guess if anyone wants to figure it) $17-18 in 1990 considering inflation, then $30 a barrel isn't so bad, they tend to agree. Especially when I mention the cost of getting new oil and the fact that most companies need $15-17 just to turn a profit. The spin doctors will have a harder time selling this to the wealth effect jaded public than they did in the 70's or 80's!

BTW, The NAO moved back to the zero line early this AM but has now backed off to negative -.1 (negative is good!), my figures are probably conservative and skewed a bit to the positive side. Haven't had time to check my weather sites today but the forecast is for ZERO degrees tonight here in PA with wind chill -10 to -30.

Wealth effect turn the thermostat up attitudes in hand, we should be looking good going into API's next week, what do you think?

Best Regards and holding/adding UFAB,

Roebear
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