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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 226.99-1.1%Dec 8 3:59 PM EST
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To: Glenn D. Rudolph who wrote (96115)3/12/2000 3:44:00 PM
From: Victor Lazlo  Read Replies (1) of 164684
 
IMO Bezos is just trying to deflect attention away from the obvious right now: His increasing shipping costs are becoming more and more of a problem.

"Oil Price Drops, But Worries Persist"

.... "I think we are going to be scrambling all year to get caught up worldwide," Chevron Chairman Dave O'Reilly told CNBC Wednesday. "So I feel that oil prices are going to be firm this year, and it is going to take most of the year just to get back into a normal inventory range."
O'Reilly also said he expects gasoline prices will continue to rise, but declined to predict how high they would go.

With oil production falling about 2 million barrels a day below world demand, most analysts expect to see OPEC increase production to cover between half and three-fourths of that shortfall, bringing prices back to the $25 range by year-end.

But that drop in futures prices is bad news for gasoline consumers, because there's less incentive for oil companies to build up inventories that will force prices lower, according to Frank Knuettel, an oil analyst at PaineWebber.

"When there's such a big drop over a several-month period," he said, "refiners are reluctant to buy crude today because they might be in a market where the price is lower in a few months and they're locking in a loss."

cnbc.com
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