Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Think4Yourself who wrote (71493)	8/23/2000 2:31:21 PM
From: ItsAllCyclical	Read Replies (1) of 95453

"Oil is a major concern. The average price level analysts are expecting for the rest of the year is $23 (per barrel) and the price has been consistently over $30 (per barrel) for most of the year," said Art Hogan, chief market analyst at Jefferies & Co. "It adversely affects the transportation stocks." cnnfn.cnn.com $23 for the rest of year? Were they really that stupid? I sware over 50% of the street's DD on oil prices is the mantra, "Well historically oil prices have averaged $18-20 so..." Notice the comment about high oil prices helping the Fed. Some truth to that, but it also make me laugh how they can shrug off the potential of a HUGE energy crisis in the making. Not saying it will happen, but the broad market does NOT have even the possibility of one factored in. The possibility should get more far more respect imho. A cold winter, Sadam, capacity issues within OPEC, global instability, etc, etc. Doesn't take much at these levels.

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