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Strategies & Market Trends : The Millennium Crash
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To: gregor who wrote (5530)10/19/2000 2:32:24 PM
From: yard_man  Read Replies (1) of 5676
 
Energy is in almost everything you buy, Gregor. The increase in price is not insignificant. It may be true that a large part of our energy needs still come from coal, but coal doesn't transport everything -- oil does. In addition there is much energy now that is dependent on the price of natural gas which has almost doubled from a couple of years ago. Energy is still a primary or very large secondary input to almost everything that is manufactured in our country -- you can't expect profits to not be hurt from such rapid rises in costs. Put that together with the high degree of leverage used by corporations alone and you have a prescription for a hard landing unless the energy prices ease right now ...

I am a little bit familiar with via my job, at least, what the first wave of these changes in energy costs can and will do to some very large companies locally. The picture is not a good one unless prices ease right now ...
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