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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Razorbak who wrote (82822)12/27/2000 11:42:40 AM
From: Tommaso  Read Replies (1) of 95453
 
I don't feel or sense any euphoria on this thread over the rise of energy prices. Indeed, there seems to me a surprising amount of skepticicsm. I think there are several reasons for this: (1) The experience of persistent low NG prices and dirt-cheap oil prices only two years ago; (2) The failure of anyone in any position of authority--government, finacial community, even the press--to perceive the gravity of the emerging shortages; (3) The recent experiences with financial mania and the memory of something like the silver mania (rather distant now).

JQP has listed a number of ways that NG demand can be eased, but all those persons and companies would really like to have the gas. I suppose that by price pressures and jawboning residentical consumption could be cut by 10%. I am sitting here on a very cold day in a greatly overheated office space myself.

But it is very hard to imagine that gas prices can collapse the way that stock prices can, until there is more supply. You cannot just print gas.
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