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Strategies & Market Trends : MDA - Market Direction Analysis

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Nov 14 4:00 PM EST

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To: Haim R. Branisteanu who wrote (68121)	1/31/2001 1:02:59 PM
From: Crimson Ghost	Read Replies (1) of 99985

Haim: A very wise energy analyst who posts on the oil services thread said the following in 1999 when oil prices were in the low teens. "$10 oil today guarantees $25+ oil a year or two down the pike." The fact is that gross underinvestment in oil and gas expoloration and production for the past decade made this oil price hike unavoidable. Oil prices still are much cheaper in real terms than during the late 1970s. Note that gas has gone up more than oil even though there is no OPEC limiting output there. Your bias against the energy industry is quite obvious and misplaced in my judgement.

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