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Gold/Mining/Energy : Canadian REITS, Trusts & Dividend Stocks

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To: Cogito Ergo Sum who wrote (976)	5/8/2001 4:03:26 PM
From: stan_hughes	Read Replies (1) of 11633

Kastel - If you mean to suggest that the NA gas balance will be restored with a couple of weeks of higher builds, I beg to differ. It would only serve to diminish the immediate crisis. Once the warmer weather arrives in earnest, normal drawdowns coupled with an inability for hydroelectric to take up the slack (because of a lack of water) will be steering us back inside the same box (if not worse) as we enter next winter. It's true that higher prices brought some supply out of the woodwork. However, now that whatever was easily put on stream has been thrown into that void, it becomes harder and more costly to maintain the build. Add to that the fact that a lot of the addition was flush production which will decline quickly. If oil stays in the mid twenties, which seems likely, there won't be much switching fuels. Put it all together and things suddenly aren't really as they might otherwise appear. IMO we still have at least an intermediate if not long term supply problem. I concede that a major economic collapse in the west would impact NG, but if that happens, nothing will escape and it won't matter where you invested your money because all stocks will be toast. I don't subscribe to the depression scenario. If investors get spooked and the NG stocks come off here because of a few weeks of bearish numbers, consider it manna from heaven because IMO you will be looking at a buying opportunity of historic proportions. Do with it what you will. I know what I plan on doing. I guess these differences of opinion in interpreting the figures is what makes a market. BTW if you are looking for large hedges on the trust side, look at PWI.

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