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Gold/Mining/Energy : An obscure ZIM in Africa traded Down Under
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To: TobagoJack who wrote (44)7/15/2002 4:59:24 AM
From: Maurice Winn  Read Replies (1) of 867
 
Jay, the long-run value of crude oil is nearer $10 a barrel than the current $24. Since Shell, BP and others own reservoirs and much of their value is in storage, a price drop to the long-run marginal cost of production means the share prices should fall [if, as seems to be the case, that people are basing the current share prices on the current crude oil prices].

I hasten to add that I haven't analyzed individual companies and their relative oil stocks compared with other income sources.

Mq
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