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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: jim_p who wrote (19941)	3/8/2003 12:17:36 PM
From: quehubo	Read Replies (1) of 206131

Jim_P, this is a risk I identified to in a general manner with investing in utilities. I suspect their will be more winners and losers revealing their hands over the next few quarters as a result of their exposure to NG prices. Potential exposures include NG costs, #2 oil costs, Emissions allowances, etc. I think the weather and the lack of drilling / production response over the last 3 months really caught allot of people off guard. Remember El Nino talk in early January, if drilling had picked up rapidly from January 1 and the weather had been mild since then we would be in a whole different world right now. Perhaps even if the VZ situation had not jacked up oil prices fuel switching could have started allot earlier. The difference between ~550 bcf and 900-1000 bcf in storage on April 1, will make a world of difference this Summer and next Winter. I suspect the confluence of circumstances that brought this together was not anticipated by many.

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