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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: ild who wrote (14924)6/4/2004 11:16:11 AM
From: Wyätt Gwyön  Read Replies (1) of 110194
 
i think it means their current cutoff is $18. so they may raise it from 18 to 22 or whatever. it is natural for this cutoff to be more conservative than, say, whatever a stock analyst estimates oil will average over the next year. if NHK assumes too high a cutoff and makes an investment based on that assumption, they will be stuck with an unprofitable facility.

i have read about a lot of projects that are supposedly profitable at, e.g., $25, but don't get greenlighted because the backers are not confident enough of the long-term price.

PS. long NHK
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