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Strategies & Market Trends : Bosco & Crossy's stock picks,talk area

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From: allevett	9/11/2005 4:30:47 PM
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by Phil Flynn The Energy Report for Thursday, September 8, 2005 Are high gasoline prices finally going to slow demand? Well, anyone who is a loyal reader of The Energy Report knows I've been a very accurate judge of gasoline demand. I have a deep, dark secret that has enabled me to be so accurate when it comes to gauging demand for gas. And today is the big day I let you, my readers, in on my secret! I commute by rail. Yep. That's the secret. I take Metra on my morning and evening commute. In and out of Chicago every single day. Much to my consternation I'm having great difficulty getting my unofficial official seat! There are unwritten laws every train commuter is fully aware of. The Johnnies-Come-Lately don't have a clue. The Johnnies-Come-Lately saying this rally in energy is demand driven and therefore a good sign that we have a strong economy are just getting a clue after I've been saying this for years! I digress. Make no doubt about it the trains are definitely more crowded than usual and the parking lots are full to capacity. Yes, school has started and I do see the students. I also see a lot of white collar workers headed into the city. And in all honesty, when gas heads above $2.00 per gallon I do see more riders. Now that we're above $3.00 per gallon, there's many more riders. Which is fine of course but they must learn the un-written train rules and stay out of my unofficial official seat! In the short run $3.00 a gallon has hurt demand. In the long run prices will fall and then demand will once again be on the rise. Yesterday the International Energy Agency cut demand estimates for oil and in the short term I do agree with them. High prices and lack of demand from down South will slow demand. But in my always humble opinion, on this matter, they are just flat out wrong when they forecast a slowing of demand into 2006. I expect expanding energy demand as the expanding economy continues in 2006. Then my train world will once again be normal.

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