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Politics : Formerly About Advanced Micro Devices
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To: bentway who wrote (270650)1/31/2006 3:45:20 AM
From: tejek  Read Replies (1) of 1586628
 
the problem isn't an artificial restriction on supply like it was back in the 1970s."

I heard an intersting bit on the radio today about this. Enron had a record profit of 36 billion last year, but their production actually FELL. Enron is trying to find and produce as much oil as possible to sell at these record prices, but they can't FIND enough!

That's right.....for many drillers the increase revenues has nothing to do with producing more oil but rather the increased price for crude. Many oil drillers that were bleeding money two years ago are making big profits now because the higher crude prices have lifted their margins. That's why much of my portfolio is in oil stocks. I bought a turnaround spec company just three weeks ago.......last year, it paid done its debt, saw increases in revenues YOY all last year and last quarter, made its first quarterly profit in 2 years. The stock was trading at $.40 when I bought it.....closed at $.81 today. I know its chump change compared to GOOG or one of the blue chips but the stocks of good oil companies are moving like you wouldn't believe.

The one I recommended to this board.......EGY....has doubled from $3 to $6 in two months! Anything decent is moving up fast.

ted
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