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Gold/Mining/Energy : Oil and Gas Prices
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To: Gottfried who wrote (1)10/8/1997 3:28:00 PM
From: Tommaso   of 82
 
Thanks very much for the links.

I am trying to understand better than I do what moves oil prices. For example, there seemed to be enough new production coming on line to keep prices steady --and then we had a rise of several dollars a barrel.

I don't understand either why natural gas prices rose steadily for several months.

Because I have a large percentage of my net worth invested in oil and gas royalty trusts, my income fluctuates widely as the prices change.

I also think that a big run-up in energy prices would help puncture what I think is the large stock market bubble. I am on the short side of the general market.

So I hope that some people with a lot of information on this subject may contribute to the discussion.

For example, the is the question of how much oil will be coming out of the Caspian Sea region, and how that will affect oil prices.

There is the political issue of the stability of Saudi Arabia. Some people think a coup could occur there.

What is the implication of the selling of the US Navy oil reserves? I think it was a foolish thing to do, myself. Also, it seems, the strategic stockpiles of oil have been mostly sold.

I don't think it would take much of a crisis to send oil up to $50 a barrel. There's no domestic cushion or reserve left.

Just some issues to toss out.
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