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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: JGreg who wrote (58679)	1/18/2000 8:40:00 PM
From: kormac	Read Replies (2) \| Respond to of 95453

JGreg, I also have been in the bathroom shops recently as I am redoing my bathroom. Decided to go with old fashioned cast iron tub, and put in a separate shower. When looking at showers I noticed the catalogs full of showers with around 6-8 heads. Many of them coming from knee-high on up. Yes this is exactly Thorstein Veblen's conspicuous consumption. Conservation will not start until oil prices go to way up still, and the reason is this. Most Americans feel very rich today. I say most, because for the politicians the poor ones do not count, as most of them do not vote. The tube is full of stories of the new millionaires from stock market appreciation. Do these people worry if gasoline costs 2 dollars or 1.15. Not really, and home heating is a small part of their budget, even in the cold northern climates. My most expensive heating bill (with natural gas) during the dead of winter may be $180 when during the summer it is $18. The latter comes from taking showers and cooking, so you can see how much the heating cost is. Well take a person with a mortgage of, say $1800. At the worst time of the year his heating bill is only 10% of his mortgage and he knows it goes way down soon. Similarly gasoline does not really does not amount to that much for a person who sees his stock portfolio increase at, say $100 each day on the average. It was a good day today, I hope tomorrow will be equally good. Then we might get some pullback. I do not plan to sell my OEI, MDR, GLBL, XTO for the next 3 months. I think the rotation has only just started. Seppo