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To: Roebear who wrote (58900)	1/22/2000 9:37:00 AM
From: kormac	Read Replies (1) \| Respond to of 95453

Roebear, From the article you posted this sentence also struck me. "That's due to the increased energy efficiency of companies that use oil heavily and the increased importance of industries that are not heavily dependent on it," Cheney said. If this truly has happened significantly, then the oil demand is harder to control. In the 70's improving the efficiency of energy use was fairly easy to carry out, as we were very wasteful. Now it may be harder. Seppo

To: Roebear who wrote (58900)	1/22/2000 10:35:00 AM
From: Brian P.	Read Replies (2) \| Respond to of 95453

"It doesn't deter me," motorist Chip Tuttle said at a Boston gas station Friday as he paid $43 to fill his sport-utility vehicle. "The economy is good." Roebear, this is a great quote--it captures in one poetic line so much about American culture at the dawn of the 21st C. (aka "the Late Auto Age"). (Caution: off-topic diatribe ====> I'll bet Chip has spent all of 5 seconds in his life contemplating global warming. The fate of my oil stocks notwithstanding, I can't fathom why Chip's playtoy should be exempt (as a "light truck") from the pollution standards my car has to meet, and who thinks it will be a disaster for the planet if one billion Chinese get it in their heads that they want to live just like Chip. The Chinese seem hell-bent on doing just that. I think it's incredibly arrogant for the U.S. to lecture the Chinese and other poor nations about controlling greenhouse emissions while we go on blithely using our 12-ton SUV's to drive back and forth to the supermarket.) Back on topic: Phil Verleger, economist for the Brattle Group, a consulting firm in Cambridge, Mass., sees oil headed to $40 by year's end, prompting several interest rate increases and a recession by year's end. Is that a recipe for massive tech-to-oil stocks rotation, or what?