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

To: Crimson Ghost who wrote (58903)	1/22/2000 11:14:00 AM
From: Think4Yourself	Read Replies (1) \| Respond to of 95453

Ah, you either read the post before my editing window closed, or didn't read it all. I had that insight after initially posting and edited it. Found your comment on the taxes fascinating. Always wondered why gas prices were sky high outside the US. Assumed we got "deals" on our oil in exchange for our military "protection" guarantees to friendly oil producers. I HAVE CHANGED MY MIND ABOUT INFLATION. I used to think oil would lead to super high gasoline prices. Now that I have realized taxes are a major part of gasoline prices, it occurs to me that a $10/bbl rise in oil translates into about a $.25 rise in gasoline prices - which is what has been happening. From talking with other folks around here I figure most americans will not change their lifestyles in ANY way unless gas prices exceed $2.00 (although I do live in a fairly wealthy area). If this perception is true oil prices could easily go to $50 with no ill effect ($1.85 gas) AS LONG AS IT DIDN'T GO UP TOO FAST. We would still be paying a lot less per gallon than most countries. In other words, we will have oil related inflation but americans simply won't care. As such, I will be increasing my use of margin next week on any weakness.