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

To: Roebear who wrote (62897)	3/24/2000 9:52:00 PM
From: BigBull	Respond to of 95453

Roebear, Re HO. If we get a cold end of March or early April, it could spell real trouble for next years HO prices. Note the macro trend here in HO stocks; a series of lower highs and lower lows in the all important North East: eia.doe.gov With refiners switching over to gasoline now, enough HO will not be made to supply even a mild winters need for next year. Period. Refining capacity has its limits. Remember, this winter was a RECORD warm winter. Even a "mild" winter will send prices soaring. Since I am predicting world wide economic growth this year to be a minimum of 4% this year, next winter looks OMINOUS! Most folks haven't really absorbed the implications of US and OECD crude stocks having been drawn so far out of their ordinary range. This does not compute yet. Conclusion: Oil Prices stay high. Minimum downside here for WTI is 25-26. Sorry Post Patrol, your only hope for OSX 80 is a massive increase in OPEC production, say 3 mbpd or greater, with initial shipments, deliverable on Monday. Time has run out. Richardson fiddled while Rome burned, his political aspirations are finished.