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To: Bill Harmond who wrote (99587)4/9/2000 6:47:00 AM
From: GST  Respond to of 164684
 
William: re: <what's going on> "prices dropped sharply as speculators cashed out of the market to take profits"

Global growth is what is going on. That should lead to higher commodity prices. Lets face it -- commodity prices bottomed but the rise won't be without corrections. There is not enough platinum and palladium to go around -- as for oil, it is a manipulated market. Same is true for gold. But in the case of gold, the supply is manipulated to hold down the price -- and this cannot go on forever.



To: Bill Harmond who wrote (99587)4/9/2000 9:25:00 AM
From: Glenn D. Rudolph  Read Replies (1) | Respond to of 164684
 
During my college years all I head was the world would be out of oil by the year 2000. Clearly, the rate in increase of demand slowed and many more reserves were found. Is there a site that someone is aware of that currently forcasts the duration of known reserves?



To: Bill Harmond who wrote (99587)4/9/2000 4:35:00 PM
From: Glenn D. Rudolph  Respond to of 164684
 
World petroleum reserves are estimated at about 1033 billion barrels.

eia.doe.gov