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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: Wally Mastroly who wrote (14320)	6/9/2000 8:56:00 AM
From: MrGreenJeans	Read Replies (1) \| Respond to of 15132

Energy Costs Could energy costs push FED to raise? I doubt this would be the sole cause. There have been many statements by Greenspan that temporary increases in energy prices is not enough for the Federal Reserve to move.

To: Wally Mastroly who wrote (14320)	6/9/2000 9:31:00 AM
From: Chuck Schmeling	Respond to of 15132

The article makes some good points. When will energy prices show up? That $30/barrel oil will have to work it's way through some day. Gas in Wisconsin has gone from $1.49 to $1.89 in 3 weeks. It's over $2.00 in Milwaukee and Chicago due to the EPA's reformulated gas, but there is no reformulated gas here. I know it's anecdotal evidence but the gas prices are starting to change my spending habits, and I see it in other people as well. I used to get my car washed once a week. Now I wash it myself or it goes dirty. The lines at the wash used to be pretty long, now you could drive right in. I have several friends who drive SUV's, and they are starting to complain about throwing $30 in the tank every few days. One of them has put her Durrango up for sale. No calls so far. I work for a gas and electric utility. Our gas traders are telling me that the natural gas they are purchasing for winter storage is going in at record high levels. The price never came down from winter. Using cheaper gas stored in summer to level out the peaks in winter helps keep your utility bills down. Don't count on that this year. Our contractors are charging higher prices for construction work than they have in the past. Fuel prices and a skilled labor shortage is getting the blame. I bought airline tickets for our summer vacation in February. The day I bought them, the airline added a $30/ticket fuel surcharge. I checked the ticket prices yesterday, and they have gone up another $50. Bob seems to think energy prices have less impact on the economy than they used to. I don't understand why.