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To: Think4Yourself who wrote (69060)	7/1/2000 6:53:22 PM
From: Snewts	Read Replies (1) \| Respond to of 95453

JQP, After what happened to BRR Friday, I'd be interested in seeing your list of unhedged, or slightly hedged E&P's again. I know you mentioned that XTO's hedges are now ended, but I can't recall the others. Thanks in advance.

To: Think4Yourself who wrote (69060)	7/1/2000 11:40:28 PM
From: Tomas	Read Replies (1) \| Respond to of 95453

"Dubious Pump Price Jump A Pain In The Gas" Chicago Tribune, June 30 Jim Mateja Column Dubious Pump Price Jump A Pain In The Gas: So, whu wuz respinsoble fur de sodden rize in ges prizes? Oops! Sorry, but it's difficult to strike the proper keys while pulling the wool from over our eyes. The wool was applied about the time gas prices went from $1.50 to $2 a gallon in a minute and a half. So who was responsible for the sudden increase in gas prices that made a gallon of lead-free run twice that of a pint of designer water? That's the question everyone is asking. The answer, of course, is that we'll never know because no one in his or her right mind would admit to being at fault. But there's plenty of finger pointing. Consumers are blaming gas station owners. Gas station owners are blaming oil companies. Oil companies are blaming OPEC. Environmentalists are blaming the Ford Excursion, those who wear coats made from fur, and, of course, smokers. Geraldo is blaming O.J. (Remember that big, gas-guzzling white Ford Bronco?) The only one escaping blame, so far, has been Oprah. Illinois politicians, the ones who passed the laws establishing the onerous taxes on life's essentials--gasoline and booze--this week rushed to vote a six-month moratorium on the collection of the tax on gas to save motorists(read voters) 8 to 12 cents a gallon. Can the state do without the lost revenue? No problem. Paying more than $2 a gallon for gas so frustrated consumers, they took to drink. Any reduction in the gas tax will have been offset by the tax windfall from booze sales in the last several weeks to help people forget what they were paying for gas. The reason diesel fuel stayed 50 cents a gallon less than lead-free was to spare those bringing in our daily ration of booze via 18-wheelers and allow the state to build a surplus in booze tax revenue to atone for a cut in the gas tax. But we digress. To learn who is to blame for $2 gas, a host of state and federal investigations are under way, even more than are being held to find solutions to the problems of drugs, youth gangs, handguns, homelessness and child or spouse abuse. Good to know that our politicians have their priorities in order. Despite the gas price fiasco, some of this country's worst fears were never realized. Never had to navigate a roadway strewn with abandoned Excursions to get to work, for example. Saw a few more of the big SUVs left in the driveway, while Taurus or Focus sedans were used for the commute to work. The most memorable sight we saw came the day gas prices miraculously tumbled and station operators raced to post new sets of numbers. At one suburban station along an expressway, more than a dozen cars, vans and SUVs lined up for lead-free that now carried the "bargain basement" price of $1.72 a gallon, down nearly 20 cents from what that station had charged a day earlier. We remember a few decades ago when cars were parked in line for the daily ration of $2 worth of 50-cent-a-gallon gas after OPEC turned off the spigots. But we can't remember witnessing a fleet of vehicles in line for $1.72-a-gallon fuel. Imagine idling for 30 minutes, burning up what's left of your $2-a-gallon gas just to fill up with $1.72-a-gallon fuel, and feeling pleased you are getting the better of the deal. Can't help but feel ill at ease that now that the gas price escalation apparently is over, many folks who just a few months ago were paying $1.40 to $1.50 a gallon are beaming at now paying $1.70 to $1.90 a gallon. Apparently, there still is a lot of wool floating around. And keep in mind, in six months the price of gas will rise by 8 to 12 cents a gallon.