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To: Henry Volquardsen who wrote (2470)	8/8/2000 12:12:19 PM
From: Paul Berliner	Read Replies (1) \| Respond to of 3536

Hi Henry! Nice to have a conversation with you on this beloved thread. I hope this post finds you enjoying your retirement. What I mean by the gasoline paragraph (I am the article author) is that pump prices do not yet reflect gasoline futures prices. I should have articulated that more clearly. Gasoline futures have tripled off of their lows, reaching a high of around $1.10 around May from a low of around .34 in early 1999. Gasoline pump prices have not tripled. I use as an example New York and Atlanta pump prices. Both are barely up 100% from the 1999 lows. What is unusual about Atlanta's is that there are no state gas taxes, and there prices have also only doubled as ours have here in NY. The state tax per gallon in NY is somewhere in the neighborhood of 20 cents, if I'm not mistaken. Take that away from prices over the last several months and one witnesses that pump prices have only doubled.

To: Henry Volquardsen who wrote (2470)	8/9/2000 9:06:35 AM
From: Hawkmoon	Read Replies (1) \| Respond to of 3536

I don't believe that is accurate. A large component of the retail price of petroleum products is taxes Very astute observation Henry.. And something that should be remembered by those who are looking for inflationary pressures from higher fuel costs, so long as worker productivity continues to grow as it has this year, then such higher fuel prices are effectively neutralized. However, for those economies that are not quite as productive, then the potential for inflationary weakening of their currencies is tremendous, especially since oil is denominated in US dollars. Good to see you posting again Henry.. You were sorely missed. Regards, Ron