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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Xpiderman who wrote (59167)	9/19/2000 10:07:06 PM
From: Square_Dealings	Respond to of 99985

<<the Energy Information Administration reports that oil fields could last another 230 years before running dry>> Are these guys (Energy Information Administration) related to our friends at the BLS? The supply estimates are pure guesses. If we (US) have an unlimited supply then were is the oil? The facts are that we are dependent on foreign oil and US stockpiles/oil inventories are at 12 year lows. Todays API report showed further reduction in inventory. I expect oil prices to fall eventually because of reduced demand. I dont think the economy can sustain its current credit- inflated pace. But as long as demand is high corresponding high prices will be maintained unless the US can produce some of this 230 year supply. M.

To: Xpiderman who wrote (59167)	9/20/2000 8:15:29 AM
From: Haim R. Branisteanu	Respond to of 99985

-X, regardless of this report, oil prices are purely catching up with inflation. From an historical point of view let say 20 years crude oil is still a relative cheap source of energy. Have you been thinking about price inflation of the NAZ?? is there a scarcity of worthless paper? still prices are sky high and nobody is complaining. Complaining about the present price of oil and not high stock prices is a pure hypocritical and egocentric mentality. The standard measure for energy is BTU and wen compared with other resources and the cost to transform this BTU into usable energy with same polluting effects we are now in balance. As soon as crude oil will be expensive you will see again wide use of coal and other alternate energy sources, still we are not at this point yet. $40 per barrel may do it. Haim