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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Telemarker who wrote (75412)	10/3/2000 11:04:07 AM
From: Crimson Ghost	Read Replies (2) \| Respond to of 95453

My take is much broader than commodities. The US has sucked huge amounts of capital from abroad these past 5 years. That has greatly boosted the relative performance of the US economy and markets for quite some time. No big trick to keeping inflation down and interest rates low when you can import huge quantities of foreign goods and pay for them by simply printing IOUs. When this capital flow starts to reverse the relative performance of the US economy and financial assets will drop a lot.

To: Telemarker who wrote (75412)	10/3/2000 1:25:48 PM
From: Archie Meeties	Respond to of 95453

These stats might help your decision making process. US per capita energy production (mil. BTU) 1970 304 1997 270 US per capita energy consumption 1970 327 1997 352 (The solution, of course, is to open the spr.) US energy consumption per dollar of GDP (1,000 btu) 1970 19.6 1999 14.1 per capita carbon dioxide production from fossil fuels(tons of carbon) 1998. US 21 UK 9 Japan 9 France 6 Austria 8 Mexico 4 per capita energy consumption (mil btu) 1998 US 352 UK 171 Japan 169 France 166 Austria 160 Mexico 59 I've struggled to reconcile this and other data with the common knowledge that 'higher oil prices will affect other economies more than ours'. But until I see otherwise, common knowledge will remain just that. Perhaps the BLS finds that our energy is more productive and of a higher quality than before or elsewhere. In short, there is no economy in the world which is more sensitive to changes in energy costs than ours. (Excluding the oil states, of course.)