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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: ild who wrote (84094)	10/11/2000 6:05:18 PM
From: Knighty Tin	Read Replies (1) \| Respond to of 132070

ild, I usually buy BR under $30 and punt it in the low $40s. IMHO, the May 42 1/2s fetching $5 currently look awfully good. At the moment, there is no need for Opec to cheat. However, there is plenty of incentive for many of the projects that were shelved when oil was $14 a barrel to be revived. And for fields that were "non-economical" at $14 a barrel to quietly become economical again. And there is an incentive to deep six the SUV gas guzzler the next time we trade in our cars. Oil may not go to $10 a barrel, but oil cos. will not do well from here unless it goes over $40 a barrel and stays there for awhile. I don't see that happening. Natural gas has room to move up if we get a cold winter. I am holding a few oil and gas cos. today, but I wouldn't buy any with new money at these prices. There are simply too many better investments around. Eventually, of course, we will turn to the Sun and oil will become passe and worthless. But that is a ways off in the future. "Let the sunshine Heat up the water. Let all the water Turn into steam. Let the steam drive All the generators, Keeping all the engines Humming like a dream." Apologies to folksinger Jim Post.