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To: Danny who wrote (110332)10/12/2000 4:11:39 PM
From: GST  Read Replies (2) | Respond to of 164684
 
Danny: "I disagree with the argument that we have seen any thing sustantially new today compared to, say, two days ago."

Do the words "oil embargo" ring any bells? Two days ago it looked like diplomacy might prevail -- today it was "war". Do you remember the last oil embargo? The very thought of it -- and trust me to tell you that this is a real and valid fear that will be shared around the world -- the very thought of it puts us into a whole new ballgame. Where we disagree is that I think "everything" changed today. We went from tight energy markets to something potentially much worse.



To: Danny who wrote (110332)10/12/2000 4:12:14 PM
From: Eric Wells  Read Replies (1) | Respond to of 164684
 
As for war, this is more of a psych. blow to the market today.

Danny - I disagree. A major Arab-Israeli war would not only cause oil prices to skyrocket, it would make investors fearful of investing in an unstable global market. I believe the situation in the Middle East is the worst it has been since - since the Intifada days in the late 80's - and it's quite possibly worse now than it was then.

-Eric


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