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

To: energyplay who wrote (79895)	11/24/2000 3:51:25 AM
From: Douglas V. Fant	Read Replies (1) \| Respond to of 95453

energyplay, P,G, & E is in pretty good shape itself portfolio wise for the Year 2001, especially with its hydro units in northern California. Still they will "eat" higher NG prices partly too in their gas-fired units portion of their portfolio..... But yes, I am really surprised to see Cal Pricing pegging out at the $250/megawatt hour in November for day ahead purchases when demand has already dropped by 1/3 from summer.... calpx.com BTW on the Hourly Constrained Zone (congested interfaces) Pricing Report at the CALPx Website, note that the third column titled "AZ3" is the massive 3600 megawattt Palo Verde Nuclear Power Generating Station SW of Phoenix, AZ, a major power pricing hub in the SW. Fully depreciated the Palo Verde generates elctrical power at a cost of about 1-2 cents per kilowatt hour...Subject to west bound transmission constraints, they sell that power into the California power markets tomorrow based upon day ahead prices locking in right now for anywhere from 13.8 cents to 50 cents per kilowatt hour. Not a bad profit margin, eh? BTW Arizona Public Service is majority interest holder in that plant....

To: energyplay who wrote (79895)	11/24/2000 9:27:42 AM
From: isopatch	Respond to of 95453

Right. High heating bill/victim political spin will be next: Smart players in the indus and the market have to stay ahead of the curve. Soon as this election thing is settled, the spotlight of the liberal media will switch immediately to bashing "profiteers" and "big oil" back to back with footage of old people and children huddled together at home in winter coats and blankets. All these media shills ever do is provide cover for their political bed fellows to increase the size and POWER of government. And the only place to get more $$ to achieve their goal is to take it away from us in the private economy. Just watch, folks. EVERY time there's any kind of economic problem? Private enterprise is the problem and more government intervention and "programs"(TAXES) is the solution that's presented on the Boob Tube. I'm looking for another rally in the O&G sector, but will sell into it. Cash is going to be king till late 1st Qtr IMHO. Isopatch