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

To: iod_sherwood who wrote (68379)	2/2/2001 9:04:27 PM
From: waverider	Read Replies (1) \| Respond to of 99985

>>>things are winding down... <<< Read an interesting article today in the Sun, a rather on the edge, left of center monthly mag. Bear with me so you can get an introduction to all this. Anyway they had an interview with Jan Lundberg, the son of the father and son team who published the Lundberg Letter, the oil industry trade journal that predicted the oil shock of 79. Any after his father died, Jan left the business and is now in hippyville Arcata in Northern California and is behind a grass roots group that wants to get rid of roads. Yes, roads. So what is he saying now? He is convinced that we have reached a global oil production peak this year (conceeds that many others in the know say this will occur between now and 2015). But "on the downslope" we will experience a slow and steady increase in the price of oil (feels it has already started) and the economy we have all come to know and love will be drasically changed forever. Five Middle East countries will regain control of the oil supply. He feels that this will make the oil crisis of the 70's look tame. "Discovery of oil and gas fields peaked in the 60's, and the world now consumes more than three times as much oil each year as discovered." I am not a gloomster, but he makes some good points. It has gotten me to wonder what role oil will play in the years ahead as we try to make a living in the stock market...and how it will effect those who cut their teeth on the 1990's who think the market is a sure thing. Rick