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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: excardog who wrote (1257)	5/16/2001 4:10:15 PM
From: energyplay	Read Replies (2) \| Respond to of 206135

James Cramer say that energy companies being demonized - Article on the Street.com on Energy companies being demonized in media and politics - Cramer talekd wit h the CEO of WIlliams. (Bailey) a short excerpt - Why should we care? Because if you own these stocks or are looking to buy in this complex, these next few days are crucial. Right now there are moves afoot all over the country to demonize these oil and gas companies. Right behind that will be investigations and price controls, if we are not careful, and you will have to sell these stocks with reckless abandon. You think I am wrong? The specter of drug price regulation -- just the specter -- has knocked three or four multiple points off the drugs for six years now. It would crush the Valeros and the Enrons and the Philipses and the Unocals. Bailey knows this. Bailey's afraid like I am afraid. He's a businessman in the business of making money for his shareholders. Always has been. He's afraid he won't be able to, if the political griddle gets too hot. He is right to be worried. If you own these stocks, you should be, too. You have to hope that this energy policy gets spelled out in a way that doesn't demonize business, but recognizes that the problems come from the politics of energy, the resistance of people to sacrifice personally and the refusal of politicians to work out compromises that allow more power without excessive pollution. The problems do not stem from the companies. They are doing the best they can.