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

To: Second_Titan who wrote (4987)	11/9/2001 8:56:47 AM
From: kollmhn	Read Replies (2) \| Respond to of 206223

Is this the beginning of the end for ENE?: Houston, Nov. 9 (Bloomberg) -- Dynegy Inc.'s plan to buy rival energy trader Enron Corp. has stalled pending a credit review by Moody's Investors Service, people familiar with the talks said. Dynegy will probably walk away if Enron receives a ``junk'' credit rating, the people said. The proposed takeover, for about $8 billion in stock, hit a snag because of the threat of a downgrade that would trigger a cash crisis by forcing Enron to repay $3.3 billion of bonds early. Moody's and Standard & Poor's are considering lowering their ratings, which are two levels above junk. A rating below investment-grade would make it ``difficult if not impossible to raise new debt and would severely hamper their ability to trade,'' Jefferies & Co. energy analyst Paul Fremont said. Fremont doesn't have a rating on Enron's stock or bonds. Enron shares slid 39 cents to $8.02 in Germany. Enron spokesman Mark Palmer declined to comment. Dynegy spokesman John Souza declined to comment on the possibility of a downgrade by Moody's. Souza said talks with Enron on an acquisition were continuing. Etc.........

To: Second_Titan who wrote (4987)	11/10/2001 1:22:10 PM
From: Archie Meeties	Read Replies (2) \| Respond to of 206223

The FSU released a statement saying they will cooperate will OPEC on production cuts. Translation - "We recently went long crude futures". Oil production in the FSU isn't controlled by the government, but by private companies. To give this announcement the appearance of some teeth, these private co's will probably issue their own statements agreeing to cut production. (All the while exiting their long positions and preparing to short). This is reminiscent of the heady days of 10% daily swings of Pd, when the FSU played the futures market like a cheap violin. One day they were freely shipping Pd, the next, the Norilsk shipment was stuck in an iceberg and there only recourse was to export it on submarines. The difference is that they actualy could make a huge impact in the Pd market because they account for a huge share of Pd production (more than OPEC does of crude). "The energy markets closed higher on Friday with the exception of natural gas. Todays rally was supported by news reports that Russia may be leaning toward cooperating with OPEC on a production cut. This news triggered additional short covering in crude oil and its products ahead of next week’s meeting by OPEC in Vienna. OPEC is expected to cut crude oil production by 1.5 million barrels per day when it meets next week. Now with the apparent cooperation of a number of non-OPEC nations, it looks as though a major bottom might be forming in the energy markets." quotes.ino.com