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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: jim_p who wrote (12889)	3/19/2002 1:23:30 AM
From: upanddown	Respond to of 23153

Jim One sentence in that Research Capital report caught my eye. With falling gas production and the surprising, relatively strong recovery in gas demand, the U.S. year-over-year storage overhang should disappear by this July or sooner. Possible, I suppose, but it would take far lower builds during the shoulder season than any of the last seven years on the AGA table. I thought we were talking about 1-2% declines in production and won't these higher prices be likely to generate a quick spurt in rig activity? All this euphoria seems a little premature. I sold some OSX Apr 100 calls today for six bucks. Prepared to concede quickly if I'm wrong but it all seems a bit much in the face of still-deteriorating fundamentals. John