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

To: Tommaso who wrote (19623)	3/4/2003 1:08:21 PM
From: onginvester	Respond to of 206321

try this link for casinghead gas prices... oilnergy.com

To: Tommaso who wrote (19623)	3/4/2003 1:16:21 PM
From: jim_p	Respond to of 206321

Tommaso, The reason is because the prices in the 70's were a weighted average of both regulated (which were very low) and unregulated prices (which were very high). Since I was an oil and gas banker at the time and was loaning money on the value of those contract prices, I remember it very well when they were not honored. I was also a banker for United Energy Resources, ANR (now EP), and Texas Gas Transmission (now WBM, my best customer) so I was on both sides of the problems when regulations changed. It wasn't easy taking a pipeline credit into Senior loan committee when their contingent liabilities were 10 times their net worth. I got my ass chewed out more than once. I'd much rather take an IPP into committee today. Jim