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To: Tommaso who wrote (226047)	3/6/2003 7:52:15 PM
From: Earlie	Read Replies (2) \| Respond to of 436258

T: I agree with your views on the explorers and drillers, although I temper that view with the belief that the current rapid (indeed accelerating) rate at which the global economy is slowing, may dramatically reduce energy demand during the coming year or so. For me, it is a toss-up as to which will have the greatest near term impact. I must admit that your act of philanthropy on behalf of we fellow bears is most appreciated. (g) Best, Earlie

To: Tommaso who wrote (226047)	3/7/2003 8:50:44 AM
From: reaper	Read Replies (1) \| Respond to of 436258

T -- as you noted in your post, after the last spike to $10 gas (coincident w/ the California energy "crisis") plenty of gas drilling came on line pretty quickly, enough to not only avert a gas 'crisis' but actually enough to pretty much crater the price; such a cratering occured that the E&Ps actually seem reluctant to drill this time around for fear of doing the same. so what is it that makes you see "energy Armageddon" coming? has something fundamentally changed from a couple of years ago (other than storage being at even LOWER levels than it was then)? i'd think that enough industrial demand (principally aluminum and fertilizer, but also places like my dad's commercial bakery that can fuel switch to oil) would come off line to help prevent the price from going much higher, but maybe i'm relying too much on the history from 2 years ago when a lot of folks got majorly head-faked by gas. thanks. Cheers