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To: yard_man who wrote (240831)	5/15/2003 12:43:44 PM
From: reaper	Read Replies (3) \| Respond to of 436258

tip <<energy costs were down big -- whole pt was it was just a friggin blip due to the "resolution" of the war>> but the whole increase was a friggin (larger) blip due to the coming of the war (and the problems in Venezuela). i am very honestly looking for some evidence that the marginal cost of pulling a barrel of oil (or and mcf of gas) out of the ground is increasing. this is not one of my young punk rhetorical questions. i have personally not found compelling evidence that the marginal cost to find, drill, refine, and finance a barrel of oil is doing anything but what it has done for the last 20 years, which is DECLINE. until this is reversed (and again, i am very open to evidence that it has) then the long-term direction of energy prices will continue to be down. Cheers