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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (19749)	10/11/2004 12:01:39 AM
From: Jim McMannis	Respond to of 110194

RE:"A new study published in Petroleum Review suggests that production might not be able to keep up with demand by 2007." Megatrend in process...

To: russwinter who wrote (19749)	10/11/2004 3:20:22 AM
From: ForYourEyesOnly	Respond to of 110194

"A new study published in Petroleum Review suggests that production might not be able to keep up with demand by 2007." With WTI over $53 and the commercial traders holding essentially flat positions, it seems that we have already passed the supply/demand crossover, and that supply is being rationed through higher prices.

To: russwinter who wrote (19749)	10/11/2004 8:41:20 AM
From: ild	Read Replies (1) \| Respond to of 110194

06:16 ET Lone Star Tech guides below consensus (LSS) 38.20: Late Friday company issued downside guidance for Q3 (Sep), sees EPS of $0.85-0.95 vs. Reuters Estimates consensus of $1.36. The company noted that average steel costs were up approximately 20% from the second quarter of 2004, which amplified the negative impact on earnings from Lone Star's use of the LIFO (Last In First Out) method of accounting for inventories, which results in earnings being impacted by the most recent (in this case, the highest) cost of steel.