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Technology Stocks : WDC/Sandisk Corporation -- Ignore unavailable to you. Want to Upgrade?

To: Steve 667 who wrote (26916)	11/2/2004 4:46:58 PM
From: Art Bechhoefer	Respond to of 60323

Steve, even though the reserves are "a drop in the bucket," the knowledge that they would be made available, and also that during times of high oil prices, further additions to the reserves would be curtailed has an important psychological effect on prices. This is not my opinion but the view of many economists (including writers at The Economist, the British weekly news magazine). Part of the reason for recent price increases was due to lower than normal inventories and to speculation by traders and hedge fund managers. Why wouldn't someone want to stop the speculation? The answer must be that they like high oil prices, despite the unfavorable impacts on consumer discretionary spending for items like cars and digital cameras. Art