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

To: Dave who wrote (26922)	11/2/2004 8:52:00 PM
From: Art Bechhoefer	Read Replies (1) \| Respond to of 60323

Dave, I follow mostly the exploration and production companies, rather than the larger integrated firms. The E&P companies typically have been obtaining new reserves at a cost somewhere in the range of $7 to $15 per barrel oil equivalent (the cost of land or oil rights, plus development and extraction costs). With current crude oil prices near $50, they have exactly what I said before--windfall profits. And those profits are coming at the expense of consumers, who must curtail their spending on other discretionary items, including flash memory. Art