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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (60623)	2/27/2005 5:02:11 PM
From: Maurice Winn	Read Replies (4) \| Respond to of 74559

Jay, I'll stick with Lord Browne's opinion [which happen to match my own] that oil is too expensive [meaning higher-priced that the long run marginal cost of production of oil or competing products]. I suspect Cramer is right and the share price boom is a "Match the Market" buying by index funds [if that's what Energyplay's link means Message 21084636 ] Lord Browne isn't going shopping for other companies' reserves because they are too expensive. He figures he'll get them cheaper later, at around $30 a barrel if I remember rightly. Meanwhile, steel is also zooming in price. I suppose I should have bought those apartments in Beijing in January 2004 since they are made of steel, concrete and oil [as a major input cost]. Mqurice