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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (40121)	3/12/2005 11:02:42 AM
From: CommanderCricket	Read Replies (1) \| Respond to of 206338

Russ, The vast majority of people haven't a clue about energy and where it comes from. The general public has yet to catch up with the story. Had drinks with my old colleages last night and asked them what they thought about gas prices. Didn't care and discussed March madness instead. :) I agree the traders certainly have, myself included. Read a comment this morning on the CEWI thread about no one wanting to acknowledge the elephant in the room (the elephant is our energy problems). When we finally get serious about increasing consumption taxes on energy and quickly slowing demand growth it will be time to take some money off the table. Michael

To: russwinter who wrote (40121)	3/12/2005 2:03:18 PM
From: upanddown	Respond to of 206338

Russ Have you considered the possibility that some of the capital supporting the long side in energy futures is coming from foreign petrodollars? With hundreds of billions in oil profits sloshing thru world financial markets, it seems likely to me that some of that money would be allocated towards maintaining high oil prices into the distant future. That kind of market manipulation could yield a very high rate of return and with the deep pockets of the producers, could go on indefinitely. Comments from OPEC presidents lamenting high oil prices fall on deaf ears here. They love it and want to keep the gravy train going.