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Strategies & Market Trends : Bosco & Crossy's stock picks,talk area -- Ignore unavailable to you. Want to Upgrade?

To: Crossy who wrote (8788)	4/5/2005 2:37:09 PM
From: BulbaMan	Read Replies (1) \| Respond to of 37387

Given Greenspan's dismal forecasting record this looks like an incredible contrary indicator! 1:51pm 04/05/05 Greenspan: crude inventories could ease price frenzy By Greg Robb WASHINGTON (MarketWatch) -- Fed chief Alan Greenspan said the current spike in oil prices may not be long-lived. Greenspan noted that futures prices for delivery of oil for summer delivery exceed spot prices. "That will likely support increased inventories of crude oil. If sustained, these market technicals could encourage enough of an inventory buffer to damp the current price frenzy," Greenspan said in a speech prepared for delivery Tuesday for the National Petrochemical and Refiners Association. Greenspan did not hazard a guess at the impact of current high oil prices on the U.S. economy, or discuss the potential impact on inflation. Some economists believe the higher energy prices will lead to slower economic growth in the second quarter.