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Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: John B. Smyth who wrote (3325)	5/5/1998 9:30:00 AM
From: Thomas Haegin	Read Replies (1) \| Respond to of 9980

John and all, on the fall in oil prices over the last couple of months: I vaguely remember the days in 1973 or '74 when the first oil embargo hit Europe and we were actually forbidden (when I lived in Germany) to use the car on the weekend... How things have changed in 25 years! Not only has inflation ceased to exist <g>, but oil prices are still about at the same nominal price per barrel. Adjusted for inflation they must now be at about 1/3 of the former prices or so... And we once thought a barrel of oil will cost $100! Meanwhile consumption has increased world-wide as the developing and emerging economies use more oil today, too. Truly amazing, considering that oil reserves are non-renewable... Thomas