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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (29702)	7/11/1998 11:08:00 AM
From: Joseph G.	Read Replies (1) \| Respond to of 132070

Mike, <<Exxon offers a product that cannot be replaced>> That's what bothers me - now it is for real that a significant number of cars and trucks will be fuel cell powered soon (10 - 15 years), so that 30 years from now there may not be any gas cars left [exept as antiques, if EPA allows to actually drive them]. And that's where most oil goes now, in this country. Fuel cells can be powered by an oil derivative, but they can also be powered by natural gas and/or coal-derived stuff, which will put a ceiling on oil price. And, fuel cells are more efficient than internal combustion engines, so you need less fuel. {but more platinum -g-} And, valuation: XON was P/E of six to ten in the Sixties, and paid 5 -6% div. Now it's P/E = 22 on peak earnings and pays 2.3%. Why? Sixties were not known for low stock valuation -g-.