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Gold/Mining/Energy : Global Santa Fe (GSF) (formerly Global Marine) -- Ignore unavailable to you. Want to Upgrade?

To: Doug Skrypek who wrote (1318)	3/11/1999 1:06:00 PM
From: TimbaBear	Read Replies (1) \| Respond to of 2282

...."This rally will stall. It is in the vital interests of the US to have cheap oil, high energy costs mean inflation and no growth-not in Clinton's best interests...." You know, I have seen this argument several times recently. I don't see the US fostering the kind of conservation measures that would be consistent with this view. Detroit is pumping out newer, bigger, and more guzzling vehicles; speed limits on the highways are increasing; petroleum alternatives are not nearly as touted as they were back in the mid-to-late 70s. Although higher energy prices may have a negative impact, productivity gains may still be able to absorb quite a rise in oil prices. After all, this bull market started and grew when oil prices were much higher than these levels.