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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Jacob Snyder who wrote (41019)	3/26/1999 7:58:00 PM
From: Ditchdigger	Read Replies (1) \| Respond to of 95453

<What am I going to do, buy a wood-burning stove?> Careful there<g>, I live in Vermont and heat with wood (about 6-7 cord per year).I cut and split my own, but a cord goes for about $110 around here,so multiply that times 6,,I think fuel oil is cheaper as well as gas to heat with.(then if you want to also heat your water,you have to spend 2 grand on a wood fired boiler (for a decent one)..DD

To: Jacob Snyder who wrote (41019)	3/26/1999 10:23:00 PM
From: Crimson Ghost	Respond to of 95453

Demand is indeed more elastic as we go out in time, but even the long-run demand elasticity probably is quite small for this recent move in oil. Why? Because oil and gasoline are still extremely cheap in the US even after this rebound. In real terms we now are about where we were in 1972 -- before the first Arab oil embargo. Here in Palm Beach prices at the "cheap" stations for 87 gas have risen from about $1.03 to $1.10 per gallon the last few weeks. I expect they will climb further to around $1.15 before too long. Still very cheap. Gas would have to jump a lot more to impact consumption in a significant way.