Re: Bad Bodings in Black Gold

From: Al Koop <>
Date: Sun Jan 25 2004 - 19:50:01 EST

Hi Glenn,

It sure is hard to find any good news in the fossil energy supply field.
 I cannot find any knowledgeable source who thinks we can maintain our
economy growth that much longer with energy supplies the way they are.
It will take some time to get in the mainstream media on a regular
basis, but the number of people who are starting to make noises about
this question is increasing. The Department of Energy is putting out
some releases that will likely be sufficient to cover their behinds when
the problem becomes obvious to the masses. Certainly there have to be
some sharp assistants in the Department of Energy and in the Bush
administration that know the score, but have been told that now is not
the time to announce it. I am quite certain they are hoping they can
keep things going as they have been until after the election. I just
read that the administration is quietly asking Republicans to take out
the tax credits to the oil and gas companies that are in the Energy Bill
that was stopped last December. They know those things are not going to
be needed to stimulate production and it will save a bit of money from
the rising deficit problem.

I am not a financial advisor, but I would ask your own financial advisor
about putting some of your retirement funds in a safe place within the
next year. Both the former Treasury Sectretary under Clinton, Robert
Rubin, and the Republican bond guru, Bill Gross, think we are in for
tough times (latest Money magazine, but I saw it elsewhere too). I
heard Gross is completely out of ordinary bonds that he trumpeted during
the past years and is into TIPS and commodiities. TIPS are inflation
protected bonds that in are part of the CREF suite of funds if you
happen to be an academic, also TIPS can be bought from the US Treasury
online without any commission. Again, I am not a financial advisor but
if you think that anything Glenn and I have said is worrisome, I
encourage you to get some decent financial advice concerning such
things. The coming year may be fine, but after that I would not bet the
farm on things being rosy. I am not a financial advisor, however, so
take it for whatever it is worth.
Received on Sun Jan 25 19:50:54 2004

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