04/04/2005

Crudely Speaking

Hello:

Goldman Sachs sent tremors through the market last week when its research department suspected that the price of a barrel of light, sweet crude oil could "spike" up to as much as $105 within the next few years, perhaps due to the continued rapid growth of the economies of China and of India. Today ChevronTexaco announced a bid to buy Unocal citing an opportunity to increase their reserves in the Asia. Analyst Louis Navallier writes that the price of heavy crude, preferred by the SUV driving Americans, lags the price of light, sweet crude, preferred by the diesel using Europeans, by approximately $9.

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Terri G. Millson, CIMC President

Ray Dicius, CSA, GEPC LPL Branch Manager