oil just fell of the cliff , page-18

  1. ian_whitchurch
    2,834 Posts.
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    03/12/04
    07:54
    Post #: 688320
    Ajax,

    BHP is heavily leveraged to growth in China, and the growth rate in China is affected by the price of energy.

    I'd need to know a lot more about their precise product mix, but at a rough guess, the higher copper etc prices compensate for lower oil revenues and vice-versa.

    Ian Whitchurch
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    lightbulb Created with Sketch.  Great analysis
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