The following appeared in a letter from a firm providing investment advice to a client. "Homes in the northeastern United States, where winters are typically cold, have traditionally used oil as their major fuel for heating. Last year that region experienced twenty days with below-average temperatures, and local weather forecasters throughout the region predict that this weather pattern will continue for several more years. Furthermore, many new homes have been built in this region during the past year. Based on these developments, we predict a large increase in the demand for heating oil. Therefore, we recommend investment in Consolidated Industries, one of whose major business operations is the retail sale of home heating oil."