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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 181.59

+2.5%

12:43 PM EDT

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To: Art Bechhoefer who wrote (105502)	9/25/2001 12:20:53 AM
From: Keith Feral	Read Replies (1) of 152472

Art: There is one more issue impacting oil prices you did not discuss - compliance with OPEC quotas. In the real world, people do not hoard resources to offset economic disasters. They sell the resources to generate more cash. Compliance with OPEC production quotas crumbles every time the individual countries in OPEC are forced to act in their own self interest. In the aftermath of the collapse in financial markets around the globe, OPEC countires are pumping oil 24/7 to recoup whatever losses they can. I think oil is more of free market than most people expect. This will continue to become evident as Russia becomes a major suppier of oil in the next few years. Their Caspian pipeline will be adding 1.6 million barrels a day in the next few months. Russia will be an important economic partner with all of their natural resources which have been preserved due to a complete lack of an economic infrastructure for the past 100 years. Western capital through foreign partnerships are quickly beginning to change Russia's outlook.

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