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Gold/Mining/Energy : Gold Price Monitor
GDXJ 105.33+5.2%Nov 26 4:00 PM EST

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To: Bobby Yellin who wrote (40565)9/21/1999 4:28:00 PM
From: goldsnow  Read Replies (1) of 116770
 
Washington, Sept. 21 (Bloomberg) -- A U.S. senator is asking
the government to combat rising crude oil prices by releasing
``several hundred thousand barrels a day' of oil from the
nation's Strategic Petroleum Reserve.

As the Organization of Petroleum Exporting Countries meets
in Vienna to ratify a plan to restrict oil output until April,
Charles Schumer, a New York Democrat, sent letters to President
Bill Clinton and Energy Secretary Bill Richardson urging them to
take the action to reverse a surge in oil prices to around $25 a
barrel from about $10 in December.
``This continuation of OPEC's supply quota policy will have
a severely detrimental effect on the U.S. economy in the coming
months, and I believe requires immediate action,' the letter
said.

quote.bloomberg.com
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