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Gold/Mining/Energy : Gold Price Monitor

GDXJ 97.81

+0.9%

Nov 19 4:00 PM EST

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To: Bruce Robbins who wrote (48659)	2/9/2000 6:18:00 PM
From: Casaubon	Read Replies (1) of 116762

The pricing pressure is a result of the technology which will be used to achieve the ultra low emissions required of the clean air act. Specifically, the gas turbine power plants will need to be retrofitted to reduce NO, and CO emissions to be in compliance with the law. So, while car emissions will still be a large factor in maintaining high PGM prices, it is the necessity of these electric utilities to reduce greenhouse gas emissions which will drive the prices to a new equilibrium level. I'm sure the Russians are quite aware of this (as are the speculators).

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