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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 220.66

+1.6%

Nov 21 9:30 AM EST

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To: GST who wrote (108279)	9/11/2000 3:36:49 PM
From: Eric Wells	Read Replies (1) of 164684

Former Saudi Oil Minister Sheik Ahmed Zaki Yamani (from TheStreet.com): "OPEC has a very short memory. It will pay a heavy price for not acting in 1999 to control oil prices. Now it is too late," he told Reuters' Richard Mably. "The Stone Age came to an end not for a lack of stones and the oil age will end, but not for a lack of oil. "I think prices might go a bit higher this winter but further ahead in 2001 prices will start to come down and longer term it is horrible for OPEC." Yamani's thesis is that $30-plus oil has already driven the West down an irreversible path toward using high tech to reduce, and probably eliminate, our reliance on imported oil. Yamani again: "Technology is a real enemy for OPEC. Technology will reduce consumption and increase production from areas outside OPEC. The real victims will be countries like Saudi Arabia with huge reserves which they can do nothing with -- the oil will stay in the ground forever." thestreet.com -Eric

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