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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Lucretius who wrote (55120)	1/7/2001 4:41:02 PM
From: patron_anejo_por_favor	Read Replies (1) of 436258

OPEC to Richardson: GFY! quote.bloomberg.com Vienna, Jan. 7 (Bloomberg) -- U.S. Energy Secretary Bill Richardson asked OPEC not to cut crude-oil production at its Jan. 17 meeting, because reduced inventories may push prices higher. Richardson met with incoming Secretary-General Ali Rodriguez of the Organization of the Petroleum Exporting Countries. The group should keep production stable, he said after the meeting, so the U.S. and other Organization for Economic Cooperation and Development members can stockpile enough oil to weather a reduction in output. Gee, wasn't that what the SPR was supposed to be for?<G> While OPEC acknowledges the concerns of the U.S. and other oil-consuming nations, there is a consensus to reduce output at the upcoming ministerial meeting, Rodriguez said after meeting with Richardson. He didn't specify an amount, though Saudi Arabia and other members have already suggested cutting daily supply by 1.5 million barrels, or about 5 percent of their total. Historians will look back at Richardson as the second most inept official amongst the Clintonistas (after BubbleBoy, of course).

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