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

AMZN 222.17

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To: Bill Harmond who wrote (147913)	9/23/2002 11:57:08 AM
From: Slumdog	Read Replies (1) of 164684

Globe/WSJ say EnCana, others could see oil prices jump 2002-09-23 04:39 PT - In the News The Globe and Mail reports in its Monday edition that though Organization of Petroleum Exporting Countries members have expressed a willingness to keep oil prices from spiking much above $30 (U.S.) a barrel if war erupts in the Middle East, some members question whether the cartel can succeed. The Wall Street Journal reports inside The Globe that former OPEC president Chakib Khelil doubts OPEC has adequate spare production capacity to meet the world's petroleum needs if war erupts with Iraq and then spreads to other parts of the Middle East. While OPEC maintains that the cartel could pump an extra five million barrels a day, Mr. Khelil says the actual amount could be closer to four million barrels a day. As well, Mr. Khelil doubts OPEC could get all its oil to market in the event of such hostilities. He says if a Middle East war breaks out prices could soar well above $30 (U.S.) a barrel and stay there for months. Mr. Khelil, who is also Algeria's oil minister, says it is anybody's guess how high prices could go. Mr. Khelil's dire scenario is in sharp contrast to the cartel's broader message that it has the spare capacity and logistical wherewithal to meet the needs of oil-consuming nations.

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