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

AMZN 232.08

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3:59 PM EST

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To: zonder who wrote (150039)	11/13/2002 9:25:40 AM
From: Victor Lazlo	Read Replies (1) of 164684

Zonder, we are not nearly as dependent on ME oil as we were 20 or 25 yrs ago. Mideast oil as a percent of the US's increasing energy consumption over the years has been fading substantially and steadily. We use domestic nat gas and gas from canada much more than we used to; much oil consumption has been replaced with other fuels. No oil fired power plants are being built or have been built in recent years; they'all nat gas. Many homeowners have switched from oil to gas for their heat and hot water, and new homes al use gas if there's service in the neighborhood. US 'dependency" on ME oil is a myth. Plus, the OPEC nations cheat. They regularly exceed quoatas becuase the countries all need the money so badly. OPE nations have no discipline when it come to limiting their oil exports. And then there's the price of gasoline itself. When adjusted for inflation, gasoline prices are actually lower than they were during the late '70s and early '80s, when prices were rising at a 12.5 percent year-over-year pace rather than the moderate 2.7-percent increase recorded in 1999.

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