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Gold/Mining/Energy : Gold Price Monitor

GDXJ 97.80

+0.9%

Nov 19 4:00 PM EST

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To: lorne who wrote (34740)	6/1/1999 5:02:00 PM
From: John Hunt	Read Replies (1) of 116764

Oil crisis shuts down 400 companies in Venezuela << A reduction in Venezuelan oil production has caused some 400 private oil companies to close and put thousands of people out of work, according to industry figures. "We are facing a recession never before seen in the country's history," Hugo Hernandez, first vice president of the Venezuelan Petroleum Chamber, said Monday. Venezuela, which competes with Saudi Arabia as the No. 1 foreign supplier of oil to the United States, has cut its oil production this year in an effort to prop up sagging prices ... con't ... >> nando.net Not only the marginal gold companies that are closing down ... Should keep oil prices and inflation high.

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