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Technology Stocks : How high will Microsoft fly? -- Ignore unavailable to you. Want to Upgrade?

To: PMS Witch who wrote (24926)	6/25/1999 9:20:00 AM
From: John F. Dowd	Respond to of 74651

PMSW: It is called sovereign immunity. At one time Venezuela nationalized natural steam deposits owned by my Dad's company in that country. To win redress in court my father impounded a Venezuela tanker in Philadelphia in the Federal District Court of Philadelphia. Venezuela pleaded sovereign immunity through their legal agent (Dean Acheson ex US Sec. of State) and the Appeals Court freed the Venezuelan ship under their claim. The only thing we can do to bring them to their knees is to turn off the lights, watch the A/C and schedule the use of our automobiles so that we reduce our per capita energy consumption. This will happen as we see the price of energy encroaching on other things in our lives that hold a higher priority. JFD

To: PMS Witch who wrote (24926)	6/25/1999 9:32:00 AM
From: William Hunt	Read Replies (1) \| Respond to of 74651

PMS Witch ---The solidarity issue with OPEC is not strong as one thinks this time . Back in FEB our ( tonque-in-cheek ) president sent the secretary of energy Elliott Richardson to the Saudi to tell them we would not opposed an increase in oil prices back to the old levels . There was an article in the WSJ in late FEB to support this . So much for a free market . The following logic from the article was used to justify the agreement : 1) The oil members of OPEC were suffering economically and were possibly being set for political chaos ( such as INDONESIA ) + they could not buy our products 2) The president was getting a lot of pressure from the five oil producing states in the US to raise prices due to the oil industry downturn in their states . IT is ironic that one of the big inflation issues that is effecting the market is being fuel by the rise in oil prices BEST WISHES BILL PS Just a thought --oil prices were at this level a year a go and the market was performing decently .