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To: Tomas who wrote (61608)	3/7/2000 9:05:00 AM
From: Think4Yourself	Respond to of 95453

OT: Excellent article. Their conclusions exactly match what I discovered when I looked into those stocks. I posted it on the PALM thread in case anyone there was actually willing to think for themselves. It's amazing how easily the underwriters can manipulate the retail investors. Even the analysts are trying to help the investors, but they appear to be beyond hope.

To: Tomas who wrote (61608)	3/7/2000 9:31:00 AM
From: Tomas	Respond to of 95453

Warning over Venezuela's oil production - Financial Times, March 6 Venezuela, the world's third largest oil exporter, will struggle to increase crude oil production in the months ahead because of low levels of investment and reduced capacity, oil industry observers warned at the weekend. ... if, as expected, Opec agrees to increase oil supplies at the end of March, this could put Venezuela under pressure to increase production - something that could take months, as the country's oilfields were much smaller than producers such as Saudi Arabia and productivity per well was lower, analysts said. The longer wells are closed, the more expensive and the longer it takes to bring them back onstream. Under accords agreed with other leading oil producing nations in late 1988 and 1999, Venezuela cut daily output by 625,000 barrels to some 2.7m barrels a day. Now, because capacity has been lost, even some officials at Petroleos de Venezuela (PDVSA), the state oil company, concede that Venezuela would be pushed to raise daily output by more than 150,000 barrels. "The damage that was done by allowing capacity to drop during 1999 is irreversible in the short term," said Ramon Espinasa, until recently chief economist at PDVSA and now a consultant with the Inter-American Development Bank in Washington. Investment was kept to a minimum in the first half of 1999 because oil prices were only beginning to climb from historic lows and revenue was low. Growing revenues in the second half of the year were siphoned off by the government, Mr Espinasa said. ...