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To: Sonny McWilliams who wrote (26057)	5/22/2000 11:02:00 AM
From: William Hunt	Read Replies (2) \| Respond to of 27012

Sonny -Went through the correction in 1987 when the world was coming to an end . Maybe I am getting old but I can not remember as much FUD from the houses and network TV ( especially CNBC ---noticed how mother GE is only down 10 % in this market ---yet it is 40% financial in a rising interest market ) . This carnage is being cause mostly by the houses --sitting on the sideline and not investing the cash they have coming in ---I would not want to use the word collusion but I cannot believed the values in the tech stocks . I still have some cash and guess I will cost average down on some of my stocks . One other comment is how the FED is going to control oil prices with interest rates since it is a monopoly unless they are going to put the world in a recession . That will sure be an effective way of controlling inflation . Did you realize we still have troops and aircraft in SAUDI and Kuwaitt ?---I did not ----we are protecting them ---enough! Will talk to you later after todays debacle is over BEST WISHES BILL

To: Sonny McWilliams who wrote (26057)	5/22/2000 11:24:00 AM
From: William Hunt	Read Replies (2) \| Respond to of 27012

Sonny ---the Government needs to be talking to the oil companies and refiners ---cannot believed they are taking refiner downtime now when we had such a warm winter ? 05/22 09:44 Crude Oil Falls as U.S. Pressures OPEC to Pump More in 3rd Qtr By Josh P. Hamilton New York, May 22 (Bloomberg) -- Crude oil fell after a report that the U.S. urged Arab producers to raise output by as much as 1.5 million barrels a day starting in July to keep prices under $25 a barrel. The U.S. wants the Organization of Petroleum Exporting Countries to raise its production ceiling By 1.3 million to 1.5 million barrels a day when it meets on June 21, the Middle East Economic Survey reported, without naming sources. Saudi Arabia, the world's top producer and OPEC's most influential member, has said there's no justification for raising quotas. ``As soon as the story came out, prices came off a bit,'' said Nauman Barakat, vice president of global energy trading at ABN Amro Inc. in New York. ``But the Saudis are going to resist this because there is no shortage of crude. There is a possible shortage of gasoline, but that's got nothing to do with crude.'' Crude oil for June delivery fell 24 cents to $29.65 a barrel during electronic trading on the New York Mercantile Exchange. The contract was expected to trade at similar levels when floor trading starts. Oil prices still are 74 percent higher than a year ago. Prices fell from a nine-year high of $34.37 a barrel on March 8 after OPEC members signaled their intention to boost output. In London, Brent crude oil for July settlement fell 36 cents to $28.23 a barrel on the International Petroleum Exchange. Petroleum futures prices have hinged on concern that gasoline supplies, which lag year-ago levels, won't catch up before demand begins its rise to an annual peak with this week's Memorial Day weekend. U.S. gasoline inventories are 8 percent lower than a year ago at 201.34 million barrels, according to the American Petroleum Institute. Even with U.S. refiners steadily boosting production, traders are concerned about refinery outages and the possibility that overseas refiners can't meet new, stricter clean-air standards in the U.S. BEST WISHES BILL