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To: PaulM who wrote (54927)	6/22/2000 5:48:00 PM
From: Ken Benes	Read Replies (2) \| Respond to of 116764

Not quite, the central banks and the producers are throwing more at the market than consumers can handle. Lower prices produced in higher and higher quantities equal lower revenue. It is simple math to everyone except the apologists for the producers who think they are well run companies employing the latest technology to lower costs. Ken

To: PaulM who wrote (54927)	6/22/2000 7:27:00 PM
From: goldsnow	Read Replies (2) \| Respond to of 116764

``In fact output capacity today, which is about 700,000 barrels a day, is lower than we would have anticipated two or three years ago before the price collapse,'' Yergin said. The 1997-98 crash in Asian economies caused world oil demand to decline sharply -- South Korea is the world's sixth-largest oil consuming market, he said -- leading to an oversupply that producing nations were slow to react to, Yergin said. Now that oil prices are higher, OPEC was slow to recognize its supply shortage and he said producing nations were unable to boost production quickly because of investment constraints. quote.bloomberg.com