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To: GST who wrote (108287)	9/11/2000 4:02:53 PM
From: Eric Wells	Read Replies (2) \| Respond to of 164684

Hardly a big surprise and of no value as information unless you invest in oil -- which I don't. GST - I'm not an economist. I took a few economics courses when I was getting my MBA at UCLA. But I would classify my knowledge of economics as "marginal". We're seeing higher energy prices now because demand is outstripping supply. Supply is being limited by OPEC output of crude, refining capacity and tanker availability. Doesn't Sheik Yamani's statement that oil prices will come down in 2001 suggest that at that time there will either be a fall in demand or an increase in supply? And won't that help to reverse some of the negative impact that the supply/demand imbalance in energy is posing to our economy at the current moment? Apologies if my lack of knowledge in this area is causing me to totally miss something in this equation. Your thoughts on what I've written above would be much appreciated. Thanks, -Eric