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To: LLCF who wrote (35394)9/17/2000 6:48:11 AM
From: JDN  Read Replies (2) | Respond to of 64865
 
Dear David: Gloom and doom articles are written to get PUBLISHED, happiness and joy rarely do. This whole thing is slightly contrived. Believe NOTHING of what your read and only HALF of what you see. But, since you point the article out, I refer you to the below section which says it all. JDN

Much less a factor'

Still, some economists cautioned that the negative effects of an oil shock shouldn't be exaggerated. Faced with higher energy costs, Old Economy companies could be forced to upgrade their investments in technology as they seek to increase their overall efficiency.

``Energy intensiveness in production has declined over time, and it is much less a factor in our economy than it was 10 or 20 years ago,'' said John Ryding, senior economist at Bear Stearns & Co. Inc. in New York.