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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?


To: Tomas who wrote (76227)10/13/2000 6:18:52 AM
From: Tomas  Read Replies (2) | Respond to of 95453
 
Mike Rothman of Merrill Lynch's global oil team calculates that even a sustained oil price of Dollars 40 a barrel (for WTI) compared with a recent average of Dollars 25, would knock just 0.7 percentage points off world gross domestic product in the first year.

The effect would drop to about 0.4 percentage points in year two and to zero by the third year as countries increased energy efficiency and cut consumption.

Financial Times, October 13