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To: zbyslaw owczarczyk who wrote (2599)	10/15/2000 2:07:16 PM
From: zbyslaw owczarczyk	Respond to of 3891

OPEC may act on oil prices Saudi Arabian oil minister hints oil cartel may look to stabilize market soon October 15, 2000: 10:25 a.m. ET ABU DHABI (Reuters) - Saudi Arabia's Oil Minister Ali al-Naimi said Sunday that OPEC was concerned about high oil prices and may act before its November meeting to stabilize the market. Naimi said the oil cartel was working for market stability in cooperation with producers from outside the organization. Asked if OPEC would decide to increase production before its scheduled November 12 meeting, Naimi said: "Everything is possible, even before the meeting. This depends on the price." "Our aim is to get an average price of $25 a barrel," he said an energy conference in the United Arab Emirates. Brent crude oil futures hit a 10-year high of $35.30 on Thursday, amid Israeli-Palestinian violence and the bombing of a U.S. warship in Yemen. Prices were also boosted on Thursday by comments from Saudi Crown Prince Abdullah that the world's largest oil exporter would take "decisive measures" if Israeli attacks on Palestinians continued. A cautionary tone Other Gulf Arab oil ministers attending the conference said the Organization of the Petroleum Exporting Countries must not rush to raise output and attributed recent price hikes to violence in the Middle East. The ministers of the oil-rich region, including the world's largest oil exporter Saudi Arabia, also assured markets that producers would not cut supplies over the Middle East crisis. Asked if Arab producers would cut oil supplies in support of Palestinians in their fight against Israel, Naimi said: "Let us not talk about this subject. I don't see any use in such talk." "The concern now is with high prices and our efforts are to bring them down," Naimi said. Market jitters eased on Friday after sources familiar with Saudi thinking said the kingdom would not consider cutting oil exports to punish the United States for what Arabs see as its support for Israel. Brent crude closed down $2 at $32.60 a barrel in London on Friday. No cut in supply seen Naimi on Saturday ruled out a cut in oil supplies. "If there is demand, OPEC and other producing countries are more than ready to give the market what it needs," he said. "We believe that supply is more than demand today, but we have a mechanism. If the price is above the limit we set then there is no doubt that we will increase supply," he added. "If we say that demand for oil in 2000 is 1.7 million to two million barrels a day we still have 1.5 million barrels excess going to storage," Naimi said. "Eventually inventories are going to rise and we may have to reverse our action." He said OPEC's price mechanism would be triggered automatically. Under OPEC's informal price mechanism, which resumed on October 1, if the cartel's crude basket price stays above $28 a barrel for 20 working days or below $22 for 10 working days, crude output will be adjusted by 500,000 bpd either way in a bid to stabilize prices. In the 10 working days since October 1 prices have remained above $28, and if they continue at that level an output rise should be triggered at the end of the month. Naimi said Saudi Arabia would not act alone to raise output. "I believe supply today is higher than demand, but under the current political and military events...speculators have raised prices on fears of what might happen in the future," Naimi said. Qatar's Oil Minister Abdullah bin Hamad al-Attiyah told Reuters: "The current increase in prices is not due to supply and demand, but rather due to psychological reasons following the recent events (the Palestinian-Israeli violence)." "Everyone says that the increase in prices is due to psychological reasons. We should not rush. There is a big surplus in the market, about two million barrels a day is going into storage," he added.

To: zbyslaw owczarczyk who wrote (2599)	10/15/2000 3:10:24 PM
From: The Phoenix	Read Replies (1) \| Respond to of 3891

ZO, I guess I'll humor you... and respond to your nonsense. I will however keep the other topic separate. I will also go on to highlight that once again I am posting in RESPONSE to your post... that is this isn't an unsolicited post - as you are prone to do throughout SI - at the point of irriation. As you stated long time ago on I believe LU thread you are CSCO employee. Must have been a different Gary... that wasn't me... You have been intensively criticizing JNPR some time ago, to contradict fact that JNPR is eating CSCO lunch. CSCO's market share in the high end router market went from 80% down to 75%-77% last quarter after not showing any loss up to that point. The total market for high end routers is just of $2B. If we annualize the lost share and take worst case of 5% that would be lost revenues of $100M - not much on annual sales of $20B. I'm not certain I'd call this "eating one's lunch. This isn't intended to be a bullish comment on CSCO - just a reality check on the "eating CSCO's lunch" comment. JNPR is doing well and I have never critizied them as a company - I don't however believe they are worth $80B and I wouldn't characterize taking CSCO's share (on a quarterly basis) down three percentage points "as eating CSCO's lunch"... that is a contention point. I should be clear - I also wouldn't consider CSCO taking 3 points of ADSL market share from ALA as "eating ALA's lunch"... that's simply getting penetration. I should add, CSCO built their company on acquisitions - JNPR will not be able to do the same as cost of acquiring is much higher today then when CSCO was doing it. Get your facts straight. Why did you changed your name to The Phoenix? Because I wanted to... No particular reason. What is it with the consipricy theories around here? I've made no secret of my name change. BTW, it is your imagination that ALA is loosinng money on xDSL. Just looking at the data from Del'Oro my good friend. Take a look for yourself. ALA is attempting to hold on to thier market by giving the stuff away. How else would explain their prices are 25 cents on the dollar of the nearest competitor?

To: zbyslaw owczarczyk who wrote (2599)	10/15/2000 5:05:32 PM
From: MikeM54321	Read Replies (1) \| Respond to of 3891

ZO- In all fairness, since you referenced a LMT post to me on this thread-- I did respond to the PR ALA you referenced regarding VDSL rollouts. Care needs to be taken when reading the PR. I'm not sure if you are aware, but the key words are, "wanted, in the not to distant future, imagine." These are words forecasting what may or may not become reality. siliconinvestor.com As far as I'm aware, we still have not seen a full scale incumbent level rollout of TV services via the twisted copper pair. Not to say it won't happen, I just don't think it's cost effective today. -MikeM(From Florida)