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To: GST who wrote (112118)	11/25/2000 10:25:02 PM
From: Victor Lazlo	Read Replies (1) \| Respond to of 164684

GSt, sadam needs western currency badly. End of story.

To: GST who wrote (112118)	11/26/2000 5:41:48 PM
From: Glenn D. Rudolph	Read Replies (2) \| Respond to of 164684

Glenn: I am not predicting anything about Iraq -- but to say that Iraq cannot shut off its taps is incomprehensible to me. Iraq wants out of the UN sanctions. This is our time of vulnerability -- and Europes time as well or even more so. To suggest that Iraq cannot shut down -- it defies everything we have seen for thirty years from the ME. GST, Iraq is unpredictable and yes they could shut down. Crude itself is not a problem anymore in that production without Iraq will be more than adequate by this spring. Iraq will just loose oil sales to other countries. World wide crude inventories are not terrible although refining capacity is challenged. Iraq I believe is only producing about 2.5 million barrels daily and that is on the high side. Glenn