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To: craig crawford who wrote (126)6/6/2001 11:54:44 AM
From: craig crawford  Read Replies (1) | Respond to of 1643
 
Wednesday June 6, 11:46 am Eastern Time

Union Pacific: Quick Recovery Unlikely
biz.yahoo.com

By Jamie LaReau

NEW YORK (Reuters) - Union Pacific Corp. (NYSE:UNP - news), the nation's largest railroad, on Wednesday said a second-half recovery in the U.S. economy was unlikely and it would face continued high fuel costs and declines in demand growth.

Union Pacific, which is the largest consumer of diesel fuel in the United States, paid 95 cents a gallon for fuel last week compared with 84 cents a gallon on average during the second quarter last year, he said..

Davidson said the long-term demand for coal, which has been ''quite profitable'' for Union Pacific, remains positive as more utilities turn to coal due to the high price of natural gas.

(excerpts)