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To: Haim R. Branisteanu who wrote (125329)	9/24/2001 10:32:48 PM
From: yard_man	Read Replies (2) \| Respond to of 436258

Reduced expenditures on energy will not forestall the collapse in profits that is currently underway; neither will it bring business that have slipped into the red back to profitability. Higher energy prices didn't cause the slide in profits ...

To: Haim R. Branisteanu who wrote (125329)	9/24/2001 11:20:28 PM
From: James F. Hopkins	Respond to of 436258

Haim: I like that post; and want to add while we import a lot more oil than we produce we are not impacted as bad by the higher prices as many other counties are who have to import almost 100%. Japan the 2nd largest economy is more dependent on imported oil than we are. At least here when oil rockets up some of the bad effect is offset by local production increases and drillers going to work. However the effect on the world at large is high oil prices equate to contraction of growth world wide, & lower prices means expanded growth world wide which all comes back in more ways than I can write about. Very high prices can just about bring some 3rd world countries to a stand still, then cause defaults on IMF loans, & the need for even more assistance, when that happens even the mitigating effect we get from more local production is shot all to hell. Jim