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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: AurumRabosa who wrote (526039)	1/18/2004 2:59:22 PM
From: Eashoa' M'sheekha	Respond to of 769667

Heads Up USD Watchers.EnCana rivals hear OPEC mull euro pricing 2004-01-13 06:25 AT - In the News See In the News (C-ECA) EnCana Corp The Globe and Mail reports in its Tuesday, Jan. 13, edition that OPEC is considering a move away from using the United States dollar -- and to the euro -- to set its price targets for crude oil. The Globe's Patrick Brethour writes that several members of the Organization of Petroleum Exporting Countries are seeking formal talks on using the euro, as well as the U.S. dollar, when determining price targets for crude. Much of the impetus for the change away from the greenback is believed to come from Persian Gulf producers. They have seen their purchasing power in Europe pinched as the U.S. dollar loses ground against the euro -- including touching a record low Monday. Any move to water down the use of the U.S. dollar as the currency would have enormous symbolic impact. "On a symbolic level, I think it's huge, not only for what it says about the U.S. dollar, but also the implied change to the nature of energy trading worldwide in the future," said Peters & Co. vice-chairman Wilf Gobert. Beyond the blow to the greenback's prestige, a move by OPEC to even partly price in euros would ensure that any further depreciation in the U.S. dollar boosts oil prices, Mr. Gobert said.