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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: TheSlowLane who wrote (11532)	4/8/2004 3:06:44 PM
From: russwinter	Read Replies (3) \| Respond to of 110194

The Venezulean aspect of the energy mud pie: Stratfor 1343 GMT - Falling oil production in Venezuela could raise U.S. gasoline prices between 5 and 10 cents a gallon by the end of 2004, according to energy analysts in New York and Venezuela. While Venezuela's government claims that output so far in 2004 has averaged between 3.1 million bpd and 3.2 million bpd, the Paris-based International Energy Agency that follows world oil supply and demand says that Venezuela in fact produced only about 2.57 million bpd in the first two months of 2004. Output could decline to 2.4 million bpd by the end of 2004 because state-owned Petroleos de Venezuela is not investing enough to maintain existing crude output capacity. Venezuela's oil fields are mostly older, and natural depletion reduces crude output capacity by some 20 percent a year. Raymond James comments: beacon1.rjf.com