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To: Gersh Avery who wrote (4068)	11/10/2004 2:50:50 PM
From: Joe Smith	Read Replies (1) \| Respond to of 12410

Let's breathe a sigh of relief that Gale Norton is not an economic adviser. Read this carefully: "I've seen the oil prices go up and down over time, and people seem to assume that when prices get high, they always stay high," she said. "But you need to get the investments done at that point so you've got the projects that are continuing on when the prices are low." Got to get your infrastructure in place so it is on line when things are no longer so profitable.... What was she talking about??? The funny thing is that $50 per barrel does change the equation. One assumes that there is more room for spending so that the environment is not damaged. Why didn't she just say that?