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To: Dale Baker who wrote (45796)	4/26/2006 4:16:34 AM
From: Dale Baker	Respond to of 118717

OPEC concedes it can't rein in oil prices Reuters TUESDAY, APRIL 25, 2006 DOHA, Qatar OPEC ministers conceded on Monday that there was nothing they could do to halt the rise in oil prices, which is threatening the economies of consumer countries and could lead to a collapse in demand disastrous to producer states. The group, already pumping as much as refiners can handle, concluded at talks here that raising its production ceiling of 28 million barrels a day would not rein in runaway prices. "The market determines the oil price," the Saudi oil minister Ali al- Naimi, said. "You know and I know that the reason the price is where it is is not from a shortage of supply." Oil raced to an all-time high above $75 last week as Iran continued to defy world pressure to halt its nuclear program, a quarter of Nigeria's output lay idle after rebel attacks and Iraq's once-considerable oil industry was mired in crisis. Consuming nations - from the top energy user, the United States, to poor African nations - are afraid high energy costs will snuff out economic growth. Producers fear a price collapse. OPEC ministers, meeting on the final day of global energy talks here, had little enthusiasm for a proposal from Kuwait to offer up all the organization's spare capacity of two million barrels a day as they did in September after oil first spiked above $70 a barrel. "OPEC can't do anything about the upside to the market," said Michael Coleman, managing director of hedge fund Aisling Analytics. "They don't have much scope left for managing." Energy consumers and producers here for the International Energy Forum agreed there was an urgent need to bring down prices. But they were split over how to do it. Consumers want greater access to oil and natural gas in the Middle East, Russia and Africa. Producers want to be sure investing in new fields will pay off. Both sides criticize major oil companies for failing to build new refineries. OPEC members point out that they have raised oil output by more than 10 percent since 1999. Saudi Arabia alone will spend $50 billion over the next five years on new fields and refineries. In contrast, the United States, which uses a quarter of the world's oil, has not built a refinery on its soil for decades. The U.S. energy secretary, Samuel Bodman, said he would not ask the Organization of Petroleum Exporting Countries to pump more. "We have encouraged producing nations to keep oil markets well supplied," he said. "I think they've done that." An OPEC statement after Monday's talks said that production was "well in excess of actual demand." iht.com

To: Dale Baker who wrote (45796)	4/26/2006 4:46:09 AM
From: Lynn	Respond to of 118717

"OT - Is anyone else getting tired of everyone and their brother on SI changing their screen name?" So this is what's happening. Lately I've been noticing new names on a few threads. Checking a few profiles, I've been bewildered when it shows how long some have been members and the number of postings they have made to the thread. Yesterday REALLY had me scratching my head: Someone made a posting to the SUNW thread. As far as I was concerned, he/she was a new poster there (and possibly new to SI). Checking the person's profile, however, this totally new screen name to me had made over 5,000 postings to the SUNW thread. One thing I dislike about Yahoo! stock message boards is that people can play games by posting under various screen names. I am sorry to now learn that SI is letting people flip screen names. SI should add a line on the profile page that notes a date for the person's screen name activation. For many of us it would be the same as our SI joining date. For people who switch screen names, their screen name date would be a give away--and if there was a good reason for changing screen names, this could be noted in existing space on the profile page. Lynn