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To: Larry Brew who wrote (4246)	1/30/1998 5:13:00 PM
From: Stephen Mecca	Read Replies (1) \| Respond to of 14451

Stephen, << another gulf war and oil >> Larry, If I'm understanding you correctly, you're saying that oil prices will not skyrocket as they did in 1990 if there is another war because of 4x the reserves held by US. I would agree our oil reserve level is the main factor in determining a) the price of a barrel of crude oil and b) the amount we pay at the pump per gallon in times of peace or at least relative stability. However, any major instability in the Persain Gulf region, which accounts for about 33% (?) of the world crude oil supply (and >50% of the US supply) will send the price of both crude oil and gas at the pump up significantly. If I misundertood your point, please ignore what I said and enlighten me (I'm just gtting over the flu). Thanks.