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Gold/Mining/Energy : Harken Energy Corporation (HEC) -- Ignore unavailable to you. Want to Upgrade?

To: Razorbak who wrote (3487)	8/29/1998 10:55:00 AM
From: Zeev Hed	Read Replies (1) \| Respond to of 5504

The rim was growing at 7% per year before last October, Russia's internal consumption, after a decline post the "counter revolution" was stabilizing as well, and not declining any more. China was also a major growth engine (and net importer). Now we have the rim at a "negative growth" of anywhere from 2% (Japan) to more than 7% (Korea). Indonesia, they do not even know how much contraction, I have seen forecasts of 20% for next year. That means they'll pour their oil on the world market. There was a little hope that the floods in China will force them on the world market, but they are slowing their growth from close to 7% (and much more in prior years) to something under 5%. Thus, over the next 12 months, you will still see pressure on the supply side. No shame in those turnips, they do not use crude as "feedstock" (VBG). Zeev