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Microcap & Penny Stocks : Green Oasis Environmental, Inc. (GRNO) -- Ignore unavailable to you. Want to Upgrade?

To: Charles A. King who wrote (9852)	9/14/1998 5:41:00 PM
From: Norman H. Hostetler	Read Replies (1) \| Respond to of 13091

Charles, I went through the economics of a GRNO processor in Indonesia with the CEO of a company there that might have been interested. Our conclusion was that as long as diesel fuel is being heavily subsidized by the state, the processor won't make any money. There was also the problem of the Suharto children, whose oligarchy was only beginning to be challenged when I was there in May, so that anybody else sniffing around the oil producing and distributing business did so at considerable peril. So we dropped it. But both of us thought there would be a lot of good prospects elsewhere in Asia, and that the cost-cutting required by the economic retrenchment might even make a waste oil processor more attractive as a contribution to the reduction of imports. =+=+=Norm

To: Charles A. King who wrote (9852)	9/15/1998 11:07:00 AM
From: Charles A. King	Read Replies (2) \| Respond to of 13091

The dollar price of oil is still holding, but OPEC might reduce oil production further. nando.net OPEC may cut oil production further Copyright c 1998 Nando.net Copyright c 1998 The Associated Press SINGAPORE (September 15, 1998 10:37 a.m. EDT nandotimes.com) -- OPEC said Tuesday that it may cut production further to prop up the falling price of oil, the president of the 11-nation cartel said. Facing a glut of oil on world markets and reduced demand because of the economic crisis in Asia, OPEC ministers might decide to take further action when they meet in November, said Obaid bin Saif al-Nasseri, who is also oil minister of the United Arab Emirates. "It might be possible to look for more cuts," al-Nasseri told reporters while attending the Asia-Pacific Petroleum Conference. The Organization of Petroleum Exporting Countries pledged in June to cut output by 2.6 million barrels a day to drive up flagging oil prices, which are near 10-year lows. Non-OPEC countries, including Mexico and Russia, pledged another 500,000 barrels per day in cuts. World oil prices started to plummet last year, dropping from $25 per barrel in 1997 to between $12 and $14 per barrel this year, because production had increased while demand -- notably from struggling Asia -- subsided. The move by OPEC to cut production, which took effect July 1 and has now been mostly implemented, aims at driving the price back to about $18 per barrel. It has so far been mostly ineffective. "The current low oil price environment is unacceptable to our countries," al-Nasseri told the conference Tuesday. He stressed the significance of the Asian economic debacle on the current volatility in oil prices, emphasizing that 40 percent of OPEC crude oil was exported to Asia last year. Al-Nasseri also said OPEC members had in the past increased oil production capacity on the assumption that rapid economic growth in the Asia-Pacific region would continue. But he said the region's energy demand will fall well below pre-crisis forecast levels.