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To: VLAD who wrote (30615)	10/11/1998 10:25:00 PM
From: Richard D	Respond to of 95453

On NY Time front page online: U.S. Bid to Build Caspian Pipeline Appears to Fail By STEPHEN KINZER WASHINGTON -- A two-year campaign by the Clinton administration to convince major oil companies that they should quickly build a multi-billion-dollar pipeline in the Caucasus, a campaign that has become a centerpiece of American foreign policy, appears to be on the brink of failure. Companies from the United States and seven other nations are to make a decision later this month about how to begin transporting the vast amounts of oil that are believed to lie under and around the Caspian Sea. For the region's fragile new nations, wedged between Russia and Iran, the decision may be a momentous turning point. . . . (see article for the rest) Also, Japan up over 4 percent tonight based on Prime Minister Obuchi's plan to set aside 67 trillion yen for the ailing bank system. Richard