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To: lorne who wrote (34167)	5/19/1999 12:19:00 PM
From: Ahda	Respond to of 116814

Lorne the one question I would ask you in regards to this statement would be is not the US the world unified. USA and Canada are melting pots. Is it not the peoples of these very nations that live here that took advantage of the knowledge they acquired of abilities of their own nation and utilized those here? So if we are burdened by debt the reality is it is not the present debt that will destroy but continued financing of new debt due to potential surplus and deflation. The age of technology.

To: lorne who wrote (34167)	5/19/1999 12:33:00 PM
From: Alex	Respond to of 116814

OPEC'S LUKMAN: EXPECTING 'MUCH HIGHER' OIL PRICE BY YEAR END By Jon Hurdle LONDON (MktNews) - OPEC Secretary-General Rilwanu Lukman Wednesday expressed satisfaction with the latest round of world oil production cuts and predicted prices will continue to strengthen. In an interview with CNN from OPEC's Vienna headquarters, Lukman predicted world oil prices would rise by "another dollar or two" from the current $16-17 a barrel over the next two to three months and that prices would "continue to move up" in the second half of the year as the "driving season" gets underway. Asked to comment on the reported Saudi aim for the price to reach $18-20 a barrel, Lukman said that level was "not too much to hope for." He added, "In the event of that happening we will be satisfied that our agreement has hit the target." Earlier this year, OPEC cut production by around 2 million barrels a day in an effort to bolster sagging prices which have since risen to around $16 a barrel. He said he is satisfied with the compliance of OPEC member countries with the agreement, and estimated the compliance rate at 80-85% "at the minimum." He said it is too early to modify the agreement, and noted that oil stocks are still too high "and it will take time before these are completely removed in order to stabilise the markets at the levels we are looking for." He added, "We believe that as time goes on and the stock levels are broken down, prices will continue to strengthen and by the end of the year we are looking at much higher prices than we are experiencing right now." Lukman declined to predict what might happen to prices next year but said, "Our idea is that prices should stay stable and reasonable at levels that will continue to encourage our member countries to invest in additional capacity that will be required in the future." [TOPICS: MI$$$$] 03:24 EDT 05/19 © 1999 Market News Service, Inc. economeister.com