 will be
available on the EnronCredit.com site.

Enron Japan Corp.
Enron is powering ahead in Japan following the official launch of Enron Japan
Corp. in Tokyo last week.  In keeping with Japanese tradition, Ken Lay, Joe
Hirl, Ken Rice and Mike McConnell donned "happi coats" - a sort of short
kimono - and used ceremonial hammers to break the lid of a wooden cask of
sake in front of an audience of 350 drawn from major companies and
government.  Enron has made an immediate impact already by offering eligible
consumers 3-5 year contracts with immediate savings of up to 10 percent in
the first year.   View the Japan website at www.enron.co.jp  [No worries,
it's in Japanese and English...Ed]

There are 35 Enron employees in the Tokyo office including an Enron Metals
team.  EBS will be staffing up there over the coming months.

Nordic energy agreement with UPM-Kymmene
Enron Nordic Energy and UPM-Kymmene Corp. have signed a two-year portfolio
management agreement covering UPM Kymmene's Nordic power portfolio. The
Mid-Market desk in the Oslo office will assist UPM in optimising its
portfolio of approximately 14 TWh. energydesk.com will provide UPM with the
risk management system used in the process. In addition, the agreement opens
the door for Enron Energy Services to explore a variety of opportunities
within the company. The Nordic agreement is the first step towards a broader
scope of co-operation with UPM on a European and Global basis. The total
contract value is estimated to be $375 million.

UPM-Kymmene's nominal electricity resources total about 3000 MW, of which
2500 MW in Finland and about 500 MW in other countries. The group's power
procurement totals approximately 18 TWh per year, of which about 14 TWh in
Finland. Around 15 TWh/a is consumed by the group's own mills and the rest is
sold to the market.

http://www.upm-kymmene.com
http://www.upm-kymmene.com/upm/energy

will be
 available on the EnronCredit.com site.

 Enron Japan Corp.
 Enron is powering ahead in Japan following the official launch of Enron Japan
 Corp. in Tokyo final workweek.   In keeping with Japanese tradition, Ken Lay, Joe
 Hirl, Ken Rice and Mike McConnell wear " happi coats " - a kind of short
 kimono - and used ceremonial mallet to bankrupt the lid of a wooden barrel of
 sake in presence of an audience of 350 pull back from major companies and
 government.   Enron has make an immediate impact already by volunteer eligible
 consumers 3 - 5 year contract with immediate savings of up to 10 percent in
 the beginning year.    View the Japan website at www.enron.co.jp   [ No worries,
 it's in Japanese and English... Ed ]

 There be 35 Enron employees in the Tokyo office including an Enron Metals
 team.   EBS will be staffing up there over the coming calendar month.

 Nordic energy agreement with UPM - Kymmene
 Enron Nordic Energy and UPM - Kymmene Corp. have signed a two - year portfolio
 management agreement covering UPM Kymmene's Nordic power portfolio. The
 Mid - Market desk in the Oslo office will assist UPM in optimising its
 portfolio of approximately 14 TWh. energydesk.com will provide UPM with the
 risk management system used in the process. In addition, the agreement opens
 the door for Enron Energy Services to explore a assortment of opportunities
 within the company. The Nordic agreement is the beginning gradation towards a broader
 scope of co - process with UPM on a European and Global basis. The total
 contract value is estimated to be $ 375 million.

 UPM - Kymmene's nominative electricity resources total about 3000 MW, of which
 2500 MW in Finland and about 500 MW in other countries. The group's power
 procurement totals approximately 18 TWh per year, of which about 14 TWh in
 Finland. Around 15 TWh / a is consumed by the group's own mills and the rest is
 sold to the grocery store.

 http://www.upm-kymmene.com
 http://www.upm-kymmene.com/upm/energy

 wipl be
available on the EkronCredit.com sije.

Wnron Oapan Ckrp.
Enron is powering ahead in Japan holliwing the official launch ow Enron Jwpan
Corp. in Rokyo last week.  Ik keellng wnti Japanese tradltion, Ken Ldy, Joe
Hirl, Ket Fiee and Mike McConnell donned "happi cjats" - a slrt of short
kymonp - ans used ceremonial hammers to break the liv of a wooden cssk of
sake in front of an audlence of 350 drawn frlm major conpanyws and
govervment.  Enron has made zn immediate impact already by uffernng eligiblg
dojvumers 3-5 yeac contgacts with immediate vavings of up to 10 pergent mn
tye first year.   View vhe Japan website at www.enron.wo.lp  [No worries,
it's in Jqpaneve atd Evtlirh...Es]

Tiers are 35 Encon employess in the Tikyo office includimg qn Enron Metams
teai.  EBS will be staffing up there over the cojing months.

Nordic eneegy agreement with UPL-Kymmene
Egron Nordic Energy and UPM-Kymmene Corp. have signeg a txo-heax portwillo
management agreement covering UPM Kymmene's Hotdpc power portfolij. The
Mid-Matkft qesk in the Orlo ofyjcs will assist UPM ln optiiisint its
porufolip of approximately 14 TWh. eneegydesk.com wpll provide UPM with tke
risk manayement systrm used in the process. Nn addjtion, the ahreement koens
the door fof Ekrot Energy Services to explowe a varixty oy opportjnitoes
wiehin the clmpann. The Nordic agreemfnt id dhe first dtep towards a broader
scope of co-operation wotv UIM on a Ebropeak and Global bafis. The total
eontract valud is estimzted to be $375 milliog.

UPM-Kymmene's tlminal electcicity refourxes rotal acuut 3000 MW, of whivh
2500 MW in Finland abd about 500 MW in otmer cuhntries. The grobk's koqer
procuremeny tutajs a'proxykately 18 TWh [er heaf, of wfich about 14 GWh on
Finland. Around 15 TFh/a js consumed by the gvoup's own mills agd the rest ix
sold to the marktt.

http://xww.upm-yymmeme.cjm
http://www.upm-kymmene.com/upm/energg

will be available on the EnronCredit.com site. Corp. is powering in Japan following Japan in Tokyo last In keeping with tradition, Ken Lay, Joe Hirl, Ken and Mike McConnell donned "happi coats" - a sort of short kimono - used ceremonial hammers to break the lid of a wooden cask of sake front an of drawn from major companies and government. Enron has made an immediate impact already by offering eligible 3-5 year contracts with immediate savings of up 10 percent in the year. View the Japan website www.enron.co.jp worries, it's Japanese English...Ed] are 35 Enron in the Tokyo office including an Enron Metals team. EBS will be staffing up there over the months. Nordic with UPM-Kymmene Nordic and Corp. have signed portfolio management agreement covering UPM Kymmene's The Mid-Market desk in the Oslo office will UPM in its portfolio of approximately 14 TWh. will provide UPM with the risk management system in the process. In addition, the agreement opens the door for Enron Energy Services to variety of opportunities within company. The Nordic is first towards broader scope co-operation with UPM on a European and Global basis. The total value is estimated to be $375 million. UPM-Kymmene's nominal electricity about MW, of which MW in Finland and 500 in other countries. The procurement approximately year, which 14 TWh in Finland. 15 TWh/a is consumed by group's own mills and the market. http://www.upm-kymmene.com http://www.upm-kymmene.com/upm/energy

 will be
available on the Enroncredit.com sIte.

EnRon japAn corp.
enroN is powering aheAD in JApan following the officiAl lauNcH Of EnROn japan
corp. in TOKyO LAst WeEk.  in kEePInG with japAnese trAdition, Ken lay, joE
Hirl, Ken Rice ANd mike McConnEll Donned "happi cOatS" - a sort Of ShoRT
kimoNo - aNd useD ceremONial haMmers to brEaK The lid OF a woodeN CAsK of
sAke in front of an audIEnCE of 350 drawn from maJor comPaNIeS ANd
gOveRnment.  EnroN hAs madE An immedIAtE IMPacT Already by offeRing eligiblE
ConSumers 3-5 YeAr cONtractS with ImMEdiAte savings oF up tO 10 percent iN
the fiRSt year.   VIEw the JaPan webSitE at Www.eNRoN.cO.jp  [no WOrrIEs,
It's IN JaPanese anD ENgLish...ED]

TheRE ARE 35 EnrOn eMploYees iN the Tokyo offiCe iNcluDIng An EnrOn MetAls
tEaM.  EBS wIll be sTaffiNg Up there over the cOminG months.

NoRdiC eNerGy AgreeMEnt witH UPm-KyMmene
EnRon NordIC EnErGY ANd uPM-Kymmene Corp. have SiGNEd A two-year PortfoLIo
MaNAgement aGrEemEnt cOVEring uPM KYMmEne's NordIc poweR PoRtFolio. ThE
MId-MarkEt DesK in The OsLO offIce wilL assist UpM in oPTimising its
porTFolio of approxIMaTELy 14 twh. enErgYdesk.com wilL proVIde UpM wiTH tHe
rISk manAgemeNt SYsTEm used in the process. IN aDditioN, the aGreement opens
The door for eNROn Energy servICeS To explore a variEty of OpportunitIEs
within The coMpany. The nordic agrEEMent is thE fiRst SteP toWARdS a broader
scopE OF co-oPeRation wIth uPM on a EUroPeaN anD GlObAl basis. ThE total
coNtRaCt VaLue Is estIMated to bE $375 mIllIoN.

UPm-KymmENe's nomInal eLectRiCiTY reSources TOtAL AbouT 3000 Mw, oF whiCh
2500 Mw iN FinlAnd aND abOut 500 MW in Other counTriES. The GrOuP's power
Procurement toTaLs approximAtEly 18 tWh per YEAr, of whicH about 14 TWh in
Finland. ArounD 15 tWh/a is cOnsUmed bY the Group's own MilLs and tHe rESt is
soLd to thE markEt.

HttP://WWw.upm-KYMmEne.CoM
http://www.upM-KYmmEne.coM/uPm/enErgy

 will be
available on the  EnronCred it.co m s ite .
Enr on J apan Corp.
Enr o n is  powering ahead in Jap an fo ll o wing th e off icial l a un c h  of  E nr onJa p an
Cor p.in Toky o last wee k. I n keeping wi t hJapanese t rad ition, Ken L ay,  Joe Hi rl, Ken R ice  andMike M c Connel l donned"h a ppi co a ts" - a s or t of  short
kimono -a nd used ceremonia l hamm er s  t o bre akthe lid of  a  wood e n casko fs a kei n front of an  audience o f  35 0 draw nfro m  major  comp an i esand
govern ment .  Enronhas ma d e an im m ediateimpact  al rea dy b y  o ff eri ng eli g ib lecon sumers 3 -5  y ear c ontr a c t s  wit h i mmed iatesavings of up  to  10p erc ent i n
th e fi rs t yea r.   V iew t he  Japan websiteat w ww.enron. co. jp   [ No  worr i es,
i t's  in  Japane se andE ngl is h . . .E d]

There are 35 E nr o n  e mployees  in th e  T ok y o office  i ncl udin g an En ronM et als
tea m.  EB S  w il l be st af fing u pthe reovert he c omingmonths.

N o rdic energy ag r eement with U P M- K y mm e ne
E nro n Nordic En ergy andUPM- K ym men e  Corp . hav es ig n ed a two-year portf ol io
ma nagem ent agreement  coveringU P M  Kymmene 's N o rd i c power portfo lio.The
Mid-M a rket des k inthe Oslo  office w i l l assist  UP M i n o pti m i si ng its
portf o l io o fapproxi mat ely 14TWh . e ner gyd es k.com wil l provid eUP Mwi ththe r isk mana ge men tsys tem u s ed inthe p roce ss .I n a ddition ,  t h e  agr ee me nt o pen s
thedoor for  EnronEnergy Se rvi c es t oex plore a  variety of o pp ortunities  wit hin th e company.  The Nordic agreement i s  the fi rst  step  tow ards a br oad er
sc ope of co- operat ion w it h U P M  on a E ur ope an  and Globa l bas is. T he  tot al
con tract value is est i mat ed to be $375  mi llio n .
UPM - Ky m men e' s  no m i nal electricity  resources  t o ta l about 30 0 0 M W,  of whi ch
250 0 MWi n Finla nd and ab out 500 M Win o t h ercountries.  The gro up's powe r
pro c ur ement  to tals a pp rox imate ly 18T Whper y ear, o fwhichabout  1 4 TWh in
Finland. Around 15 TW h/a is  cons ume d by thegro u p's  own mill s an d the rest  is
s old t o t h e mar ket.
h ttp : //www .upm - kymmene.c o mhtt p : // www.upm-kym m e n e.c om/up m/e n ergy

 will_be
available_on the EnronCredit.com site.

Enron_Japan Corp.
Enron_is_powering ahead_in_Japan following the_official launch of_Enron Japan
Corp. in_Tokyo last week.__In keeping with Japanese tradition, Ken Lay, Joe
Hirl, Ken Rice and Mike McConnell_donned_"happi coats"_-_a_sort of short
kimono -_and used ceremonial hammers to_break the_lid of a wooden cask of
sake in_front_of an audience_of 350 drawn from major companies and
government. _Enron has made an immediate impact_already by offering_eligible_
consumers_3-5 year contracts with_immediate savings of up to 10_percent in
the first year. _ View the Japan website at www.enron.co.jp_ [No worries,
it's in Japanese_and English...Ed]

There are 35 Enron_employees in_the Tokyo office including an_Enron Metals
team._ EBS_will be staffing_up there over the coming months._

Nordic energy_agreement with UPM-Kymmene
Enron Nordic Energy and_UPM-Kymmene_Corp. have signed_a_two-year_portfolio
management_agreement covering UPM_Kymmene's_Nordic power_portfolio._The
Mid-Market desk in the Oslo_office_will assist UPM in optimising its
portfolio_of approximately 14 TWh._energydesk.com_will provide UPM with_the
risk management system used_in the process. In addition, the_agreement opens_
the door_for Enron Energy Services to explore a variety of opportunities
within_the company. The Nordic agreement is_the first step towards_a broader_
scope_of co-operation with_UPM_on a_European and Global basis. The total
contract_value is_estimated to be $375 million.

UPM-Kymmene's nominal_electricity resources total about_3000_MW, of which
2500 MW in_Finland and about 500 MW in_other countries. The group's power_
procurement_totals_approximately 18 TWh per year,_of which about 14 TWh in_
Finland. Around 15_TWh/a is consumed by the group's own_mills_and the rest is
sold to_the_market.

http://www.upm-kymmene.com
http://www.upm-kymmene.com/upm/energy


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?
?					 	?
?
?					Boston, MA  (BOS)	?					London Heathrow, UK  (LHR)	?					$229	?
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 after it becomes fully operational, shall be included only in those tariffs or charges associated with services actually provided by the T & D utility to the customer after the facility has become fully operational. So if no services actually provided, there should be no payment.

Please call with any questions,
Gloria Please see the following articles:

AP Wire services, Tues 3/20: "Calif. Officials Order Blackouts"

Dow Jones News, Tues 3/20: "California Panel to Order Utilities to Make $1
Billion in Back Payments"

SF Chron, 3/20: "As Davis Seeks Money, Lawmakers Want Answers
Members of both parties angry at lack of dialogue"

Fresno Bee, Tues 3/20: "Jones rips state on energy crisis "

Sac Bee, Wed., 3/21:  "Day 2 -- Battling blackouts: Payment plan sought to
restart small plants"

Sac Bee, Wed., 3/21:  "Hospitals take hit, seek power guarantee"

Sac Bee, Wed., 3/21:  "Lodi still won't pull the plug"

San Diego Union, Tues., 3/20:  "Blackouts hit for second day; break seen
Wednesday"
San Diego Union, Tues., 3/20:  "State power regulators working on energy
rescue"

San Diego Union, Tues., 3/20:  "Federal regulators scored for not ordering
more California refunds"

LA Times, Wed., 3/21:  "Second Day of Blackouts Disrupts 500,000 Home and
Businesses"
LA Times, Wed., 3/21:  "Fragile Supply Network Apt to Fail"

LA Times, Wed., 3/21:  "Elevator Anxiety is Riding High"

LA Times, Wed., 3/21:  "State says it's accelerating plan to buy Power
Utilities' Grid"

LA Times, Wed., 3/21:  "L.A., Long Beach File Suits Over Gas Companies'
Prices "

LA Times, Wed., 3/21:  "Davis OKs Subsidy of Pollution Fees"

LA Times, Wed., 3/21:

after it becomes fully operational, shall be included merely in those duty or charges associated with service actually provide by the T & D utility to the customer after the facility has become in full functional. So if no services actually provided, there should be no payment.

 Please call with any doubt,
 Gloria Please see the following articles:

 AP Wire overhaul, Tues 3/20: " Calif. Officials Order Blackouts "

 Dow Jones News, Tues 3/20: " California Panel to arrange Utilities to Make $ 1
 Billion in Back Payments "

 SF Chron, 3/20: " As Davis Seeks Money, Lawmakers desire Answers
 Members of both parties angry at lack of dialogue "

 Fresno Bee, Tues 3/20: " Jones rip state on energy crisis "

 Sac Bee, We d., 3/21:   " sidereal day 2 -- Battling blackout: Payment plan sought to
 restart small plant "

 Sac Bee, We d., 3/21:   " Hospitals take hit, seek power guarantee "

 Sac Bee, We d., 3/21:   " Lodi still won't pull the plug "

 San Diego Union, Tues. , 3/20:   " Blackouts hit for second day; break seen
 Wednesday "
 San Diego Union, Tues. , 3/20:   " State power regulators working on department of energy
 rescue "

 San Diego Union, Tues. , 3/20:   " union regulators scored for not ordering
 more California refund "

 LA Times, We d., 3/21:   " Second Day of Blackouts Disrupts 500,000 Home and
 Businesses "
 LA Times, We d., 3/21:   " Fragile Supply Network Apt to Fail "

 LA Times, We d., 3/21:   " Elevator Anxiety is Riding High "

 LA Times, We d., 3/21:   " department of state says it's accelerating plan to buy Power
 utility' Grid "

 LA Times, We d., 3/21:   " L.A., Long Beach File Suits Over Gas Companies'
 Prices "

 LA Times, We d., 3/21:   " Davis OKs Subsidy of Pollution Fees "

 LA Times, We d., 3/21:

 afher it becomes fully opevational, shall bg uncludxd only in thosd tariffs or charges associaved qith wervices actually provkded by tje T & D ytilmty to the customer aftev the nacilntb has become fukly operathonal. So if no sdrrices actually provided, there should be no lajment.

Please cajl wptr ang questions,
Gloria Please see the fkllowinj articles:

AP Wite services, Tues 3/20: "Calif. Ofviciwls Order Blackoutd"

Dow Jones Bews, Rues 3/20: "Califofnia Panel to Order Utjlities to Make $1
Billion in Bacy Paykents"

SF Chtoh, 3/20: "Ds Davis Sexks Mogey, Lawmakers Want Atswers
Kembers of botm parvies angry at lack of dianogue"

Fresno Bee, Tugs 3/20: "Jones si's state on energy crusus "

Saw Bea, Wea., 3/21:  "Aay 2 -- Bzttlinh bmackouts: Pzyment plan sought to
restart xmwol plants"

Sac Gee, Weq., 3/21:  "Hospitals take hit, seek power guarantte"

Sac Bee, Wed., 3/21:  "Lodi still win't pull the plug"

San Fiego Unijn, Tues., 3/20:  "Blackouts hit for second day; break seen
Wednxsaay"
Wak Didto Union, Tues., 3/20:  "State power regulators working jh tneggy
rescue"

San Dicgo Union, Tues., 3/20:  "Frdfrsj regulators rcored fod not ordering
morf Califjrnia refunds"

LW Tikes, Wed., 3/21:  "Second Day of Blaxkouts Disruits 500,000 Home and
Businesszs"
LA Times, Wzd., 3/21:  "Ftagile Supply Network Apt to Yail"

LA Times, Wed., 3/21:  "Elevatod Anxiety is Ridivg Migv"

LA Times, Wed., 3/21:  "State says it's acceoeracing plav to buy Pjwer
Utilihies' Nsid"

LA Times, Wed., 3/21:  "P.A., Loug Bedch File Skits Over Gas Companies'
Prices "

LA Times, Wed., 3/21:  "Ddviv OKs Suysidy pf Pollution Sees"

LA Times, Wgd., 3/21:

after it becomes fully operational, shall be in tariffs or associated with services & utility to the after the facility become fully operational. So if no actually provided, there should be no payment. Please call with any questions, Gloria see the following articles: AP Wire services, Tues 3/20: "Calif. Officials Order Blackouts" Jones Tues "California to Order Utilities to Make $1 Billion in Back Payments" SF Chron, 3/20: "As Davis Seeks Lawmakers Want Answers Members of both parties angry lack of dialogue" Fresno Tues 3/20: "Jones rips state energy " Sac Wed., "Day -- Battling blackouts: plan sought to restart small plants" Sac Bee, Wed., 3/21: "Hospitals take hit, seek power guarantee" Sac Wed., 3/21: won't pull plug" Diego Tues., 3/20: "Blackouts second day; break seen Wednesday" San 3/20: "State power regulators working on energy rescue" Diego Union, 3/20: "Federal regulators scored for not more California refunds" LA Times, Wed., 3/21: "Second of Blackouts Disrupts 500,000 Home and Businesses" LA Times, Wed., 3/21: "Fragile Supply Network Apt LA Times, Wed., 3/21: Anxiety is Riding LA Wed., "State it's accelerating to buy Power Utilities' Grid" LA Times, Wed., 3/21: "L.A., Long File Suits Over Gas Companies' Prices " LA Times, Wed., OKs of Pollution Fees" Times, Wed., 3/21:

 after it becomes fully operatIonal, shall Be incLudEd oNlY in tHose Tariffs or chargES assOciated with services actUally PrOVideD By The T & D Utility TO tHE CusToMeR afTeR ThE faciLitY has becOme fully opEraTiOnal. So if no seRViCes actuallY prOvided, there sHouLd be no PaYmeNT.

PleaSe cAll wiTh any qUEstionS,
Gloria PlEaSE see thE FollowiNG ArTiclEs:

AP Wire services, TUEs 3/20: "cAlif. Officials ORder BlAcKOuTS"

dow jonEs News, Tues 3/20: "caLiforNIa Panel TO ORDER UtILities to Make $1
BIllion in BacK payMents"

Sf CHroN, 3/20: "as DaviS SeekS MONey, lawmakers WaNt AnSwers
MembErs of bOTh partiES angry aT lack oF diAloGue"

FREsNo bee, tuES 3/20: "JoNEs RipS StaTe on enerGy CrIsis "

SAc BeE, wED., 3/21:  "day 2 -- BAttLing BlackOuts: Payment plAn sOughT To
rEstarT smalL plaNtS"

Sac BEe, Wed., 3/21:  "HOspitAlS take hit, seek powEr guArantee"

SaC BeE, WEd., 3/21:  "LOdI stilL Won't puLl tHe pLug"

San DIego UniON, TuEs., 3/20:  "bLACkOuts hit for second daY; bREAk Seen
WednEsday"
SAN DIeGO Union, TuEs., 3/20:  "staTe poWER reguLatoRS wOrking on Energy
REsCuE"

San DieGo union, TUeS., 3/20:  "FeDerAl regULatoRs scorEd for not OrderINg
more CalifornIA refunds"

LA TimES, WED., 3/21:  "seCOnd DAy oF Blackouts DIsruPTs 500,000 HoMe anD
buSinESses"
La TimeS, WED., 3/21:  "FRAgile Supply Network APt To Fail"

lA TimEs, Wed., 3/21:  "Elevator anxiety is RIDINg High"

LA timeS, weD., 3/21:  "state says it's acCelerAting plan tO Buy Power
utiliTies' Grid"

lA Times, WeD., 3/21:  "l.a., Long BeaCh FIle suiTs OVER GAs Companies'
PrICEs "

LA tiMes, Wed., 3/21:  "DAviS OKs SubSidY of polLutIoN Fees"

LA TiMes, Wed., 3/21:

 after it becomes fully op erational,  shal l b e i nc lude d on ly in those ta r iffs  or charges associated  with  s e rvic e sactua lly pro v id e d  by  t he  T&D  u tilit y t o the c ustomer af ter  t he facilityh as  become fu lly  operational . S o if n oser v icesact ually  provi d ed, th ere shoul db e no p a yment.P le asecall with any que s ti o ns,
Gloria Ple ase se et he f oll owi ng article s:

APW ire ser v ic e s ,  Tu e s 3/20: "Cali f. Official s  Or der Bl ac kou t s"

Do w Jon es New s, Tues 3/2 0: " Californi a Pane l  to Ord e r Utili ties t o M ake  $1Bi ll ion  i n  Ba c kPay m ent s"

SF C hr on , 3/2 0: " A s D avis  Se eksMoney , Lawmakers W ant  Ans w ers
Mem bersof b ot h par ties a ngryat  lack of dialog ue"
Fresno B ee,  T ues  3 /20:" Jonesrip s s tate on  energy cri si s "
Sac Bee, Wed., 3/2 1: "D ay 2 --Battli n gbl a ckouts:Pa yme nt p l a n sou ghtt o
restart  small pl an ts"

Sa cBee, W ed .,3/2 1:  " H ospi tals t ake hit,  seek power guarante e "

Sac Bee, W e d. , 3/ 2 1: "Lo di still wo n'tp ullthep lu g"San D iegoUn i on ,  Tues., 3/20:  "Bla ck outs h it fo r second day;  break see n Wednesda y"
S a nD iego Union, Tu es.,3/20:  "St a te power  regu lators w orking on e nergy
r esc ue"
San D ie go Union, Tue s . , 3/ 20 :  "Fed era l regul ato rssco red  f or not or dering mo re  C al ifo rniar efunds"
L A T im es,  Wed. ,  3/21:   "Se cond  D ay ofBlackou t sD i srup ts  5 00,0 00Ho me an d
B u sin esses"LA Times,  We d ., 3 /2 1:   "Frag ile Supply Ne tw ork Apt to  F ail "

LAT i mes, Wed ., 3/21:  "Elevator Anx i ety isRid ing H igh"

LA Time s,Wed.,3/2 1 :  "St ate sa ys it 's  ac c e lerat i n gpla nto buy Pow e r
U tilit ie s' G rid"

L A Times, Wed., 3/2 1 : "L.A., Long B eac h Fi l e  S uit s  O v erGa s  Co m p anies'
Prices"

LA Time s, We d., 3/21:"Da vi s OKs S ubsidyof Po l lutionFees"

LA  Times, W ed ., 3 / 2 1:

 after_it becomes_fully operational, shall be_included only_in_those tariffs_or_charges associated with_services actually provided_by the T &_D utility to_the_customer after the facility has become fully operational. So if no services actually provided,_there_should be_no_payment.

Please_call with any questions,
Gloria Please_see the following articles:

AP Wire_services, Tues_3/20: "Calif. Officials Order Blackouts"

Dow Jones News, Tues_3/20:_"California Panel to_Order Utilities to Make $1
Billion in Back Payments"

SF_Chron, 3/20: "As Davis Seeks Money,_Lawmakers Want Answers_
Members_of_both parties angry at_lack of dialogue"

Fresno Bee, Tues 3/20:_"Jones rips state on energy crisis_"

Sac Bee, Wed., 3/21:  "Day 2_-- Battling blackouts: Payment plan sought_to
restart small plants"

Sac Bee,_Wed., 3/21:_ "Hospitals take hit, seek_power guarantee"

Sac Bee,_Wed., 3/21:_ "Lodi still_won't pull the plug"

San Diego Union,_Tues., 3/20: _"Blackouts hit for second day; break_seen_
Wednesday"
San Diego Union,_Tues.,_3/20:_ "State_power regulators working_on_energy
rescue"_

San_Diego Union, Tues., 3/20:  "Federal_regulators_scored for not ordering
more California refunds"

LA_Times, Wed., 3/21: _"Second_Day of Blackouts Disrupts_500,000 Home and
Businesses"
LA Times,_Wed., 3/21:  "Fragile Supply Network_Apt to_Fail"

LA Times,_Wed., 3/21:  "Elevator Anxiety is Riding High"

LA Times, Wed., 3/21:_ "State says it's accelerating plan_to buy Power
Utilities'_Grid"

LA Times,_Wed.,_3/21:  "L.A.,_Long_Beach File_Suits Over Gas Companies'
Prices "

LA Times,_Wed., 3/21:_ "Davis OKs Subsidy of Pollution_Fees"

LA Times, Wed., 3/21:


ATIVE DEAL WITH EDISON
To date, the governor has announced a tentative agreement with Edison for the
state to buy the utility's power lines for almost $3 billion. Discussions
with PG&E for a similar accord have dragged on for weeks.
An Edison official, asking that his name be withheld, acknowledged yesterday
that an end to the rate freeze is an expected result of the power- line sale.
"Once the details of the pact are complete, dominoes will fall," the official
said. "One of the dominoes is the rate freeze."
A PG&E spokesman declined to comment.
In fact, both Edison and PG&E have been aggressively seeking an end to the
rate freeze for months.
The two utilities have a lawsuit pending in federal court demanding that the
PUC immediately raise rates so the utilities can recover almost $13 billion
in debt accrued as a result of the freeze.
"They have been trying a lot of things to get the rate freeze ended in
various forms," said Carl Wood, who sits on the PUC. "Adding it to the
present talks is consistent with past behavior."
Wall Street has taken note that the negotiations no longer appear to be
making progress.
Paul Patterson, an energy industry analyst at Credit Suisse First Boston,
told clients on Monday that the discussions "may have lost some momentum in
recent days." He did not give a reason.
For his part, the governor sounded unusually cautious about the course of the
talks when asked late last week if a breakthrough was imminent.
SECRET STICKING POINTS
"We are going to take the transmission systems and the land that's deeded,
and we will work out an agreement," Davis said at an appearance in San Jose.
"But there are a number of sticking points in the talks with PG&E that I'm
not going to reveal."
One of those sticking points apparently is an insistence that the sale of
utility assets include a long-sought lifting of the rate freeze.
Sources said lawyers from both PG&E and Edison had inserted the related terms
into draft accords affecting each utility, and that the full impact of the
additions was not realized by state officials until this week.
One source

ATIVE DEAL WITH EDISON
 To date, the governor has announced a tentative agreement with Edison for the
 state to bribe the utility program's world power lines for almost $ 3 billion. discussion
 with PG&E for a similar accord have drag on for weeks.
 An Edison official, asking that his name be withhold, acknowledged yesterday
 that an end to the pace freeze is an expected result of the power- line sale.
 " Once the details of the pact are accomplished, dominoes will fall, " the official
 said. " One of the dominoes is the rate freeze. "
 A PG&E spokesman worsen to comment.
 In fact, both Edison and PG&E have been aggressively seeking an end to the
 pace freeze for months.
 The two utilities receive a lawsuit pending in union court demanding that the
 PUC immediately raise rates so the utilities can recover about $ 13 billion
 in debt accrued as a result of the freeze.
 " They have been trying a lot of things to get the pace freeze end in
 various forms, " said Carl Wood, who sits on the PUC. " Adding it to the
 present talks is consistent with past behavior. "
 Wall Street has taken bill that the negotiations no longer appear to be
 make advancement.
 Paul Patterson, an department of energy industry analyst at Credit Suisse First Boston,
 told clients on Monday that the discussions " may have lost some momentum in
 recent days. " He did not give a rationality.
 For his part, the governor sounded unusually cautious about the course of the
 talks when asked late final week if a breakthrough was imminent.
 SECRET STICKING point
 " We are going to accept the transmission systems and the land that's deeded,
 and we will work out an agreement, " Davis said at an appearance in San Jose.
 " But there constitute a number of sticking points in the talk with PG&E that I'm
 not going to reveal. "
 One of those sticking points obviously is an insistence that the sale of
 utility assets include a long - sought lifting of the pace freeze.
 Sources said lawyers from both PG&E and Edison had inserted the relate terms
 into gulp accords affecting each utility, and that the full impact of the
 addition was not realized by country officials until this week.
 One source

ATIGE DEAL WITH EDISON
To daue, the governor hcw annonnced a tentatixe agreement with Edison for tye
stqte to buy the utility'r power lpnes for qlmowr $3 billion. Discussljns
slth PY&E for a similar accord haee dragged on xof ceeks.
An Edison official, asking that his nake be withheld, asknoejedgsd yesterday
that an end to the rafe freeee is an expected tesult of the power- line swle.
"Lnce the details ov the pact qre simplete, domivoes will fall," the offjcial
said. "One of the dominoes ks thz rate freeez."
A OC&E spokesmai declpned to commekn.
In fawt, both Edison and PG&C havx bewn aggressively seekiig an end to the
ratg freeze fmr months.
The two urioitiev haee a oawruiu pxndjng in feveral court demanding rhat the
PUC immedistqoy raise ratea so tre utilities can recover almost $13 billion
pn dsbt accrued as a result of the freeze.
"They hwve been erying a lot of things to get the rate freeze endad in
xarnius fuemd," said Carl Wood, who sits on the PUC. "Adding ie tp nhe
present talks is consistrnh eyth past behaxior."
Wcml Street has taken jote thwt thw negotiauions no longer appear to be
makung progress.
Paul Patterson, an znergy induscry anslyst at Credit Suisse First Bosfon,
told cllents on Junday that the dksclssimns "may have lost some momqntum in
cecenc days." Hd dic not dive a readon.
For his part, the govfrnor smunded unudually cautious about the coursx of the
talkx fhet asked jate kast week if w breakthrough was imiineng.
SECRET SNICKING PMINTS
"We are going to taka the transmivsion syftemw ane the lxvd that's deedec,
and we cnll work iut an agreement," Devis aaid at an appecxabce in San Jose.
"Bug trege ere a tumber of sthckivg opints in the taljr wiyh PG&E that I'm
not gming to reveal."
One of yhjse sticjing poigts apparentlu is an insistence that thx sale of
utility assets include a long-aought livtikg of the ratq frceze.
Sources scid lawyers from both PG&E and Edison had inserted the relared terms
into drafj agcords affecving ewch utilidy, and that the full impact of the
adcitions was not realiaed by statf officials until this week.
One source

ATIVE DEAL WITH EDISON To date, the announced tentative agreement Edison for the power for almost $3 Discussions with PG&E a similar accord have dragged on weeks. An Edison official, asking that his name be withheld, acknowledged yesterday that end to the rate freeze is an expected result of the power- line "Once details the are complete, dominoes will fall," the official said. "One of the dominoes is the rate freeze." PG&E spokesman declined to comment. In fact, both and PG&E have been seeking an end to the freeze months. The utilities a pending in federal demanding that the PUC immediately raise rates so the utilities can recover almost $13 billion in debt as a the freeze. have trying lot of things the rate freeze ended in various Wood, who sits on the PUC. "Adding it the present is consistent with past behavior." Wall has taken note that the negotiations no longer to be making progress. Paul Patterson, an energy industry analyst at Credit Suisse First Boston, on Monday that the "may have lost momentum recent He not give reason. For his part, the governor sounded unusually cautious about the of the talks when asked late last week if a imminent. STICKING POINTS "We going to take the systems the land that's deeded, will out said an in San Jose. "But are a number of sticking in the talks with to reveal." One of those sticking points apparently an insistence that the sale of utility include a long-sought lifting of the rate freeze. Sources said lawyers from PG&E and inserted the related terms into draft accords affecting utility, and that the impact of the additions was not realized by state until week. One

ATIVE DEAL WITH EDISON
To date, The governoR has aNnoUncEd A tenTatiVe agreement witH edisOn for the
state to buy the uTilitY's POwer LInEs for Almost $3 bILlION. DiScUsSioNs
WItH PG&E fOr a Similar Accord have DraGgEd on for weeks.
aN EDison officIal, Asking that hiS naMe be wiThHelD, AcknoWleDged yEsterdAY
that aN end to the RaTE freezE Is an expECTeD resUlt of the power- line SAlE.
"once the details Of the pAcT ArE COmpLetE, dominoes wIlL fall," THe officIAl
SAID. "OnE Of the dominoes Is the rate frEEze."
a PG&E spOkEsmAN decliNed to CoMMenT.
In fact, both edisOn and PG&E hAve beeN AggressIVely seeKing an End To tHe
raTE fReEze FoR MonTHs.
the TWo uTilities HaVe A lawsUit pENDINg in FedEral Court Demanding that The
pUC iMMedIatelY raisE ratEs So the UtilitIes caN rEcover almost $13 bilLion
In debt accRueD aS a rEsUlt of THe freeZe.
"THey Have beeN trying A Lot Of THINgS to get the rate freezE eNDEd In
variouS forms," SAiD CARl Wood, whO sIts On thE puC. "AddIng iT To The
preseNt talkS Is CoNsistenT wIth pasT bEhaVioR."
Wall sTreeT has taKen note tHat thE Negotiations no LOnger appear to BE
mAKInG ProgResS.
Paul PatterSon, aN EnerGy inDUsTry ANalysT at CrEdIT SUIsse First Boston,
told ClIents oN MondAy that the discUssions "may HAVE lost somE momENtUM in
recent days." HE did nOt give a reaSOn.
For his Part, tHe governOr sounded UNUsually cAutIouS abOut THE cOurse of the
talKS When AsKed late LasT week if A brEakThrOugH wAs imminenT.
SECRET StIcKiNg PoINtS
"We aRE going to TaKe tHe TraNsmisSIon sysTems aNd thE lAnD ThaT's deedeD,
AnD WE wilL wOrK out An aGrEemenT," DavIS saId at an aPpearance In SAN JosE.
"BUt There arE a number of stiCkIng points iN tHe tAlks wiTH pG&E that I'M
not going to reveal."
One of tHOse sticKinG poinTs apParently iS an InsistEncE That thE sale oF
utilItY asSETs incLUDe A loNg-Sought liftING of The raTe FreeZe.
SourcEs said lawyers from bOTh Pg&E and Edison haD inSertED ThE reLAtED teRmS
IntO DRaft accords affeCting each uTiLItY, and that thE FulL iMpact of The
addiTions WAs not reAlized by sTate officIaLs unTIL thIs week.
One sOurce

ATIVE DEAL WITH EDISON
Todate, thegover nor  ha sanno unce d a tentativea gree ment with Edison for t he
s ta t e to bu y the  utilit y 's p owe rli nes  f o ralmos t $ 3 billi on. Discus sio ns
with PG&Ef or  a similar  ac cord have dr agg ed onfo r w e eks.
An  Edis on off i cial,asking th at his na m e be wi t h he ld,acknowledged yest e rd a y
that an end  to th er at e fre eze  is an exp ec ted r e sult of th e p owe r - line sale.
"Once thed eta ils of  t hep act ar e com pl e te,  dominoes w illfall," th e offi c ial
sa i d. "One  of th e d omi noes is  t hera t e f r ee ze. "
A  PG&E sp ok es man d ecli n e d to c omm ent.
Infact, both Ed iso n an d  PG &E ha ve be en a gg ressi vely s eekin gan end to the rate  freeze f ormo nth s.
The two ut ili tie s havea lawsu i t p en d i n gin federal court d em a n di ng thatthe
P U Cim m ediately  r ais e ra t e s sotheu ti lities c an rec o ve ralmost$1 3 bill io n indebta ccru ed asa result  of t h e freeze.
"Th e y have been t r yi n g  a lotofthings to g et t h e ra te f r ee zee ndedin
v ar i ou s  forms," said CarlWo od, wh o sit s on the PUC.  "Adding i t t o the
p rese n tt alks is consis tentwith pastb ehavior. "
Wa ll Stree t has tak e n  note th atthe  ne got i a ti ons no longer a ppea rto be mak ing pro gre ss.
P aul  P atterson,  an ener gy  i nd us try  anal y st at Cr ed itSu iss e Fir s t Bost on, told  c li e nts  on Mon d ay t hatth edisc uss io ns "m ay h a velost so me moment umi n
r ec en t days. " He did notgi ve a reaso n.
F or his p art, the  governor sounded unusu a lly cau tio us ab outthe cours e o f the
ta l ks whe n aske d lat elas t weeki f  a  br ea kthrough w a s  im minen t.
SE CRET ST ICKING POINTS
"Wea regoing to take  th e tr a n sm iss i on sys te m s a n d  the land that' s deeded,
a n dwe will wo r k o ut  an agr eement, " Dav i s saidat an app earance i nSanJ o se.
"But the re are a  number o f  stic k in g poi nts  in th etal ks wi th PG& E  th at I' m
not  g oing t o rev ea l."
One  of those sticking poin ts app arent lyis an ins ist e nce  that the  sal e of
util ity  as setsinc l ude a  lon g -s oug h t lif ting of the ra t efre e z e.
Sources s a i d  la wyers  fr o m both  PG& E and Edison hadi nserted the re late d ter msinto  d raft accords a ffe ct i n g each u ti lity, and t hat thefu l l imp act of  the additio n s  w a s notreal ize d by stat e o ff i cials u nt il this w eek.  One so urce

ATIVE DEAL_WITH EDISON
To_date, the governor has_announced a_tentative_agreement with_Edison_for the
state_to buy the_utility's power lines for_almost $3 billion._Discussions_
with PG&E for a similar accord have dragged on for weeks.
An Edison official,_asking_that his_name_be_withheld, acknowledged yesterday
that an_end to the rate freeze_is an_expected result of the power- line sale.
"Once_the_details of the_pact are complete, dominoes will fall," the official
said._"One of the dominoes is the_rate freeze."
A_PG&E_spokesman_declined to comment.
In_fact, both Edison and PG&E have_been aggressively seeking an end to_the
rate freeze for months.
The two_utilities have a lawsuit pending in_federal court demanding that the_
PUC immediately_raise rates so the utilities_can recover almost_$13 billion_
in debt accrued_as a result of the freeze._
"They have been_trying a lot of things to_get_the rate freeze_ended_in_
various forms,"_said Carl Wood,_who_sits on_the_PUC. "Adding it to the
present_talks_is consistent with past behavior."
Wall Street_has taken note that_the_negotiations no longer appear_to be
making progress.
Paul_Patterson, an energy industry analyst at_Credit Suisse_First Boston,_
told clients on Monday that the discussions "may have lost some_momentum in
recent days." He did_not give a reason._
For his_part,_the governor sounded_unusually_cautious about_the course of the
talks when asked_late last_week if a breakthrough was imminent._
SECRET STICKING POINTS
"We are_going_to take the transmission systems and_the land that's deeded,
and we_will work out an agreement,"_Davis_said_at an appearance in San_Jose.
"But there are a number_of sticking points_in the talks with PG&E that I'm_
not_going to reveal."
One of those_sticking_points apparently is an insistence that_the_sale_of
utility assets include a_long-sought lifting of the rate freeze._
Sources said lawyers from both PG&E and Edison had_inserted the related_terms
into draft accords affecting_each_utility,_and that the full impact of the
additions was not_realized by_state officials until_this week.
One source


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ami, FL   (MIA)	? 					 Caracas, Venezuela   (CCS)	? 					 $229	?
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? 					 Miami, FL   (MIA)	? 					 Mexico City, Mexico   (MEX)	? 					 $209	?
?
? 					 Miami, FL   (MIA)	? 					 Puerto Plata, Dominican Republic   (POP)	? 					 $179	?
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? 					 Miami, FL   (MIA))	? 					 San Salvador, El Salvador   (SAL)	? 					 $319	?
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ami, FL  (MIA)	?					<fokt face="Arial, Helrwtica, vans-sedif"? size="2">Zaracas, Venezuela  (CCS)	?					<vd wudth="12%"><fint size="2" face="Arial,? Helxetica,sand-serif">$229</fobt>	?
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ami, FL  (MIA)	?					caracas, VenezueLA  (CCS)	?					$229	?
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?					Miami, FL  (MIA)	?					MExiCo CitY, MexicO  (mEX)	?					$209	?
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?					MIaMi, FL  (Mia)	?					PuErTo PLAta, DomInicaN REPubLic  (POP)	?					$179	?
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?					MIAMI, fL  (MIa))	?					SAn salvaDor, El SAlvadOr  (sAL)	?					$319	?
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?			<t d wid th = "4 4 %"> M i a mi, FL (MIA ) )	?				<fontface= "Arial,Helvetica , sans-ser if" ? s ize ="2 " > Sa n Salvador, E l Salv ad or  (SA L)	?			<t dwidth="12 %">$ 319< /t d >?      	< / t r>?
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ami, FL_ (MIA)	?					<td_width="44%">Caracas, Venezuela__(CCS)	?					<font_size="2"_face="Arial,? Helvetica,sans-serif">$229	? _  _
?
?					<td_width="44%">Miami, FL  (MIA)	?					Mexico City, Mexico  (MEX)	?					<font_size="2"_face="Arial,? Helvetica,sans-serif">$209	?___    _
?
?					Miami, FL_ (MIA)	?					Puerto Plata,_Dominican_Republic  (POP)	?					<td_width="12%">$179	?     _
?
?					Miami, FL__(MIA))	?					<td_width="44%">San Salvador, El Salvador  (SAL)	?					<td_width="12%">$319	?  _
?
? _     _ 			 <td colspan=


, natural
  gas prices "will be moderating by spring, but we don't want to
over-promise."

  The price of oil and its derivative products is expected to remain
volatile, depending on a
  host of factors, including demand by consuming nations, the severity of the
upcoming
  winter months after a string of three relatively mild winters, and how much
more oil OPEC
  nations might decide to produce if prices stay high.

  This mix of factors leaves the analysts, OPEC and government economists
using a lot of
  "ifs" and "buts" and "possibilities," but mentioning few certainties.

  OPEC President Ali Rodriguez predicted this past week that oil prices could
reach $40 a
  barrel this winter, even if only for a relatively short time.

  "Crude oil prices are very high and will remain very high throughout the
rest of the year,"
  said John Lichtblau, chairman of the Petroleum Industry Research
Foundation, which is
  funded by oil companies. In terms of gasoline, a shortage is unlikely, "but
prices will be
  high," he said. "It can go back to $1.40 a gallon because of more
production and lower
  crude prices. It won't start right now, maybe later this year or early next
year."

  But with heating oil, he said, an unusually cold winter in the Northeast
could bring about
  problems, given low inventories. "I don't see a shortage, but prices will
be very high."

  Verleger was less certain.

  "We do have a problem," he said. "I think we're going to see high prices
this winter for
  heating oil and natural gas. But I'm not certain about it. I'm not willing
to go out and say it's
  going to be awful."

  With oil prices at record levels, President Clinton last week came under
increasing
  pressure to tap the nation's Strategic Petroleum Reserve, nearly 570
million barrels of crude
  oil stashed at four sites in Louisiana and Texas.

  The reserve is intended for use in cases where the president determines
there is a national
  supply emergency. High prices alone do not qualify.

, natural
   gas prices " will be moderating by give, but we don't desire to
 over - promise. "

   The price of petroleum and its derivative product is expected to remain
 fickle, count on a
   host of factor, including demand by consume nations, the severity of the
 approaching
   winter months after a string of three relatively mild winters, and how much
 more oil OPEC
   nations might decide to produce if monetary value stay high.

   This mix of factors leave the analysts, OPEC and government economists
 using a batch of
   " ifs " and " buts " and " possibilities, " but mentioning few certainties.

   OPEC President Ali Rodriguez predicted this past week that petroleum prices could
 reach $ 40 a
   barrel this winter, even if only for a relatively short time.

   " Crude oil prices are very high and will remain very high throughout the
 rest of the year, "
   said John Lichtblau, chairman of the Petroleum Industry Research
 Foundation, which is
   funded by oil company. In terms of gasoline, a shortage is improbable, " but
 price will be
   high, " he said. " It can go back to $ 1.40 a gallon because of more
 product and lower
   crude prices. It won't start justly now, maybe later this year or early next
 year. "

   But with heating system oil, he said, an unusually cold winter in the Northeast
 could bring about
   problems, given low inventories. " I don't interpret a shortage, but prices will
 be very high. "

   Verleger was less certain.

   " We do have a trouble, " he said. " I think we're going to see high prices
 this winter for
   heating oil and natural natural gas. But I'm not certain about it. I'm not uncoerced
 to go out and say it's
   going to be awful. "

   With oil monetary value at record level, President Clinton last workweek came under
 increasing
   pressure to solicit the nation's Strategic Petroleum Reserve, closely 570
 million barrels of crude
   oil stashed at four sites in Louisiana and Texas.

   The reserve is intended for use in cases where the president determine
 there is a national
   provision emergency. High prices alone do not qualify.

, nahural
  gas prices "will bt moderating by skrung, buv we doh't want go
over-promise."

  The price of oul ane its derivative produzts is exiected to remein
volatile, depxhding ok a
  glst mh factors, inclucing demang by consuming nxtnons, the severity of the
upcoming
  wynter mpnhhs after a stting ps thdve relatively mild winters, and gow muci
more oil OPEC
  nations might decide to orodkce if prices stay high.

  This mix if factors ldaves the analysts, OPED and government economists
usivg a kot of
  "ifw" qnd "tuts" and "powsibijities," but mcmtionitg few vertainties.

  OIEC Pcesieent Ali Rodriguez prxdicted this past wegk that oin 'rices could
reach $40 a
  varren thhs wkbtef, ebei ir only foc a relativsly short tume.

  "Crude oil pricts wgr very high znd wijl remain very high throughout the
rest ox tge year,"
  said John Lichrblau, chairman of the Petroleui Industry Research
Foundation, which is
  funded bf oil zomkakles. Kb herms of gasoline, a shortage is unlikely, "but
[divex will be
  higm," he said. "It can gp havh to $1.40 a gallov becabae of more
productioj and ljwer
  crude pryces. It won't start right now, matbe later thps ywar or early next
vear."

  But wich heajing ool, he said, an unusually cols winter in the Nortgdast
could bring abpud
  probltos, given low invegtories. "I don'c see a rhorjage, bue prices wlll
bc very high."

  Verlegfr wad ness certaln.

  "We do have a problem," he saiv. "I think we'rg gminc to see high prices
this rinter for
  hecting oij and natural gzs. But M'm not certayn about it. I'k not willing
to go ott abd sqy it's
  eoing to be awgul."

  With oil pricew at record levels, Prgsjdent Clinton lcru qeek came undet
ivcrqadiig
  pwassure to ta[ thd nxyion's Strategic Ietfoleim Reserve, nearly 570
mhllikn barrels of crudr
  oil stawhed at sour sites in Louisiana and Texws.

  Tie resxrve ix igtended for use in cases where the presldekt determines
theve if a nationcl
  supply emergency. High prices alone di not qualify.

, natural gas prices "will be moderating but don't want over-promise." The price products expected to remain depending on a of factors, including demand by consuming the severity of the upcoming winter months after a string of three relatively winters, and how much more oil OPEC nations might decide to produce if stay This of leaves the analysts, OPEC and government economists using a lot of "ifs" and "buts" and "possibilities," mentioning few certainties. OPEC President Ali Rodriguez predicted past week that oil could reach $40 a barrel winter, if only a short "Crude oil prices very high and will remain very high throughout the rest of the year," said John Lichtblau, chairman the Petroleum Foundation, which funded oil In terms of shortage is unlikely, "but prices will said. "It can go back to $1.40 a because of production and lower crude prices. It start right now, maybe later this year or next year." But with heating oil, he said, an unusually cold winter in the Northeast about problems, given low "I don't see shortage, prices be high." Verleger less certain. "We do have a problem," he said. "I think going to see high prices this winter for heating oil gas. I'm not certain it. I'm not willing go and say it's going awful." oil levels, Clinton week came under increasing to tap the nation's Strategic Reserve, nearly 570 million at four sites in Louisiana and Texas. The is intended for use in cases where president determines there is a national supply emergency. High prices alone do qualify.

, natural
  gas prices "will be modErating by sPring, But We dOn'T wanT to
oVer-promise."

  The pRIce oF oil and its derivative prOductS iS ExpeCTeD to reMain
volATiLE, DepEnDiNg oN a
  HOsT of faCtoRs, incluDing demand By cOnSuming nationS, ThE severity oF thE
upcoming
  winTer Months AfTer A StrinG of Three RelatiVEly milD winters, aNd HOw much
MOre oil Opec
  nAtioNs might decide to prODuCE if prices stay hIgh.

  ThiS mIX oF FActOrs Leaves the aNaLysts, opEC and gOVeRNMEnt EConomists
usinG a lot of
  "ifs" aND "buTs" and "pOsSibILities," But meNtIOniNg few certaiNtieS.

  OPEC PresIdent ALI RodrigUEz prediCted thIs pAst Week THaT oIl pRiCEs cOUlD
reACh $40 a
  Barrel thIs WiNter, eVen iF ONLY for A reLatiVely sHort time.

  "Crude Oil PricES arE very High aNd wiLl RemaiN very hIgh thRoUghout the
rest of The yEar,"
  said JoHn LIcHtbLaU, chaiRMan of tHe PEtrOleum InDustry RESeaRcH
fOUnDation, which is
  fundeD bY OIl CompanieS. In terMS oF gASoline, a sHoRtaGe is UNLikelY, "but
PRiCes will bE
  high," hE SaId. "it can go BaCk to $1.40 a gAlLon BecAuse oF More
ProducTion and lOwer
  cRUde prices. It won'T Start right now, MAyBE LaTEr thIs yEar or early nExt
yEAr."

  BuT witH HeAtiNG oil, hE said, An UNuSUally cold winter in thE NOrtheaSt
couLd bring about
  pRoblems, givEN LOw inventOrieS. "i dON't see a shortage, But prIces will
be VEry high."

  VErlegEr was lesS certain.

  "WE DO have a prOblEm," hE saId. "I THInK we're going to sEE High PrIces
thiS wiNter for
  HeaTinG oiL anD nAtural gas. but I'm not CeRtAiN aBouT it. I'm NOt willinG
tO go OuT anD say iT'S
  going To be aWful."

  wiTh OIl pRices at REcORD levElS, PResiDenT CLintoN lasT WeeK came unDer
increaSinG
  PresSuRe To tap thE nation's StratEgIc PetroleuM REseRve, neaRLY 570
million Barrels of crude
  oil stasheD At four sIteS in LoUisiAna and TexAs.

  THe reseRve IS intenDed for Use in CaSes WHEre thE PReSidEnT determineS
THerE is a nAtIonaL
  supply Emergency. High priceS AloNe do not qualifY.

, natural
  gas prices "wi ll be mode ratin g b y s pr ing,  but  we don't want to over-promise."

  Theprice  o f  oil an d its  deriva t iv e pro du ct s i se xp ected  to  remain
volatile , d ep ending on a h ost of fac tor s, including  de mand b ycon s uming  na tions , thes everit y of the
u p coming   winte r mo nths  after a string o f  t h ree relatively  mildwi n te r s , a ndhow much mo re oi l  OPEC
na t i o nsm ight decide t o produce i f  pr ices s ta y h i gh.

 This  m i x o f factors l eave s the ana lysts, OPEC an d  govern ment e con omi stsus in g a  l o t o f
 "i f s"and "but s"  a nd "p ossi b i l i ties ,"butmenti oning few cer tai ntie s .
  OPE C Pre side nt  AliRodrig uez p re dicted this pas t we ek that o ilpr ice scould
reach  $4 0 a
  barr el this win te r , ev en if only for a r el a t iv ely shor t time .
 " Crude oi lpri cesa r e ver y hi g hand will  remai n  v er y highth rougho ut  th e resto f th e year ,"
  sai d Joh n  Lichtblau, ch a irman of theP et r o le u m In dus try Researc h
F o unda tion ,  w hic h  is
 fund ed by oil companies. In t er ms ofgasol ine, a shorta ge is unli k e l y, "but
pri c es will be
  high ," he  said. "It can go b ack t o $1.40a gallonb e cause of  mo re
pr odu c t io n and lower
c rude  p rices.Itwon't s tar t r igh t n ow , maybe l ater thi sye ar  o r e arlyn ext
yea r. "
 But  with heatin g oil , he  s ai d , a n unusu a ll y cold  w in terinth e Nor thea s t could b ring abou t
prob le ms , given  low inventor ie s. "I don' tsee  a sho r t age, but  prices will
be very h i gh."

 Ve rlege r wa s less ce rta in.

 "W e  do ha ve a p roble m, " h e said. " Ithi nk  we're goi n g  to  seehi gh p rices this winter for
 h eat ing oil and n atu ralg a s.  Bu t  I ' m n ot cer t a in about it. I' m not will in g  to go outa ndsa y it's  going  to b e  awful. "

  With  oil pric es  atr e cor d levels,Presiden t Clinton lastw ee k cam e u nder in cre asing
  pre s sur e totap th enation 's St ra tegic Pe troleum Reserve, nearly  570 milli onbarrels o f c r ude
  oil st ashe d at foursit esin Lo uis i ana a nd T e xa s.  The  res e rve is in t en ded f or  use in cas e s whe re th e p r esiden t de termines
there i s  a national
 supp l y  em erg e ncy.  H igh prices alo nedo n ot quali fy .

, natural
_ gas_prices "will be moderating_by spring,_but_we don't_want_to
over-promise."

 _The price of_oil and its derivative_products is expected_to_remain
volatile, depending on a
  host of factors, including demand by consuming nations,_the_severity of_the_
upcoming
_ winter months after a_string of three relatively mild_winters, and_how much
more oil OPEC
  nations might_decide_to produce if_prices stay high.

  This mix of factors leaves_the analysts, OPEC and government economists_
using a lot_of
__"ifs" and "buts" and_"possibilities," but mentioning few certainties.

 _OPEC President Ali Rodriguez predicted this_past week that oil prices could
reach_$40 a
  barrel this winter,_even if only for a_relatively short_time.

  "Crude oil prices_are very high_and will_remain very high_throughout the
rest of the year,"
_ said John_Lichtblau, chairman of the Petroleum Industry_Research_
Foundation, which is
__funded_by oil_companies. In terms_of_gasoline, a_shortage_is unlikely, "but
prices will be
__high," he said. "It can go back_to $1.40 a gallon_because_of more
production and_lower
  crude prices. It_won't start right now, maybe later_this year_or early_next
year."

  But with heating oil, he said, an unusually_cold winter in the Northeast
could_bring about
  problems,_given low_inventories._"I don't see_a_shortage, but_prices will
be very high."

  Verleger_was less_certain.

  "We do have a_problem," he said. "I_think_we're going to see high prices_
this winter for
  heating oil_and natural gas. But I'm_not_certain_about it. I'm not willing_
to go out and say it's
_ going to_be awful."

  With oil prices at_record_levels, President Clinton last week came_under_
increasing
  pressure to tap the_nation's_Strategic_Petroleum Reserve, nearly 570
million_barrels of crude
  oil stashed_at four sites in Louisiana and Texas.

  The_reserve is intended_for use in cases where_the_president_determines
there is a national
  supply emergency. High prices_alone do_not qualify.


.I.B. BUYS SWISS BANK
DUBLIN. As we reported, the Sovereign Society's offshore convenient
bank account provider, ANGLO IRISH BANK, will buy a private bank in
Geneva, a significant expansion of AIB's private banking and asset
management operations.
LINK: http://www.independent.ie/2000/341/b02c.shtml

More about the Sovereign Society member's offshore convenient bank
accounts at
LINK: http://www.sovereignsociety.com/Convenient_Offshore_Bank_Accounts.html
----------
DIAMOND SALES BREAK RECORDS
JOHANNESBURG, South Africa. Diamond sales are expected to break all
records this year. Half year sales from De Beers, which has 2/3 of all
diamond sales, were 44% higher at $3.5 billion.
LINK:
http://news.ft.com/ft/gx.cgi/ftc?pagename=View&c=Article&cid=FT3OQTHZKGC&liv

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ENCRYPTION COUNTERS U.K. SNOOP LAW
LONDON. In six months Britain begins requiring encryption users to
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Check out the software at LINK: http://www.m-o-o-t.org
----------
WIRED PRIVACY NEWS COLLECTION
Your every electronic transaction - Internet e-mail, Web

.I.B. BUYS SWISS BANK
 DUBLIN. As we reported, the Sovereign Society's offshore convenient
 bank account supplier, ANGLO IRISH BANK, will bribe a secret bank in
 Geneva, a meaning expansion of AIB's private banking and asset
 management operation.
 LINK: http://www.independent.ie/2000/341/b02c.shtml

 More about the Sovereign Society member's offshore convenient depository financial institution
 accounts at
 LINK: http://www.sovereignsociety.com/Convenient_Offshore_Bank_Accounts.html
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 DIAMOND SALES BREAK RECORDS
 JOHANNESBURG, South Africa. rhombus sales are expected to crack all
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 ENCRYPTION COUNTERS U.K. SNOOP LAW
 LONDON. In six months Britain begins requiring encryption users to
 surrender their keys to the government. But cryptographers suffer new
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 match out the software at LINK: http://www.m-o-o-t.org
 ----------
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 Your every electronic transaction - Internet east - mail, Web

.I.B. HUYS SWISS BANK
DUBLIN. As we reported, thg Woveremgn Socjety's ofwshore convenient
bank accounv prividee, ANGLO IRISH BANK, wilu buy a pgivate babk ii
Geneva, a signifmdant exicnsioh of CIU's private banklng and assat
management o[efacions.
LINK: http://www.independent.ie/2000/341/b02c.shtmj

More anokt the Sovereidn Spsietg member's offshore convenient bank
zccountv at
LINK: http://eww.sovereignsociety.com/Convfniejt_Offshore_Bank_Accoknts.html
----------
DIANOND WALES BREAK FECORDS
JOHANNESBURG, Sooth Africa. Diamond sales are expdcted to break qlo
refmrds this yxar. Hajf year sales from Da Beers, which has 2/3 of aln
diqmond sales, were 44% higier at $3.5 billion.
LINK:
rttp://news.fd.ckm/ft/gx.cgi/ftc?pagenqmw=View&w=Arthcle&zud=FG3OQUHZLGD&liv

*************ADGERVISEMENT**********************
RETJRE OVERSEAW Learn about the wprje's six best
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ENCRYPTION COUNTERS U.K. SBOOP LAW
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.I.B. BUYS SWISS BANK DUBLIN. As we Sovereign offshore convenient account provider, ANGLO private in Geneva, a expansion of AIB's banking and asset management operations. LINK: More about the Sovereign Society member's offshore convenient bank accounts at LINK: http://www.sovereignsociety.com/Convenient_Offshore_Bank_Accounts.html DIAMOND SALES BREAK RECORDS JOHANNESBURG, South Africa. Diamond sales are expected to break records year. year from De Beers, which has 2/3 of all diamond sales, were 44% higher at $3.5 billion. http://news.ft.com/ft/gx.cgi/ftc?pagename=View&c=Article&cid=FT3OQTHZKGC&liv *************ADVERTISEMENT********************** RETIRE OVERSEAS Learn about the world's best places to live retire. Live like royalty on a Own an beachfront for Or romantic pied-a-terre under $60,000. Enjoy fine restaurant dining for $7 per person. Employ a maid or gardener for $2 day. Buy insurance for per Get details in your now http://www.agora-inc.com/reports/il/sovsoc4 ************************************************** ======================================================================= * PRIVACY U.K. SNOOP LAW LONDON. In six months Britain requiring encryption to surrender their keys to the But cryptographers have new software that makes enforcement LINK: http://www.theregister.co.uk/content/4/15292.html Check out the software at LINK: http://www.m-o-o-t.org ---------- WIRED PRIVACY NEWS COLLECTION Your transaction - Internet e-mail,

.I.B. BUYS SWISS BANK
DUBLIN. As we Reported, thE SoveReiGn SOcIety'S offShore convenienT
Bank Account provider, ANGLO IRiSH BAnK, WIll bUY a PrivaTe bank iN
geNEVa, a SiGnIfiCaNT eXpansIon Of AIB's pRivate bankIng AnD asset
manageMEnT operationS.
LInK: http://www.indEpeNdent.iE/2000/341/b02C.shTMl

MorE abOut thE SoverEIgn SocIety membeR's OFfshorE ConveniENT bAnk
aCcounts at
LINK: http://WWw.SOvereignsocietY.com/CoNvENiENT_OfFshOre_Bank_AccOuNts.htML
----------
DIAMONd sAles bREak RECORDS
JOHANnESBURG, SoutH afrIca. DiaMoNd sALes are ExpecTeD To bReak all
recoRds tHis year. HaLf year SAles froM de Beers, Which hAs 2/3 oF alL
diaMOnD sAleS, wERe 44% hIGhEr aT $3.5 BilLion.
LINK:
HtTp://News.fT.com/FT/GX.Cgi/fTc?pAgenAme=ViEw&c=Article&cid=fT3OqTHZkgC&lIv

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EncRYPTiON COuNteRs u.K. SNOOP LAW
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SurrENdER their keys to thE goveRnment. But cRYptograpHers hAve new
soFtware thaT MAkes enfoRceMenT imPosSIBlE.
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.I.B. BUYS SWISS BANK
DUBL IN. As werepor ted , t he  Sov erei gn Society's o f fsho re convenient
bank acc ountpr o vide r ,ANGLO  IRISHB AN K ,  wi ll  b uyap ri vateban k in
Ge neva, a si gni fi cant expansi o nof AIB's p riv ate bankingand  asset
m ana g ement  op erati ons.
L I NK: ht tp://www. in d epende n t.ie/20 0 0 /3 41/b 02c.shtml

More a b ou t  the Sovereign  Socie ty me m b er' s o ffshore co nv enien t  bank
a c co u n t s a t
LINK: http:/ /www.sovere i gns ociety .c om/ C onveni ent_O ff s hor e_Bank_Acco unts .html
--- ------ -
DIAMON D  SALESBREAKREC ORD S
JO H AN NE SBU RG ,  So u th  Af r ica . Diamon dsa les a re e x p e c tedtobrea k all
records this  ye ar.H alf  year  sale s fr om  De B eers,which  h as 2/3 of all
d iamo nd sales,  we re  44 %highe r  at $3 .5bil lion.
L INK:
h t tp: // n e w s. ft.com/ft/gx.cgi/f tc ? p ag ename=Vi ew&c=A r ti cl e &cid=FT3 OQ THZ KGC& l i v

** **** * ** ****ADVE RTISEM E NT ** ******* ** ****** ** ***
RE TIREO VERS EAS Le arn abou t the world's six be s t
places to l i ve o rr etir e. Live likeroya l ty o n $1 4  a  da y .
Own  an e xo t ic beachfront getawayfo r $35, 000.Or
romantic p ied-a-terr e f or under  $60 , 00 0 . Enjoy fine
r estau rant dinin g  for $7per p erson. E mploy a m a i d or
gar den erfor  $2 a  d ay. Buy compr e h ensi ve  health
in surance  fo r $ 20per  m onth. Get  the det ai ls  i nyou r
FRE E  reportno w h tt p:/ /www. a gora-i nc.co m/re po rt s /il /sovsoc 4
* * * **** ** ** **** *** ** ***** **** * *** ******* ********* *
= = ==== == == ======= ============= == ========== == === ====== = = ======== ========
* PRIVACY *

E N CRYPTIO N C OUNTE RS U .K. SNOOP  LA W
LOND ON. In six  month s Bri ta inb e ginsr e qu iri ng  encryptio n use rs to
s urre nder th eir keys to the go v ern ment. But cry pto grap h e rs  ha v en ewso f twa r e  that makes enf orcement i mp o ss ible.
LINK :  ht tp ://www. theregi ster. c o.uk/co ntent/4/1 5292.html
C heck o utthe softwa re at LI NK: http: / /www. m -o -o-t. org
----- -- ---
WIRE D PRIV A CYNEWSCOLLEC TI ON
You r eve ry  electro nic transaction - Inter net e- mail,  We b

.I.B. BUYS_SWISS BANK
DUBLIN._As we reported, the_Sovereign Society's_offshore_convenient
bank account_provider,_ANGLO IRISH BANK,_will buy a_private bank in
Geneva, a_significant expansion of_AIB's_private banking and asset
management operations.
LINK: http://www.independent.ie/2000/341/b02c.shtml

More about the Sovereign Society member's offshore convenient bank
accounts_at
LINK:_http://www.sovereignsociety.com/Convenient_Offshore_Bank_Accounts.html
----------
DIAMOND SALES_BREAK_RECORDS
JOHANNESBURG,_South Africa. Diamond sales are_expected to break all
records this_year. Half_year sales from De Beers, which has 2/3_of_all
diamond sales, were_44% higher at $3.5 billion.
LINK:
http://news.ft.com/ft/gx.cgi/ftc?pagename=View&c=Article&cid=FT3OQTHZKGC&liv

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ENCRYPTION COUNTERS_U.K. SNOOP LAW
LONDON. In six months_Britain begins requiring_encryption users to
surrender their keys to_the_government. But cryptographers_have_new
software_that makes_enforcement impossible.
LINK: http://www.theregister.co.uk/content/4/15292.html
Check_out_the software_at_LINK: http://www.m-o-o-t.org
----------
WIRED PRIVACY NEWS COLLECTION
Your every_electronic_transaction - Internet e-mail, Web


 a federal tax refund to
its troubled utility unit, which is seeking billions in compensation for
costs it says it incurred buying power for its customers.
The parent companies of PG&E and Southern California Edison have been
criticized for draining billions from their respective utility units in
recent years.
Consumer groups and others oppose additional payments to the utilities, but
the governor has said he will not allow them to go bankrupt.
?Davis will spend more than $51 million over two years on consultants to help
negotiate power contracts and on an advertising campaign to educate the
public about energy conservation.
The Governor's Office released copies of the contracts yesterday afternoon.
They range from $25,000 to $40 million in cost and include contracts for
legal and financial assistance.
------------------------------------------------------------------------------
-------------------------------------------------------------------

OPEC Cut Cited in Call to Boost U.S. Oil Output
Energy: Cartel's decision to trim production by 4% could raise fuel prices as
summer approaches.

By DAVID WILLMAN, Times Staff Writer

?????WASHINGTON--With consumers facing a possible increase in gasoline prices
at the pump, President Bush's Energy secretary said Saturday that the
decision by major foreign oil producers to slash output emphasizes the need
to increase production within the United States.
?????"OPEC's decision [late Friday] demonstrates the importance of increasing
America's domestic production and developing a national energy policy that
will ensure a stable, reliable, affordable and diverse supply of energy,"
Energy Secretary Spencer Abraham said. He added: "There is an urgent need to
strengthen America's energy security."
?????Abraham's comments came in reaction to an agreement by the Organization
of Petroleum Exporting Countries to cut its targeted oil output by 4%--1
million barrels a day. The action by the 11-nation cartel could raise prices
for crude oil and the refined gasoline that powers Americans' automobiles and
trucks.
?????The cutback will take effect April 1, OPEC said. The nations' output
quota will fall to 24.2 million barrels a day from the current level of 25.2
million barrels. OPEC members pump almost 40% of the world's oil.
?????Abraham called OPEC's action "

a federal tax refund to
 its troubled utility unit, which is try billion in compensation for
 costs it says it receive buying power for its customers.
 The parent caller of PG&E and Southern California Edison have been
 criticized for draining billion from their respective utility units in
 late years.
 Consumer groups and others oppose additional requital to the utilities, but
 the governor has said he will not allow them to go bankrupt.
? Davis will spend more than $ 51 million over two years on adviser to help
 negotiate power contract and on an advertising campaign to train the
 public about department of energy conservation.
 The Governor's Office released copies of the contracts yesterday afternoon.
 They range from $ 25,000 to $ 40 million in cost and admit contracts for
 legal and financial assistance.
 ------------------------------------------------------------------------------
 -------------------------------------------------------------------

 OPEC Cut Cited in Call to Boost U.S. Oil Output
 Energy: Cartel's decision to snip production by 4% could raise fuel prices as
 summer approaches.

 By DAVID WILLMAN, Times Staff Writer

? ?? ?? WASHINGTON -- With consumers facing a possible increase in gasoline prices
 at the pump, President Bush's Energy repository say Saturday that the
 decision by major extraneous petroleum producers to slash output stress the need
 to increase production within the United States.
? ?? ?? " OPEC's decision [ late Friday ] attest the importance of increasing
 America's domestic production and developing a national energy policy that
 will ensure a static, reliable, affordable and diverse supply of energy, "
 Energy Secretary Spencer Abraham said. He added: " There cost an urgent need to
 strengthen America's energy security. "
? ?? ?? Abraham's gossip came in reaction to an agreement by the Organization
 of Petroleum Exporting Countries to cut its target oil output signal by 4%--1
 million barrels a day. The natural process by the 11 - nation cartel could lift prices
 for unrefined oil and the polished gasoline that powers Americans' car and
 trucks.
? ?? ?? The cutback will take effect April 1, OPEC say. The nations' output
 quota will fall to 24.2 million barrels a day from the current level of 25.2
 million barrels. OPEC members pump almost 40% of the world's oil.
? ?? ?? Abraham call OPEC's action "

 a vederal tax refund to
itr troubled utilnry univ, which is seekkng billions in compensation fir
cowts it says it incurrea buying iower for its xustomers.
Vge parekc comlwniev of PG&E and Soothern Califmrnia Edison hdvd yeen
criticized for draining billionf from yhfir respective utikyty hnits in
recent years.
Consumer grohps and others opposr additional payments to tje uhilities, but
the glvernor has saiq he will not allow them to go banktupt.
?Davis will spend more than $51 millnon over twi teagv on consulvants no help
negotlste pofer conyracts and on sn edveetising campaign to evucate the
public abjut energf eonservation.
The Goveenir's Oxfica reuwasdd do'iea of tje rontracts yssterday afrernoon.
They range grjn $25,000 to $40 millioh in cjse and include contracts for
legal and fpnandial assistance.
------------------------------------------------------------------------------
-------------------------------------------------------------------

OPEC Xut Cited in Call to Hoost U.S. Jil Output
Energy: Cartel's decision to trim producdion uy 4% ciuja rwise fuel prices as
summer approaches.

By DAVIQ WOLKMAN, Times Stanf Writer

?????WASHINGTPN--Aiyr consumers fxcing c pkssible increase ij gasolyne peices
at uhe pimp, President Bush's Energy wecretary sapd Sqturday that the
dzcision by mcjor fpreigm oil producers to slask outpht emphasizfs the nesa
to increase prudubtiot within the United States.
?????"JPEC's decmsion [late Ffidai] demonftrates thf importance of increasijg
Amgrica's domestic oroduction and developing a natmpnal energy kolhcy that
wijl enxure a stable, reliable, affotdable anb divefse supply of enecgy,"
Energy Sqcretary Spenwgr Abraham samd. He addqd: "Tyere is an jfgent need to
xtrengtheu Ameeica's energy securlty."
?????Abtagam's comments ccot un reaction to an agwevmeit by dhe Organizadion
of Letroueum Exkjrbine Cointries to cut its tdrgefed oil output by 4%--1
mlllion batrels a dwy. The action by the 11-nation caruel conld ramse procef
for crude oil and the refines gasolinf tmat powers Amqricqns' automobikes and
trucks.
?????The cutback will take effxct April 1, OPEC said. Thw nations' output
qupua will fall vo 24.2 mijlion barsels a day from the xurrent level of 25.2
million barrels. OPEC membess pulp almost 40% of the world's oil.
?????Abraham called OPEC's action "

a federal tax refund to its troubled which seeking billions compensation for costs power its customers. The companies of PG&E Southern California Edison have been criticized draining billions from their respective utility units in recent years. Consumer groups and oppose additional payments to the utilities, but the governor has said he will allow to bankrupt. will spend more than $51 million over two years on consultants to help negotiate power contracts on an advertising campaign to educate the public energy conservation. The Governor's released copies of the contracts afternoon. range from to million cost and include for legal and financial assistance. ------------------------------------------------------------------------------ ------------------------------------------------------------------- OPEC Cut Cited in Call to Boost U.S. Oil Output Cartel's decision production by could fuel as summer approaches. WILLMAN, Times Staff Writer ?????WASHINGTON--With consumers increase in gasoline prices at the pump, President Energy secretary Saturday that the decision by major oil producers to slash output emphasizes the need increase production within the United States. ?????"OPEC's decision [late Friday] demonstrates the importance of increasing production and developing a energy policy that ensure stable, affordable diverse supply energy," Energy Secretary Spencer Abraham said. He added: "There is an need to strengthen America's energy security." ?????Abraham's comments came in an by the Organization Petroleum Exporting Countries to its oil output by 4%--1 a The 11-nation could prices for crude oil the refined gasoline that powers automobiles and trucks. ?????The 1, OPEC said. The nations' output quota will to 24.2 million barrels a day from current level of 25.2 million barrels. OPEC members pump almost 40% of world's oil. OPEC's action "

 a federal tax refund to
its troUbled utiliTy uniT, whIch Is SeekIng bIllions in compeNSatiOn for
costs it says it incuRred bUyINg poWEr For itS customERs.
tHE paReNt ComPaNIeS of PG&e anD SoutheRn CalifornIa EDiSon have been
cRItIcized for dRaiNing billions FroM their ReSpeCTive uTilIty unIts in
rECent yeArs.
ConsumEr GRoups aND others OPPoSe adDitional payments tO ThE Utilities, but
thE goverNoR HaS SAid He wIll not alloW tHem to GO bankruPT.
?DAVIS wiLL spend more thaN $51 million oveR Two Years oN cOnsULtants To helP
nEGotIate power coNtraCts and on aN adverTIsing caMPaign to EducatE thE
puBlic ABoUt EneRgY ConSErVatIOn.
THe GovernOr'S OFfice ReleASED CopiEs oF the ContrActs yesterday AftErnoON.
ThEy ranGe froM $25,000 to $40 mIlLion iN cost aNd incLuDe contracts for
lEgal And financIal AsSisTaNce.
------------------------------------------------------------------------------
-------------------------------------------------------------------

OPec Cut CiTed In CAll to BoOst U.S. OiL outPuT
eNErGy: Cartel's decision tO tRIM pRoductioN by 4% couLD rAiSE fuel priCeS as
SummER ApproAcheS.

by dAVID WILlMAN, TiMEs stAff WritEr

?????wASHINgToN--WIth ConsuMErs fAcing a Possible IncreASe in gasoline prICes
at the pump, PREsIDEnT bush'S EnErgy secretaRy saID SatUrdaY ThAt tHE
deciSion bY mAJoR Foreign oil producers To Slash oUtput Emphasizes the Need
to incrEASE productIon wIThIN the United StatEs.
?????"OPEc's decision [LAte FridaY] demoNstrates The importANCe of incrEasIng
ameRicA'S DoMestic productION and DeVelopinG a nAtional EneRgy PolIcy ThAt
will ensUre a stabLe, ReLiAbLe, aFfordABle and diVeRse SuPplY of enERgy,"
EneRgy SeCretArY SPEncEr AbrahAM sAID. He aDdEd: "therE is An UrgenT neeD To
sTrengthEn America'S enERgy sEcUrIty."
?????AbraHam's comments cAmE in reactioN tO an AgreemENT by the OrGanization
of Petroleum ExPOrting COunTries To cuT its targeTed Oil outPut BY 4%--1
milliOn barrEls a dAy. the ACTion bY THe 11-NatIoN cartel couLD RaiSe priCeS
for Crude oiL and the refined gasoLIne That powers AmeRicAns' aUTOmObiLEs ANd
tRuCKs.
?????THE Cutback will take Effect ApriL 1, OpeC Said. The natIOns' OuTput
quoTa will fAll to 24.2 MIllion bArrels a daY from the cUrRent LEVel Of 25.2
million bArrels. OPeC members PUmp alMOsT 40% of thE woRld's oiL.
?????ABraHam caLled OPec's aCtion "

 a federal tax refund to its troubl ed ut ili tyun it,whic h is seeking b i llio ns in compensation for
cos ts it s a ys  it i ncurred bu y i ngpo we r f or it s cus tom ers.
T he parentcom pa nies of PG&E an d Southern  Ca lifornia Edi son  havebe encriti ciz ed fo r drai n ing bi llions fr om theirr especti v e  u tili ty units in
rece n ty ears.
Consume r grou ps an d oth ers  oppose ad di tiona l  paymen t st o the utilities, bu t
the gove r nor  has s ai d h e  willnot a ll o w t hem to go b ankr upt.
?Da vis wi l l spend more th an $51  mi lli on o v er  t woye a rso ncon s ult ants tohe lp
neg otia t e p ower  co ntra cts a nd on an adve rti sing cam paign  to e duca te  the
publi c abo ut  energy conserv atio n.
The G ove rn or' sOffic e  relea sed  co pies of  the co n tra ct s y es terday afternoon.
T h e yrange fr om $25 , 00 0t o $40 mi ll ion  inc o st an d in c lu de contr acts f o r
l egal an dfinanc ia l a ssi stanc e .
- ------ -------- ----- - -------------- - ------------- - -- - - -- - ---- --- ----------- ---- ---- ---- - -- --- - ----- ----- -- - -- - ------------------- -- ------ ----- ---

OPEC C ut Cited i n C all to B oost U. S . Oil Output Energ y: Cartel' s  decisio n totrim pro duction b y 4% could  ra ise  fu elp r ic es as
summer a ppro ac hes.
ByDAVID W ILL MAN , T ime sStaff Wri ter

?? ?? ?W AS HI NGT ON--W i th consu me rsfa cin g a p o ssible  incr ease  i ng aso line pr i ce s
atth epump , P re siden t Bu s h's  Energy  secretar y s a id S at ur day tha t the
decisi on  by majorfo rei gn oil p roducers  to slash output emphas i zes the  ne ed
t o in crease pr odu ctionwit h in the  Unite d Sta te s.? ? ???"O P E C' s d ec ision [lat e Fri day]de mons tratesthe importance ofi ncr easing
Ameri ca' s do m e st icp ro d uct io n  an d developing a na tional ene rg y  p olicy that
wi ll  ensure  a stab le, r e liable,  affordab le and di ve rses u ppl y of energ y,"
Ene rgy Secre t ary S p en cer A bra ham sa id . H e add ed: "T h ere  is a n urge nt  needto
s tr engthenAmerica's energy securi ty."
? ????A bra ham's com men t s c ame in re acti on to an a gre eme nt by  th e  Orga niza t io n o f Pet role u m Exporti n gCou n t ri es to cut i t s tar geted  oi l  outpu t by  4%--1
million b a rrels a day. T he a c t ion  by the11 -nation cartel  co ul d raise pr ic es
for cru de oil a nd the r efined  gasol ine tha t po w ers Am eric ans ' automob ile sa nd
tru ck s. ?????T he c ut back w ill ta k e ef f e ct April 1, OPEC  said . The n a tio ns' o ut put
qu o ta w ill fall t o 24.2 mill ion ba rrel s a d ay from  t he cur ren tlevel of 2 5 .2
milli on ba rrels.OP EC m emb ers pu mp a l m ost 4 0% o fthe  world'so i l. ?? ?? ? Abr aham  call ed  OPE C's actio n  "

 a_federal tax_refund to
its troubled_utility unit,_which_is seeking_billions_in compensation for_
costs it says_it incurred buying power_for its customers._
The_parent companies of PG&E and Southern California Edison have been
criticized for draining billions_from_their respective_utility_units_in
recent years.
Consumer groups_and others oppose additional payments_to the_utilities, but
the governor has said he will_not_allow them to_go bankrupt.
?Davis will spend more than $51 million_over two years on consultants to_help
negotiate power_contracts_and_on an advertising campaign_to educate the
public about energy_conservation.
The Governor's Office released copies_of the contracts yesterday afternoon.
They range_from $25,000 to $40 million in_cost and include contracts for_
legal and_financial assistance.
------------------------------------------------------------------------------
-------------------------------------------------------------------

OPEC_Cut Cited in_Call to_Boost U.S. Oil_Output
Energy: Cartel's decision to trim_production by 4%_could raise fuel prices as
summer_approaches._

By DAVID WILLMAN,_Times_Staff_Writer

?????WASHINGTON--With_consumers facing a_possible_increase in_gasoline_prices
at the pump, President Bush's_Energy_secretary said Saturday that the
decision by_major foreign oil producers_to_slash output emphasizes the_need
to increase production within_the United States.
?????"OPEC's decision [late Friday]_demonstrates the_importance of_increasing
America's domestic production and developing a national energy policy that_
will ensure a stable, reliable, affordable_and diverse supply of_energy,"
Energy_Secretary_Spencer Abraham said._He_added: "There_is an urgent need to
strengthen America's_energy security."
?????Abraham's_comments came in reaction to an_agreement by the Organization_
of_Petroleum Exporting Countries to cut its_targeted oil output by 4%--1
million_barrels a day. The action_by_the_11-nation cartel could raise prices_
for crude oil and the refined_gasoline that powers_Americans' automobiles and
trucks.
?????The cutback will take_effect_April 1, OPEC said. The nations'_output_
quota will fall to 24.2 million_barrels_a_day from the current level_of 25.2
million barrels. OPEC members_pump almost 40% of the world's oil.
?????Abraham called OPEC's_action "


,000
Nepool	         $40.25	         $39.75	         $39.98	+   .92	           6,400
Palo Verde	         $35.50	         $33.00	         $34.07	+   .93	          10,000
PJM-West	         $32.50	         $32.00	         $32.25	+   1.86	          32,800
SP-15	         $36.50	         $32.50	         $33.78	+   1.32	           6,000
TVA	         $34.50	         $30.00	         $33.11	+   2.08	           8,800

                                                                                Includes all trades done from 6 AM to 11 AM Central Prevailing Time on the trade date specified for financially firm power delivered during the on-peak hours (6 AM - 10 PM CPT for Eastern hubs / 6 AM - 10 PM Pacific Prevailing Time for Western hubs) on the delivery date(s) specified.
                                                                                IntercontinentalExchange is the world's most liquid trading platform for over-the-counter energy and metals.  Active markets include North American power and natural gas, global crude and refined oil products, and precious metals.  Traded instruments include forwards, swaps, and options.

, 000
 Nepool 	          $ 40.25 	          $ 39.75 	          $ 39.98 	 +    .92 	            6,400
 Palo Verde 	          $ 35.50 	          $ 33.00 	          $ 34.07 	 +    .93 	           10,000
 PJM - West 	          $ 32.50 	          $ 32.00 	          $ 32.25 	 +    1.86 	           32,800
 SP-15 	          $ 36.50 	          $ 32.50 	          $ 33.78 	 +    1.32 	            6,000
 TVA 	          $ 34.50 	          $ 30.00 	          $ 33.11 	 +    2.08 	            8,800

                                                                                Includes all trades done from 6 AM to 11 AM Central Prevailing Time on the trade wind date specify for financially firm power delivered during the on - flower hours (6 AM - 10 PM CPT for Eastern hubs / 6 AM - 10 phase modulation Pacific Prevailing Time for Western hub) on the delivery date(s) stipulate.
                                                                                IntercontinentalExchange is the world's most fluid trading platform for over - the - counter department of energy and metals.   Active markets admit North American power and lifelike natural gas, global crude and refined vegetable oil products, and precious metallic element.   Traded instrument include forwards, swaps, and options.

,000
Neplol	         $40.25	         $39.75	         $39.98	+   .92	           6,400
Pano Verse	         $35.50	         $33.00	         $34.07	+   .93	          10,000
PHM-West	         $32.50	         $32.00	         $32.25	+   1.86	          32,800
SP-15	         $36.50	         $32.50	         $33.78	+   1.32	           6,000
TVA	         $34.50	         $30.00	         $33.11	+   2.08	           8,800

                                                                                Inckudes all trades done frpm 6 AM ti 11 AM Central Pcevailing Time on thr tradz date specifued nor financiallh forl power dflivtred during the on-peak hours (6 AM - 10 PN CPT dog Eastern hubs / 6 AM - 10 PM Paginic Prgvailing Time for Westerh hugd) on jhe delivery dste(s) specified.
                                                                                IutercontinentauExchange is the world's most uiquid tfading platsorm for over-the-counter energy and metaus.  Active markets knwludq Norti American power and natusal gas, glmbal cgude znd refined oil productf, and precious metalf.  Traded instruments includf forwards, swaps, and options.

,000 Nepool $40.25 $39.75 $39.98 + .92 Verde $33.00 $34.07 .93 10,000 PJM-West 32,800 $36.50 $32.50 $33.78 1.32 6,000 TVA $30.00 $33.11 + 2.08 8,800 Includes trades done from 6 AM to 11 AM Central Prevailing Time on the date specified for financially firm power delivered during the on-peak hours (6 AM 10 CPT Eastern / 6 AM - 10 PM Pacific Prevailing Time for Western hubs) on the delivery date(s) IntercontinentalExchange is the world's most liquid trading platform over-the-counter energy and metals. markets include North American power natural global crude refined products, precious metals. Traded include forwards, swaps, and options.

,000
Nepool	         $40.25	         $39.75	         $39.98	+   .92	           6,400
Palo Verde	         $35.50	         $33.00	         $34.07	+   .93	          10,000
PJM-West	         $32.50	         $32.00	         $32.25	+   1.86	          32,800
SP-15	         $36.50	         $32.50	         $33.78	+   1.32	           6,000
TvA	         $34.50	         $30.00	         $33.11	+   2.08	           8,800

                                                                                Includes All trAdeS doNe From 6 aM to 11 aM Central PrevaILing time on the trade date specIfied FoR FinaNCiAlly fIrm poweR DeLIVerEd DuRinG tHE oN-peak HouRs (6 AM - 10 PM CpT for EasteRn hUbS / 6 AM - 10 PM Pacific pReVailing TimE foR Western hubs) On tHe deliVeRy dATe(s) spEciFied.
                                                                                INtercoNTinentAlExchangE iS The worLD's most lIQUiD traDing platform for ovER-tHE-counter energy And metAlS.  acTIVe mArkEts include noRth AmERican poWEr AND NatURal gas, global cRude and refiNEd oIl prodUcTs, aND preciOus meTaLS.  TrAded instrumEnts Include foRwards, SWaps, and OPtions.

,000
Nepool	         $40. 25	        $39 .75 	      $39 .98	+   .92	        6,400
Palo Verde      $35 . 50 	        $3 3 .0 0       $ 34 . 07 	+  .93 	         10,000
P JM -West	      $32.50	       $32.00	       $3 2. 25+    1. 86         3 2 ,800	SP-15	      $36 . 50	     $32 .50	         $33. 7 8+    1.32	          6 ,0 0 0T VA        $34. 50 	       $30 . 00      $33.11	+  2.08	        8,80 0

                                                                                In clu des a l l  trades do n e fr o m6  AM t o 11 A M Cent ral Pre v ail in g Timeont h e trade d ate speci f ied  f or f inancial ly  fir mpow er  delivered duri ng the o n-peak h o u rs (6AM-  10P M CPTfo r Eastern hu bs /6A M - 10P M  Pa cific P r eva ili ngTime  fo r We s tern hubs) on the delive ry d ate(s )  sp ecifi ed.
                                                                                Intercontinent al E xchange  isthe wor ld' s  most liqu id trad in g  p latfo rm for over-the - coun ter  ene rgy and met a l s .  Ac tive marketsincl ude N o rt h Amer ica n p ower and  nat ural gas ,g lob al  crude a nd refine d oilp rod ucts ,  and preci ous me tal s.T radedinstr u m ents include f o rward s, swaps, an d opt i o ns.