Message-ID: <3226930.1075845304335.JavaMail.evans@thyme> Date: Fri, 18 May 2001 06:26:41 -0700 (PDT) From: martin.cuilla@enron.com To: s..shively@enron.com Subject: FW: A DIFFICULT TRANSITION - CERA Watch Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Cuilla, Martin X-To: Shively, Hunter S. X-cc: X-bcc: X-Folder: \Shively, Hunter S.\Shively, Hunter S.\Deleted Items X-Origin: SHIVELY-H X-FileName: Shively, Hunter S..pst Another CERA report - this one is a 20+ page report that is probably more bullish than the short one I forwarded you yesterday -----Original Message----- From: webmaster@cera.com@ENRON [mailto:IMCEANOTES-webmaster+40cera+2Ecom+40ENRON@ENRON.com] Sent: Thursday, May 17, 2001 5:30 PM To: insights@cera.com Subject: A DIFFICULT TRANSITION - CERA Watch Title: Quarterly Natural Gas Watch: Customers on the Margin E-mail Category: Watch CERA Knowledge Area(s): North American Gas - http://www20.cera.com/eprofile?u=35&m=2397 *********************************************************************** A DIFFICULT TRANSITION Supply is limiting the size of the North American gas market--and customers will remain on the margin in the gas industry through this year and next. Although the long-awaited rebound in US gas supply has begun, supplies are not yet sufficient to allow for complete gains in storage or power demand or for the return of gas demand that has switched to alternative fuels. Because prices have fallen quickly in recent days during the publication cycle, CERA has elected to move forward with publication of this Natural Gas Watch in tandem with an updated price outlook, contained in the May 15 CERA Monthly Briefing. CERA's latest expectation for prices can be found in the Monthly Briefing. Otherwise, the message of the Natural Gas Watch remains valid. * A return to more moderate and stable price levels is not likely during 2001 and is far from assured even for 2002. * The crisis this past winter has changed consumers' and investors' expectations and planning in ways that may affect the market for the next decade. **end** Follow the URL above for the complete report. CERA's Spring 2001 Roundtable event dates and agendas are now available at http://www20.cera.com/event *********************************************************************** To make changes to your cera.com profile go to: http://www20.cera.com/client/updateaccount Forgot your username and password? Go to: http://www20.cera.com/client/forgot This electronic message and attachments, if any, contain information from Cambridge Energy Research Associates, Inc. (CERA) which is confidential and may be privileged. Unauthorized disclosure, copying, distribution or use of the contents of this message or any attachments, in whole or in part, is strictly prohibited. Terms of Use: http://www20.cera.com/tos Questions/Comments: webmaster@cera.com Copyright 2001. Cambridge Energy Research Associates