---------------------- Forwarded by Lorna Brennan/ET&S/Enron on 12/18/2000 
10:59 AM ---------------------------


"Webmaster@cera.com" <webmaster on 12/15/2000 06:15:19 PM
To: 
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Subject: STRATOSPHERIC LEVELS -- CERA Monthly Briefing




Title: Into the Stratosphere 
URL: 
http://www20.cera.com/client/knowledgearea/report/0,1448,CID1295_KID8_SRTDAT_T
YPRPT,00.html 

High demand, perilously low storage inventories, and a supply response that 
is only beginning have driven gas prices in North America to stratospheric 
levels. The physical shortfall is now real enough, and prices have risen well 
above previous record highs to levels that should drive any demand that can 
realistically do so to leave the market. Gas is now pricing near the level of 
distillate for the first time ever, providing strong economic incentives to 
push to maximum levels of fuel switching.

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E-mail Category: Monthly Briefing 
CERA Knowledge Area(s): North American Natural Gas 

Follow URL above for Full Report 
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