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

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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

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