Monday, March 20, 2000 How do you spell relief? O-P-E-C

By PHILIP LEE-SHANOK, TORONTO SUN Cross your fingers for some gas relief when OPEC's sheiks meet in Austria next week.

The cartel of oil-exporting nations -- meeting March 27 to set production quotas -- has stated it is "dedicated to providing a stable oil market, with reasonable prices and steady supplies to consumers."

Yesterday, Iraqi Oil Minister Amir Mohammed Rashid said he'll consider a hike in production depending on "the present demand and our capabilities."

Ministers from other Organization of Petroleum Exporting Countries have also committed to bringing down oil prices from nine-year highs.

SAVINGS

But gas activists doubt lower world oil prices will show up as savings at the pumps.

"The oil companies will keep it high as long as they can get away with it," Gasbuster Rob Smith predicted yesterday. "We've got to make it hard for them."

The Barrie-based gas activist, who runs the Web site www.gasbusters.net, says pressure has to be kept on Canada's monopoly vendors, such as Petro-Canada, to get gas down to reasonable prices.

Sarina Condello, who was filling up her 2000 Mazda MPV at a Yonge St. Canadian Tire station, said gas prices had her thinking twice about driving. "(The prices) better come down as fast as they went up," she said. "I was in absolute shock when it cost $50 to fill up my van."

http://www.canoe.ca/TorontoNews/ts.ts-03-20-0008.html

-- Martin Thompson (mthom1927@aol.com), March 20, 2000