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=09=09Welcome to our second installment of Insights@CERA, a bi-monthly rev= iew of CERA research and analysis, upcoming events, new services, and expe= rt commentary. You are receiving this new service as a benefit of your CE= RA agreement. Should you prefer not to receive this bi-monthly communicati= on, please follow the directions at the bottom of this message to remove y= our name from our list of recipients. =09 =09=09 Insights@CERA Issue 2, January 2002 Featured This Month: Upco= ming Events New Products and Services New Research Multimedia High= lights CERA in the News UPCOMING EVENTS CERAWEEK 2002 "The New Fac= e of Risk: Energy Strategies for a Changed World", February 11-15, 2002 in= Houston, Texas. - The premier international gathering of senior energy de= cision makers. How will global uncertainty impact strategic investment dec= isions? How will it reshape infrastructure strategies and the relationship= between the public and private sectors? How should business respond to th= e changing nature of risk and need? CERAWeek will offer a framework for un= derstanding and navigating these complicated issues. NEW PRODUCTS AND = SERVICES CERAWEEK ONLINE PREMIUM SERVICE CERAWeek Online will deliver a = comprehensive online experience of the CERAWeek proceedings, featuring dai= ly highlights and interviews with speakers, live simulcasts of keynote and= plenary sessions, on-demand access to a wide variety of sessions, and onl= ine briefings by CERA experts delivered via the web in an easy-to-use form= at. THE HUB OF COMPETITION: THE FUTURE OF THE GERMAN GAS MARKET This new= major multiclient study assesses the key issues in the German gas market = on both a strategic and an operational level. The study provides a framewo= rk for thinking about such issues as industry structure, strategy, and mar= ket development. NEW REALITIES, NEW RISKS: NORTH AMERICAN POWER AND GAS = THROUGH 2020 An authoritative CERA multiclient study that provides analys= is and scenario-based insight into the future of the North American power = and gas industries, including detailed long-term regionally specific marke= t and price outlooks through 2020. NEW RESEARCH INDIA-PAKISTAN WAR? R= ISKS AND IMPLICATIONS Prospects are growing that a short, sharp war could = occur between India and Pakistan over the next several weeks. It is not in= evitable; diplomacy could still pull the two parties back. OPEC TILTS TO = MARKET SHARE With demand growth evaporating, OPEC's efforts to gain non-OP= EC participation in production restraint reflect its growing concern about= market share now that prices are no longer rising enough to offset cuts i= n production. During 2001 OPEC lost market share by cutting its quota a to= tal of 3.5 million barrels per day (mbd) while non-OPEC production increas= ed nearly 600,000 barrels per day. NATURAL GAS WATCH: A SHORTAGE OF DEMAN= D Since January, natural gas prices have fluctuated between $2.00 per MMBt= u at the Henry Hub and $10.00, a result of weather, fuel switching, and in= creasing supplies. Loss of demand due to economic weakness is exacerbated = by the impact of the tragedy of September 11. Lower prices have already sl= owed drilling activity. Although ample storage levels will guard against l= ast year's peaks, gas prices will likely to continue to oscillate in the n= ear term. TWENTY YEARS LATER--A NEW SPIN ON WIND Energy security and env= ironmental quality considerations continue to increase the level of intere= st in renewable energy. Wind power is and will likely remain a leading ben= eficiary of the demand for more diversified and "greener" power. However, = when considering future market prospects, the competitive advantages of wi= nd must be balanced with certain realities. SPANISH GAS AUCTION: A PRECED= ENT FOR EUROPE? The recent auction of contract gas in Spain represents an = early initiative both to release gas from preexisting long-term contracts = and to make it available to aspiring market entrants. As such, CERA believ= es it could provide a precedent for other European markets (and for their = regulators) where release gas programs have not so far been on the public = agenda. RECESSION DEEPENS DOWN PHASE IN POWER MARKETS The US power genera= tion business is entering the bust phase of a boom/bust cycle. Most region= s have recently crossed an inflection point from tightness in the past to = surplus over the next few years. For more details on any of these reports= , go to: http://www.cera.com/news/highlights . MULTIMEDIA HIGHLIGHTS BEY= OND THE CRISIS: NEAR-TERM GLOBAL ENERGY FUTURES CERA President and CEO Jo= seph A. Stanislaw answers clients' questions on CERA's new global energy s= cenario initiative. NEW REALITIES, NEW RISKS CERA Senior Director Lawre= nce J. Makovich highlights the key themes of CERA's new multiclient study,= New Realities, New Risks: North American Power and Gas Through 2020. INF= ORMATION TECHNOLOGIES AND ELECTRIC POWER CERA Director Steven Taub discus= ses CERA's new Information Technologies and Electric Power multiclient stu= dy. EUROPEAN GAS ISSUES (Clients Only) CERA Director Simon Blakey sat do= wn recently with CERA's New Media team to discuss some of the critical iss= ues currently facing the industry and the short-term research focus of the= European Natural Gas service. CERA IN THE NEWS CERA and Sun Microsyst= ems announce the release of GLOBAL OIL TRENDS 2002 The global oil industr= y is beset by turmoil in the pricing of its basic commodity--crude oil. Ho= w does an industry so important to the world's economic system survive in = an environment of such extreme price volatility for its commodity? Global = Oil Trends highlights key developments--What are the trends in oil demand = and supply? Which countries are seeing increases in reserves and what is = refining capacity globally? For more information, please visit http://www.c= era.com/trends . E-Business Is Central to the Strategies of Energy Enterp= rises CERA Director Brian Costello's comentary on the role of e-business = and digital technology innovation in on-line energy trading in Line 56 mag= azine's November issue. COMMENTS? FEEDBACK? Please take a moment to r= eview this issue of Insights@CERA and let us know your thoughts by sendin= g an email to insights@cera.com . =09 =09=09 Our relationship with you is very important to us. If you prefer = not to receive Insights@CERA, please send a reply to this message with "Do= NotEmail" as the subject line of your message. ( mailto:insights@cera.com= ?subject=3DDoNotEmail ) Should you experience technical difficulties with= this message, please send a message to Insights@CERA.com for assistance. = 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 u= se of the contents of this message or any attachments, in whole or in part= , is strictly prohibited. Terms of Use: http://www.cera.com/tos Questions= /Comments: webmaster@cera.com Copyright 2002. Cambridge Energy Research A= ssociates =09
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