VOL. XLIV

No. 21

21-May-2001

GENERAL

TO: The Editor, Middle East Economic Survey (MEES),

Dear Sir,

I have read the paper of Dr Thomas Stauffer in MEES issue of 14 May 2001 entitled "Basic Dilemma of Gas Pricing In The Middle East: Project Profit Versus Economic Loss". The arguments of the article are based on wrong assumptions and correspondingly its conclusions are wrong.

First of all the article assumes that OPEC, the "swing producer," bears the full penalty of every single barrel displaced in...