
Date: Fri, 18 May 2001 02:11:00 -0700 (PDT)
From: lisa.yoho@enron.com
To: chris.long@enron.com
Subject: Statement at AISI conference
Cc: richard.shapiro@enron.com
Bcc: richard.shapiro@enron.com

Chris:  Following up on my earlier email which reported on the comment made
by IPSCO's CEO at the steel conference that "traders should be held legally
responsible for what's going on"......it appears that there is a push by the
domestics to change the trade laws to "obtain relief from injury caused by
traders who facilitate dumping."   In a speech to the Steel Caucus last fall,
LTV's Chairman stated that " International steel traders and foreign steel
producers are becoming ever more sophisticated -- and brazen -- in their
evasion and circumvention of U.S. trade laws."

We need to keep a close eye on their lobbying efforts in Washington.   I am
especially concerned about this in light of Nucor's comment to Jeff McMahon
that Enron's activities may be "illegal."   [FYI, I have discussed this with
Julia Murray and Betsy Hafner (PGFM), and they don't agree with Nucor's
allegation.]   Having said that, they are totally paranoid about Enron's
entry into the steel market, and I want to make certain that we're not the
subject of an unfair trade investigation.

Let's get together with Betsy to discuss as soon as she returns from India.
Thanks.

Lisa
