Rash

The recent rash of producer spending cuts (see related story)comes at a time when the message on prices from the analystcommunity is pretty gloomy, too. “There’s not much holding [gasprices] up,” said Thomas J. Woods, Ziff Energy vice president forU.S. Gas Services. Woods said Ziff has been warning its clientsthat current prices are not supportable. “We had put out some earlywarnings in July when prices first frayed, and we said that therewas a very significant possibility that this would go [on].”