The energy industry won't match the blistering rise in profits it enjoyed in 1996. The problem isn't demand. Even though Asia's energy-hungry Tigers should moderate their pell-mell expansion, worldwide energy demand will still rise perhaps 2.4%, just short of last year's torrid 2.7% rise. Supply isn't a problem, either. Iraq's return to the world oil market should depress prices only slightly by adding 600,000 barrels of oil a day to supplies.
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