Lower prices are likely to stimulate increased demand, but to what degree is unknown.

You can't have these sort of prices without a substantial effect on demand.

A 40-cent rise in gasoline prices does not stimulate demand, and frankly this is where I think many macroeconomic forecasts for 2006 are going to miss the mark.

Demand is as strong as ever and is likely to remain so. Prices are starting to weaken, but volumes can now increase.

Lower NAND prices would boost demand in a few months' time. We still see a 40 percent annual fall in NAND prices.

The drop is mostly from refining capacity comeback and, to a lesser degree, lower demand.