We got a bigger-than-expected decline because offshore production is still down by more than 50 percent and imports were down. The shock of Katrina is still being felt.

The real issue is offshore production.

Prices may decline a little on expectations of imports. Processors may have bought enough to keep plants going during the Lunar New Year and may reduce purchases.

I'm very excited to be here. It's much bigger than I expected.

The worldwide market for semiconductors in 2001 is expected to decline 31 percent due to excessive inventories and price pressure on a wide range of products, ... However, recent data indicates inventory is now largely in balance and prices are rebounding in some product categories.

In comparison, Cuba spent about $1 billion -- or more than 35 percent -- on petroleum imports,