  We analyze the X-ray spectrum of the quasar PG1211+143 observed with the CCD
and grating spectrometers on board XMM-Newton. Using an ion by ion fitting
model we find an outflow component of about 3000 km/s that includes absorption
lines of K-shell and L-shell ions of the astrophysically abundant elements. We
also identify and include in our model broad (FWHM = 6000 km/s) emission lines
from H-like ions of C, N, O, and Ne, and He-like ions of O, Ne, and Mg. The
outflow velocity we find is an alternative interpretation of the data and is in
contrast with the ultra high velocity of ~24000 km/s reported previously for
this object. Nevertheless, we can not completely rule out the presence of a
high velocity component due to the poor signal-to-noise ratio of the data.
