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Post# of 704019
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Frank Pembleton

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Frank Pembleton

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Re: augieboo post# 31453

Wednesday, 10/02/2002 7:06:04 PM

Wednesday, October 02, 2002 7:06:04 PM

Post# of 704019
Augieboo... I'm not so sure there is a war premium anymore. Have you looked at the latest DOE stats? We're sitting at 275 million barrels of crude in inventories ... we've got about 60 days of inventories within the SPR and less than 20 within the refining complex... and I'm sure we've got countries out there hording oil as much as they were hording copper and nickel earlier this year.

This summers delivery to the Port of Houston by the Russians was more or less a gesture of goodwill ... fwiw, they're expecting to make regular deliveries within the next five years, no sooner due to the lack of infrastructure. (a deep shipping port and more refineries)

Anyway, I'm thinking there is a shortage until the U.S. puts a military base in Iraq (51th State?)

What did your chart say?



FP........................................................

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