I question the reason for the very low crude stocks. Imports are remaining at higher levels and we are in a slowing economy - there is a disconnect between the amount of oil being imported (plus domestic production), the expected rate of consumption in a slowing economy, and the level of crude stocks - I think the difference is likely the administration adding to the strategic petroleum reserve as a part of preparing for a showdown with Iraq.
<Or do you think they would just take a chance that it will be a short war,> That would taken a hell of a chance. Unless Iraqi infrastructure collapses and there be a pro-U.S. group that accomplishes a goverment take over--it will not be short; as we don't have their army lined up on the Kuwaiti border this time. Max
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