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Politics : Politics for Pros- moderated

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To: NickSE who wrote (4981)	8/13/2003 10:30:29 PM
From: LindyBill	of 793845

Light sweet crude sold for $32.22 per barrel yesterday on the New York Mercantile Exchange. Crude stood at more than $30 a barrel into December on the futures markets; it is expected to decline in 2004.John Lichtblau, chairman of the nonprofit, New York-based Petroleum Industry Research Foundation, dismissed suggestions that shipments for the petroleum reserve had a measurable impact on the global markets. ''It's a very small amount, 80,000 to 100,000 barrels a day out of total crude imports of nearly 10 million barrels a day,'' he said. Ahh, for the "Good old days" of 22 dollar oil! I am surprised they are doing it now. Sounds like a defensive move against the House of Saud, in case it blows up over there.

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