Roebear: Take a gander at the early release of the EIA's 2000 energy report.
eia.doe.gov
Even, these guys are starting to "get it" <g>. They totally blew it on Asia, didn't they? <GGGGGGG> Imo the worldwide energy demand numbers cited are quite conservative and will once again err on the low side. They are blowing it right now on Europe and Latam.
Oh yeah, and not one word about the notorious, the infamous, the mysterious - "Missing Barrels"! Presto - Chango, world crude stock where a lot smaller than originally thought. Wow, the Wizard of OZ stands revealed.
Do you recall Big Dogs 20 questions interview with Matt Simmons. He told us to watch OECD stocks, right about now. He said that if OECD stocks start to fall then the "missing barrels" were a fake, a fraud, and a phony. Well guess what? OECD stock are falling. This means that world crude stocks are one hell of a lot smaller than previously thought by oil traders. Maybe the "speculators" in the crude markets aren't as wacky as some think. I also believe that the 77.x mbpd demand number will have to be revised up in the next few months. BWDIK, I'm just a guy who learned arithmetic in grade school. Still, differential equations, fast fourier transforms, and celestial mechanics, aren't required for calculating THE PRICE OF OIL STUPID.
Just some random weekend musings.
Bull |
