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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Winkman777 who wrote (62075)3/13/2000 9:38:00 PM
From: BigBull  Read Replies (1) of 95453
 
Winkman, I hope the analysts are right for once. IMO refiners are going to have to get real busy, real soon, or there probably won't be enough gasoline to go around. We've got to get up to 95% capacity, that should suck up gobs of crude. I don't think that OPEC would actually mind a brief dip in prices so as to get these US refiners profitable enough to ramp up runs. I am not sure about the lag times involved with the new opec crude arriving onshore US and refiners processing the stuff. My bet is that any drops in crude prices will result in tremendous commercial buying by refiners, as gasoline prices have escalated so dramatically recently. I wish I had a rough formula for calculating when refiners make enough profit to draw more crude off the market. Let's say using WTI prices and Nymex regular unleaded futures prices. You don't know of one do you. It might help us determine just when the commercials will step up and buy crude.
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