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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 220.66

+1.6%

Nov 21 9:30 AM EST

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To: GST who wrote (108135)	9/8/2000 10:27:05 PM
From: Glenn D. Rudolph	Read Replies (2) of 164684

GST, I am not in agreemnt with you regarding the market falling apart due to the cost of energy. The possibility exists and I am now on margin and am concerned. You are correct about no net new refiner capacity coming on-line for ten years or more. You stated twenty years and that may be correct. There are no net new refining capacity systems in the works based on information I looked at compiled by the DOE which is typically accurate. I did read the fastest new refineries can be built is three years and typical time frame id five years. One of the major problems you pointed out was the major refiners took many refineries off-line to do maintenance while they waited for raw crude to drop in price. Now we have refineries that are well maintained and ready to roll but at a time when refined distillates are at close to the lowest inventory levels that I can recall and demand for this pariticular refined product is going to escalate within eight weeks. They can all refine distillates but what happens when gasoline stocks drop to the point of spot gasoline shortages? This was a really stupid move to say the least.

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