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Non-Tech : General Electric (GE)

GE 288.53

-3.3%

3:59 PM EST

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To: Dennis who wrote (1419)	9/10/2000 4:54:26 AM
From: Arthur Tang	Read Replies (2) of 3256

Oil price is merely futures, no one ever takes delivery. As you know, oil comes in many different grades. The most expensive is the sweet, contract delivery was $18.5/barrel delivered in Galveston, Texas.. Sweet chemically is full of water. Sour in Texas is up to 2% in sulfur. Cheapest delivered crude in Mexico, is $5 per barrel. Iraq is $8, Indonesia is $12. United States only imports 25% of our needs now. So, Saudi is lamenting that their oil will be sitting in the ground. US currently imports mostly from Mexico and Venezuela. Heating oil stock will not increase until the heating season starts in November. So, that is in a nut shell. We are in good hands. GE is in good hands too.

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