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Politics : Formerly About Advanced Micro Devices
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To: Joe NYC who wrote (124647)9/24/2000 1:23:56 AM
From: BubbaFred  Read Replies (1) of 1570340
 
Note the supply and delivery time (i.e. shipping).

Buying time is correct, but it is also the proper course of action to release some of the emergency reserves. Don't forget higher supply is on its way, say in two more weeks. The increased supply has been in the works for several weeks. It takes time to get the infrastructure refitted for higher output. Note the domestic wildcat wells are still capped and there has been no plan by any of the majors to start them because they know the high prices will not last long enough to make it worthwhile to start the wildcats. The reason is as stated above - more of those light sweet crudes are on their way.

There is no assurance the forthcoming supply will actually get here. Iraqqi Satan husein may decide to stop Iraqi oil. For what? To help Bush?, or to try prevent Lieberman from becoming the next Vice President? We'll see.

As of now, partial release of the reserve is a good and calculated move, politics or not. If it is not used now, when will it ever be used? Probably only when there is national emergency, in which case, it will only be used by the Dept of Defense military equipments.

IMO, the decision is an enlightened one, and good for the national economy.

Also check XOI. There is strong negative divergences showing for the last 2 months, in both daily and weekly charts. I don't have the crude oil futures data, but I am pretty certain they show the same story.
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