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Politics : Foreign Affairs Discussion Group

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To: Elsewhere who wrote (38050)	8/15/2002 9:33:34 PM
From: flint	Read Replies (1) of 281500

I was referring to the supply the refinaries have. If 6 million of the 9 million barrel drop in the supplies at the refinaries was the result of the US buying for their petroleum reserves this is panic buying. The reserves were ment to be built up over time in quantities so small they would have no inflating impact on oil prices. At 6 million barrels a week the strategic petroleum reserves could go from empty to full in less the two years. There is no reason to believe that there are less than 500 million barrels already in reserve. So why buy 6 million in one week? Tuesday the next oil report comes out. We will see then whether it was just some strange mix-up. Flint

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