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Technology Stocks : Semi Equipment Analysis

SOXX 301.15

-1.2%

Dec 31 4:00 PM EST

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To: Sarmad Y. Hermiz who wrote (17934)	8/11/2004 8:58:46 AM
From: Alastair McIntosh	Read Replies (1) of 95657

Re: I've read articles that say the oil in the reserve seeps away slowly - into cracks and fissures in the earth, and so the level is always dropping and has to be topped off continuously. Question: Why is the crude oil stored in salt domes? Answer: Salt formations offer the lowest cost, most environmentally secure way to store crude oil for long periods of time. Stockpiling oil in artificially-created caverns deep within the rock-hard salt costs about $1.50 per barrel. Storing oil in aboveground tanks, by comparison, can cost $15 to $18 per barrel - or at least 10 times the expense. Also, because the salt caverns are 2000-4000 feet below the surface, geologic pressures will seal any crack that develops in the salt formation, assuring that no crude oil leaks from the cavern. An added benefit is the natural temperature difference between the top of the caverns and the bottom - a distance of around 2000 feet; the temperature differential keeps the crude oil continuously circulating in the caverns, giving the oil a consistent quality. fe.doe.gov

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