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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 84.82

+3.0%

Feb 6 9:30 AM EST

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To: RetiredNow who wrote (68054)	6/16/2005 5:29:20 PM
From: pfalk	Read Replies (1) of 77400

If oil prices are high because refinery capacity is "maxed out", wouldn't that affect the price of refined stuff (gasoline) only, not crude? What we are essentially saying is that refineries can't process as much crude as they'd like, thus buying less rather than more crude. What's the point of buying crude if you can't process it? I believe that the high price of gasoline in the US is caused by refinery capacity limitations (I know that's the alleged reason for Californias high gas prices). But that doesn't necessarily mean that refinery capacity is limited world wide. The high crude price worldwide, is most likely because of high demand, world wide. The only alternative is diminishing supply, which is possible, but less likely, given how fond everybody are of money. P.

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