Harken Energy Corporation (HEC) Message Board

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Gold/Mining/Energy : Harken Energy Corporation (HEC)

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To: Don Crespino who wrote (3348)	8/7/1998 7:51:00 PM
From: Rod Copeland	Read Replies (2) of 5504

To All.... Kinda off Topic... Kinda not. In talking to two of my crude oil purchasers today, I have learned that they are experiencing a 30 to 50% decrease in barrels hauled. It sure makes me wonder about the supply curve and the effect of reduced domestic production on it. The US produces approximately 6.5 million of barrels of oil per day. A 30% decrease is almost two million barrels per day off the market! That will cause a huge increase in our imports and our trade imbalance. Once oil goes back up it will compound the effect. I have not read anything about this decrease in the press or seen anything on TV about it. I know it is happening. I checked the numbers in the O & G Journal and they are not showing much change in US production from one year ago. It just doesn't make any sense. If anyone else has an idea about this, I would love to hear it. So if the Arabs cut 3 million and we are down 2 million.... hmmmmm. Thats a lot of oil off the market. Something doesn't jive. Just call me confused.

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