Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: marc chatman who wrote (40757)	3/24/1999 1:13:00 PM
From: SargeK	Read Replies (3) of 95453

Interesting post from Yahoo msg board "Supplies and Fixtures > UFAB (Unifab International, Inc) Doomberg at it again.... by: mxtr1 337 of 338 I found reason - spinsters are out claiming that API numbers are rigged - because they are somehow put out by industry source.... Doomberg energy's story is idiotic and reveals their well known bias on middle east issues.... Here's feedback I finally mustered up the nerve to send to them....: (Say Sarge, you may re-post over at si, if you wish) ----------------------------- Dear Bloomberg energy, Your constant negative spin reporting on energy news has been terrible and inexcusable.... The story today questioning API numbers is a blatant case in point wherein you suggest that API numbers are skewed because they are an industry source. That's nearly libelous. In any case, it's false. Do you have a QUOTE from any recognized industry expert (like Mehdi Varzi) documenting that API has ever "rigged" its numbers....???? (You could have done this with USDOE numbers - which changed dramatically after Secretary Richardson came back from Saudi Arabia) API numbers are highly respected - and indeed, it was precisely API numbers last fall and again this past February that caused previous oil price rebounds to collapse. Now, if you have analysts who are questioning the meaning (rather than the factual substance) of the API report, that's fine - except that you need to let such analyst explain what other countervailing facts he/she has to make such a strong claim. Your writer's spin to suggest it was because of some API industry bias appears yet another deliberate "Doomberg" cheap shot aimed at derailing the energy rally.... It would be nice to see relatively objective reporting in future from Bloomberg Energy." K

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