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To: Big Dog who wrote (59386)	1/30/2000 3:02:00 PM
From: Fun-da-Mental#1	Read Replies (1) \| Respond to of 95453

Big Dog (If I can jump in, Steve) the idea is once it breaks out, either up or down, it will continue that way for a while, so you make a quick buy or sell decision depending on which way it breaks out. Fun-da-Mental

To: Big Dog who wrote (59386)	1/30/2000 3:39:00 PM
From: dmccoach	Read Replies (2) \| Respond to of 95453

This "rumor" is gaining steam: 1/30 13:36 U.S. Energy Secretary Wants to Use Oil From Reserve, Time Says quote.bloomberg.com

To: Big Dog who wrote (59386)	1/30/2000 3:41:00 PM
From: dmccoach	Read Replies (1) \| Respond to of 95453

However, I like this story better: quote.bloomberg.com (Notice it states that the US is blocking Iraq's purchasing ability - Why would we put reserves on the market, but on the other hand keep Iraq from pumping?) 1/30 6:36 Iraqi Oil Exports Could Fall Because of Spare-Parts Shortage By Sean Evers Iraqi Oil Exports Could Fall Because of Spare-Parts Shortage Baghdad, Jan. 30 (Bloomberg) -- Iraq, OPEC's fourth-largest oil producer, may have to cut oil exports under the United Nations oil-for-food program because it lacks spare parts needed to upgrade facilities, the oil minister said. Amer Mohammed al-Rasheed, speaking to reporters as a UN team of oil experts completed a two-week survey of Iraq's oil production and export capacity, said ``we are really in serious difficulty. We are in the phase which we call risky or critical,' Iraq's official INA news agency reported. Production is closely watched because of its scale and because Iraq is the only Organization of Petroleum Exporting Countries member that doesn't limit output to boost prices. Iraq exported more than 2 million barrels of oil a day in 1999, or about 3 percent of world supply. The UN program is an exception to sanctions imposed after Iraq's 1990 invasion of Kuwait. The UN lets Iraq to use oil revenue to meet humanitarian needs of its 22 million population. Iraq is endangering production facilities to sustain oil exports, said al-Rasheed. The UN Security Council adopted a resolution on Dec. 17 that will remove limits on the amount of oil sold through the program and clear the way for the suspension of all sanctions if Iraq meets weapons-related obligations. Spare Parts The UN has allowed Iraq to buy $300 million worth of spare parts every six months under the oil-for-food program to repair oil infrastructure damaged during the 1991 Gulf War, and by nine years of neglect. Iraq has repeatedly complained to UN Secretary General Kofi Annan that it has received only a fraction of the spare parts requested to date because the U.S. has blocked approval of relevant contracts. The UN team of oil experts assembled by Saybolt International BV, a Dutch company contracted by the UN to monitor Iraqi oil exports, arrived in the country on Jan. 16 to ``prepare a comprehensive survey' of the oil industry which will be submitted to the UN Security Council, a UN official said. Deficiencies in infrastructure related to transportation, communication, storage capacity, power supply and safety measures were found by the team, the Associated Press reported. Iraq has more than doubled its oil production capacity to about 3 million barrels a day over the last two years.