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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Archie Meeties who wrote (2643)	8/15/2000 11:15:36 PM
From: Lee Lichterman III	Respond to of 33421

In my fortune rag ( 14 Aug Page 22), they put out an interesting statistic. One data center uses as much electricity as 6 40 story office buildings. Considering that Silicon Valley isn't in Alaska, is it really Joe six pack's air conditioner's fault that there is an electricity crisis in California right now? This may be the hidden downside of the technological revolution. Good Luck, Lee

To: Archie Meeties who wrote (2643)	8/16/2000 12:44:13 PM
From: John Pitera	Respond to of 33421

a very good post... the real shortages could be coming in the next 6 months. some data on the energy complex. ---- Oil prices fall as crude supplies climb But analysts says inventories remain tight By Myra P. Saefong, CBS.MarketWatch.com Last Update: 10:41 AM ET Aug 16, 2000 NewsWatch Latest headlines NEW YORK (CBS.MW) - Crude futures inched lower early Wednesday as a rise in last week's U.S. petroleum inventories eased some concerns over tight supplies, which are still more than 10 percent below the five-year average. On the New York Mercantile Exchange, September crude fell 21 cents to $31.46 a barrel. September heating oil declined 0.51 cent to 86.00 cents per gallon, and September unleaded gasoline rose 0.09 cent to 92.00 cents per gallon. September natural gas rose 1.6 cents to $4.245 per million British thermal units. The large inventory build in the API report and the moderate rise posted by the Energy Department "will put downward pressure on crude oil prices but does not change the situation facing oil markets," Allan Brady, an economist at the Dismal Scientist said in a weekly report. "Stocks of crude oil in the U.S. remain at historically low levels." After the market closed Tuesday, the API said last week's crude supplies rose 7.4 million barrels to total 286.4 million. That's more than 10 percent below the five-year average of API inventories, which stands at 318.9 million barrels, according to William Randol of Banc of America Securities. The API also downwardly revised stocks as of the week ended Aug. 4 to 279 million from 282.6 million. The 24-year record low for API crude stocks is about 282 million barrels. Due to downward revision of the previous week's data, "the net addition to inventory reported by the API is 3.8 million," Brady said - much smaller than the gross 7.4 million barrels reported. Analysts surveyed by Bridge News had predicted that last week's crude supplies rose 3 million to 3.5 million barrels, and had expected to see a revision to previous data following two weeks of unexpected declines. Early Wednesday, the Energy Department reported that crude supplies rose a smaller 3.4 million barrels to total 288.8 million barrels. Distillate supplies rose 1.9 million barrels, the API reported, compared to expectations for a rise between 1.8 million and 2.3 million barrels. The Energy Department said the supplies, which include heating oil, rose 1.3 million barrels. Gasoline inventories, according to the API, fell 3.34 million barrels. Analysts expected a drop of 300,000 to 700,000 barrels. The Energy Department reported a 2.2 million-barrel decline. Refinery production rose to 94.9 percent from the prior week's 95.2 percent, the API said.