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To: Think4Yourself who wrote (72072)	8/31/2000 10:25:45 AM
From: chowder	Read Replies (3) \| Respond to of 95453

Hello Q! I thought I'd share some information with you and the others, in hopes of getting some feed back. A friend of mine, goes by the name Bull Derrick, (I hope he doesn't mind my using his name), gave me an interesting scenario regarding the oil inventories. >> Remember that on November 1, all the gasoline must switch to Winter formula in the EPA regions, which is where 90% of the population resides. To do this, the refineries cut back on their production in September and October to run out their summer formula storage so they have room to put the new formula. Over the next six weeks, expect the refinery utilization to fall from 96% to 86%. What happens to the crude that they don't convert into gasoline? Some will be used for heating oil, but the crude oil inventory will probably back up some 20-30 million Bbl more than it is today over the next 6-8 weeks. << Some food for thought? dabum

To: Think4Yourself who wrote (72072)	8/31/2000 1:57:26 PM
From: Evolution	Read Replies (1) \| Respond to of 95453

"Two thirds of the price of gasoline paid by motorists in Europe goes to their own governments in tax Imagine what Europe consumption would be if they didn't pay so much tax on gas! Consumption would much higher, and oil price higher (relatively). European gas at the pump would be less expensive (less tax), but American gas would cost more (oil price higher). In conclusion, Americans should be thankful to Europeans for limiting their consumption by taxing themselves to death. Well, actually, the Europeans are proof that one can live, in the long run, by paying a lot more for gas. What's painful and dangerous is too fast a transition from low to high prices, a "shock". The argument that we should be OK because gas is cheaper today than it was 20 years ago, inflation wise, is true, but only after we have adapted. Of course we can adapt, but how fast? Too fast a rise may cause disruption. If gas were to cost $6/gal, I wonder how long it would take for the average American to accept to trade the SUV with a small economical car... I realized something recently: I have lived a year or so in France 5 years ago and gas was around $5 or $6/gal. My wife and I were sharing one of the smallest car you can find there. I haven't made a rigorous calculation, but I am sure I was paying less in gas per week for the same activity as we do now (go to work, go shopping, go to the movies...). The differences were the car consumed half, anywhere we needed to go was much closer, and public transportation was often available. e.