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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: stevedhu who wrote (74285)	9/22/2000 5:11:55 PM
From: Think4Yourself	Respond to of 95453

Actually it's even worse. Refineries have been running all out all summer. They are supposed to undergo maintenance around now under normal situations. I also see no impact from the extra crude other than psychological. It was obviously done for purely political reasons. OPEC members are correct when they say there is enough oil. It is a tanker problem and a refinery problem. They have gotten around the tanker problem but the Clinton administration will never admit there is a refinery problem because the administration helped cause the problem. Therefore I expect crude prices to come down but product prices to stay fairly high. Better profit margins for refiners and slightly less profits for domestic oil producers. Monday should be interesting, and a good day for the integrateds.

To: stevedhu who wrote (74285)	9/22/2000 5:15:33 PM
From: upanddown	Read Replies (1) \| Respond to of 95453

Steve They are talking about a million barrels a day for 30 days. That seems wildly optimistic. When this was also an issue last spring, someone mentioned that 100K might be the daily maximum. Where is the pipeline and refinery capacity? I also read on the FGH thread recently that salt dome storage can have a degrading effect on oil so it may not be suitable for some refineries. It is amazing the way the logistical details are glossed over. John