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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: sea_biscuit who wrote (39305)	9/22/2000 6:34:40 PM
From: Neocon	Read Replies (1) \| Respond to of 769667

An interesting, if unsubstantiated and intuitively unlikely, "explanation" of petroleum economics.........If what you said were correct, we would see much greater price volatility than is in fact the case.......but, hey, you could be right.......

To: sea_biscuit who wrote (39305)	9/22/2000 8:10:12 PM
From: flatsville	Respond to of 769667

Dipy-- I agree that the release from the SPR for November is clearly a case jawboning the market down. The intent is to shake out the speculators and ease the artificially created shipping constraints. There's a credible rumor that there's oil on the water--tankers kept at sea on purpose. The tankers were purchased by speculators with the express purpose to keep the oil off the market. Pull a chart of TK and you'll see what the stresses in the shipping industry have done to shipping stocks: 207.61.23.98 The real problem will come in November for either candidate (now President) when the drop in oil prices doesn't tranlate into lower heating oil prices--given that refining capacity is the problem, not the price of oil.