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To: patron_anejo_por_favor who wrote (25955)	10/9/2000 2:17:01 PM
From: pater tenebrarum	Respond to of 436258

lol...incredible...

To: patron_anejo_por_favor who wrote (25955)	10/9/2000 2:36:24 PM
From: Les H	Respond to of 436258

All the networks are describing a close race: gallup.com Bush up 49-to-41

To: patron_anejo_por_favor who wrote (25955)	10/9/2000 2:41:22 PM
From: Ken98	Respond to of 436258

Glad to see Dow Jones picked up the story, but they missed the part of the story that ONLY 30+% of the oil will ever make it to any domestic refineries: <<The DOE's Mr. Kripowicz said the agency decided not to ask for financial guarantees before accepting the companies' bids. "Speed was a factor" in making the awards, he said, because the administration wants the oil delivered to refineries next month. Under the terms of the swap, the winning companies must give DOE irrevocable letters of credit from banks by Thursday, covering the value of the oil being borrowed. Otherwise the oil likely would be put up for bid again, he said. Mr. Kripowicz said DOE contracting officers checked the firms' names using computer searches and with "major [oil] traders who said they were dealing seriously with these people.>> Damn right "speed was a factor" - there is an election coming up on November 7th. And heaven forbid that anyone notice that EIA slips out a press release late Friday acknowledging that most of the oil is not even going to stay in the country: <<President Clinton told the press late Thursday that he was going to watch the heating oil situation like a hawk as it was critical to get this oil to the Northeast were it was needed. But early Friday evening, the Associated Press reported that Mark Mazur, acting head of the Energy Information Agency, announced that only about a third of the 30 million barrels of SPR oil will go to U.S. refineries. The rest is apparently going to be sold into foreign markets, but Mazur said that they will "displace" 20 million barrels that refineries will not buy elsewhere. (I am not sure I understand this logic. Is the revised goal of the SPR to help lower our balance of payments or ease the logistics manager of a refineries job in lining up crude?) If delivering only 10 million barrels of SPR crude to U.S. refineries becomes the final chapter of what was originally meant to save a heating oil crisis, it is worth noting that 10 million barrels of crude only translates into 800,000 to 900,000 barrels of high sulfur heating oil. On a cold day in the Northeast, this lasts about 12 hours or less.>>