Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: Sarmad Y. Hermiz who wrote (112112)	11/25/2000 10:51:30 PM
From: Victor Lazlo	Read Replies (1) \| Respond to of 164684

<<The US imports approx 9 million barrels of crude oil per day. It doesn't matter where the oil originates. Unless it is contracted in advance, spot prices are the same everywhere. >> Right, and quite a few producers are actually sill partially hedged at prices significantly lower than current market. <<If oil rises by $10/brl, that is approx $90 million per day EXTRA (just for imported oil into the US). And that is $30 billion per year that will go to foreign countries. >> Producing at full tilt, Iraq represents less than 5% of world consumption, whcih of course is still a lot. But I doubt that a 2% or 4% cut in supply would push prices up 30% ($10 barrel). Besides if you are so sure that it is going to happen, don't you think traders are? Wouldn't the price/barrel already have gone up a lot more? I pay a lot more attention to the DOE's inventory reports that come out every Tuesday afternoon than I do to the wild ramblings of a mad dictator. Victor