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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: quehubo who wrote (82614)	3/16/2003 8:38:07 AM
From: John Carragher	Read Replies (1) \| Respond to of 281500

the economy is crashing from all over the world.. Where is the demand for gasoline and oil coming from? Is it not speculation,hoarding and futures buying up of product and once the war is over , if quickly , prices will drop. Speculators will be bailing out of contracts? I find it difficult to believe we cannot keep up with normal demands and the economy in a slump..

To: quehubo who wrote (82614)	3/16/2003 12:08:42 PM
From: FaultLine	Read Replies (3) \| Respond to of 281500

Expect electric prices to explode this Summer as well. Welcome to my world... --fl@pacificgasandelectric.com

To: quehubo who wrote (82614)	3/17/2003 1:08:34 PM
From: Condor	Read Replies (1) \| Respond to of 281500

Chavez is working to break the strikers moral and to convince the public that everything is "normal". The opposition to Chavez communicates several times a week production data that is much different than the Official data. If you understand what has happened in VZ (asset destruction) and understand the US import data, you will realize that the opposition has been close to the truth and Chavez has been lying all along. Hello quehubo, Re: Venezuela. FWIW , I contacted Platts Global Energy and inquired: "I would like to direct a question or comment to one of Platts editors. This question is for the editor of Oil. Region - Latin America. This question comes from latin_crude My question or comment is: Would you please comment on what is believed to be the current production level of Venezuelan oil compared to levels prior to the recent Chavez protest problems." The reply was: This is the big unknown. The Venezuelan government is making incredible claims about their production, which they say is now up to 3-million b/d. (To get to this level, they must be including production from the so-called heavy crude upgrading projects, which is not under OPEC quote). But unbiased observers, while not commenting on the actual production leve, believe that damage to the industry has led to a loss of about 400,000 b/d of capacity, so it would be impossible to be producing that much. Even if that capacity had not been lost, there is almost no way they could have ramped up to 3-mil b/d by then. So I would guess that the actual number might be a bit north of 2-mil b/d, but is unlikely to significantly rise much beyond that anytime soon. platts.com Regards C