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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (8898)	3/19/2003 7:28:32 AM
From: loantech	Read Replies (1) \| Respond to of 39344

Russ, More of the same today. Stock futures up, bonds down, foreign currencies down, gold up only a tad. Surprised at how hard bonds have been hit. This may take quite some time to reverse?? Tom

To: russwinter who wrote (8898)	3/19/2003 3:28:20 PM
From: peter snowdon	Read Replies (1) \| Respond to of 39344

what i'm thinking of is specifically the question of how tied china is to low sulfur fuel. faber mentioned this issue a while ago. see for example: brook.edu here is another factor that could also exacerbate the competition for oil between China and other East Asian states. Chinese oil refineries are primarily set up to process oil with a low to medium sulfur content. Because the volume of this type of oil is gradually declining in the world market, China's competition with Japan, Indonesia and South Korea is increasing. Facing the need to adjust itself to the increasing volume of Middle East oil with high sulfur content, China needs sound investment in its refinery sector. Both these factors are placing additional pressure on China's energy industry. that remark dates from 1999, so clearly the situation may have changed since. (the whole article is also worth reading for the light it sheds on china's attitude to iraq.) if anyone can point me to any reliable sources on whether china will continue to prefer low sulfur oil for the foreseeable future, i'd be very grateful. peter