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Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?

To: Diana who wrote (52171)5/18/2004 12:34:31 PM
From: Jorj X Mckie  Read Replies (1) | Respond to of 57110
 
you could be right there.

However, I don't think that it makes much sense for the strategic oil reserves to be built up while oil is at record levels, in order to release it with the hopes of dropping prices. That seems like a zero sum game.



To: Diana who wrote (52171)5/18/2004 1:03:18 PM
From: J.B.C.  Read Replies (2) | Respond to of 57110
 
>>Just saw that Kerry is calling for Bush to release some of the strategic holdings. Kerry may be thinking what I am thinking. <<

If I remember the data correctly, the strategic reserve amounts to less than 1 day usage of the US's energy consumption. The release would be of little impact and the issue doesn't become availability BUT the capacity of refineries to process. Most refineries already run at full capacity (over 90%).

Jim


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