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To: russwinter who wrote (16770)	7/21/2004 7:59:34 PM
From: orkrious	Respond to of 110194

prompting speculation that aside from a boom in demand, Beijing may be quietly building inventories. If I had as many dollars as they had, I'd be spending them on oil, too. I wonder if they are also buying gold. What are the people selling them the oil going to do with their dollars?

To: russwinter who wrote (16770)	7/21/2004 11:40:14 PM
From: Wade	Read Replies (1) \| Respond to of 110194

I think China is storing strategic oil reserve due to the coming Operation Summer Pulse 04 US navy exercise in July-August. China's oil supply can be cut off easily by US navy from Seventh Fleet and the new base at Singapore. China has only 7 days worth of oil reserve. They can't fight a war without oil. This is one of the the reasons why China importing and exploring oil like crazy. Stay tuned. freerepublic.com In an exercise code named Operation Summer Pulse 04, it is expected to arrange for an unprecedented seven aircraft carrier strike groups (CSGs) to rendezvous in waters a safe distance away from the Chinese coastline - but still within striking distance - after mid-July. This will be the first time in US naval history that it sends seven of its 12 CSGs to just one region. ocnus.net Even the old USS Kitty Hawk is deployed.