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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: SliderOnTheBlack who wrote (40609)	3/23/2005 10:51:15 AM
From: XoFruitCake	Read Replies (1) \| Respond to of 206214

"Crude inventories rose 4.1 million. Motor gasoline down by 4.1 million. Distillate inventories fell 2.8 million barrels." SOB, what about the 2nd part of the number on the draw down of the gasoline and diesel? It seems to say that we have more crude oil coming but we cannot process them fast enough (or we don't import as much). Didn't it support the thesis that refinery capacity is limited and cannot process all the oil? I realized that this is only one data point. But if we see the same kind of number every week, I would incline to think that investing in refinery is a good bet..

To: SliderOnTheBlack who wrote (40609)	3/23/2005 11:34:20 AM
From: ChanceIs	Read Replies (2) \| Respond to of 206214

Texas NG January production down 20% YOY. I know that these are only preliminary numbers, and Texas has the Gulf and some Ivan "shut ins" still remaining, but December was down only 8% YOY. Yeah crude inventories are up, but the NG story is just a wee bit different this time. Why are crude inventories up??? Hoarding mentality??? What sense is there in putting crude in storage at these very high prices. What happened to the cost of inventories and just in time manufacturing. Are the refinery owners speculating through their storage mechanisms, or do they think its different this time. I seem to have read that one of the big NY banks (Chase Manhattan I think) had bought a lot of storage in New Jersey to back up its trading operations. rrc.state.tx.us