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

To: t4texas who wrote (41140)	3/31/2005 10:23:25 AM
From: CommanderCricket	Read Replies (1) \| Respond to of 206316

t4, There was quite a bit of discussion about it on CWEI thread. I'll go dig it up and post. Isn't interesting WS is now using $50 dollar oil for 2005. Convinced lunch yesterday was IT low. Slowing building positions as the E&P's come back up. Waiting to see how they retest resistance at 20dma or 50dma in some cases. Michael BTW: When are you heading back to China? I've friends in Seoul and Shanghai we may visit in June or July.

To: t4texas who wrote (41140)	3/31/2005 12:32:19 PM
From: Keith J	Read Replies (1) \| Respond to of 206316

Congress authorized the expansion of the SPR to 1 billion barrels way back in 1992 as part of EPAct. Of course, there would need to be budget requests to pay for the additional infrastructure that would be required and for the oil itself, which has not happened to date and is not in the FY06 request. Also, DOE has indicated that a storage capacity study conducted in 2003 revealed an additional 27 million barrels of available capacity in existing facilities - my guess is sooner or later, they will try to add those barrels. "10/24/92 -- P.L. 102-486 enacted, broadening the circumstances under which the SPR can be tapped, providing for expansion of the SPR to one billion barrels, and including further provisions affecting leasing, potential purchases of oil stripper well production, and requiring a study of how U.S. insular areas would be accommodated in the event of a disruption." KJ