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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: CalculatedRisk who wrote (42314)	9/26/2005 11:20:19 AM
From: russwinter	Read Replies (2) \| Respond to of 110194

Latest update on "dicey" refineries at WSJ.com: Citgo, Lk Charles (324,300): offline for three weeks Total, Pt. Arthur (233,500): offline 2-4 weeks, CNN reports 4-5 weeks Valero, Pt. Arthur (255,000): 2-4 weeks Motiva, Pt. Arthur (285,000): wind damage, no startup date COP, Westlake (239,400): inspection underway Calcausieu, Lk. Charles (30,000): unknown XOM, Beaumont (338,500): no significant damage, appears to be awaiting power? Katrina refinery update: XOM, Chalmette (187,200): back up in 1Q, 2006 Chevron, Pascagoula (325,000): could be back mid-November? I counted 1,548,000 capacity at other locations, "expected to restart mid-late week", or at reduced capacity. In total this suggests 3 million barrels/d offline for at least the next several days.

To: CalculatedRisk who wrote (42314)	9/26/2005 5:09:25 PM
From: russwinter	Respond to of 110194

I guess we can safely say a lot of people want out at these prices, and at least many are still being accommodated? But how much longer? Just a lot of activity, but the changes in lending practices and pricing from junk lending purveyors like NEW yahoo.reuters.com may change the financing ability for the buyers. US Home Sales: 2002..5,631,000 2003..6,183,000 2004..6,784,000 2005..7,290,000 (August-seasonally adjusted) US Housing Inventory: 2002..2,108,000 2003..2,250,000 2004..2,214,000 2005..2,856,000 (August-seasonally adjusted)