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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: ild who wrote (44875)	1/20/2006 3:12:46 PM
From: Knighty Tin	Read Replies (1) \| Respond to of 116555

I'm glad I'm not the only one. I was beginning to think it was my 1986 Bill Cosby Model Texas Instruments personal computer causing the problem. <G>

To: ild who wrote (44875)	1/20/2006 3:24:54 PM
From: mishedlo	Read Replies (2) \| Respond to of 116555

Kuwait oil reserves only half official estimate-PIW LONDON, Jan 20 (Reuters) - OPEC producer Kuwait's oil reserves are only half those officially stated, according to internal Kuwaiti records seen by industry newsletter Petroleum Intelligence Weekly (PIW). "PIW learns from sources that Kuwait's actual oil reserves, which are officially stated at around 99 billion barrels, or close to 10 percent of the global total, are a good deal lower, according to internal Kuwaiti records," the weekly PIW reported on Friday. It said that according to data circulated in Kuwait Oil Co (KOC), the upstream arm of state Kuwait Petroleum Corp, Kuwait's remaining proven and non-proven oil reserves are about 48 billion barrels. Officials from KOC were not immediately available for comment to Reuters. PIW said the official public Kuwaiti figures do not distinguish between proven, probable and possible reserves. But it said the data it had seen show that of the current remaining 48 billion barrels of proven and non-proven reserves, only about 24 billion barrels are so far fully proven -- 15 billion in its biggest oilfield Burgan. Kuwait has been adding up to 500 million barrels a year at Burgan which means the remaining non-proven reserves of some 5.3 billion barrels will likely be upgraded to proven, according to PIW. Three consortia led by BP <BP.L>, Chevron <CVX.N> and ExxonMobil <XOM.N> are in the race for Project Kuwait, a 20-year operating service contract to raise crude capacity at four oilfields in the north of Kuwait.

To: ild who wrote (44875)	1/20/2006 3:34:21 PM
From: mishedlo	Read Replies (1) \| Respond to of 116555

Scandal in Japan may reach S. Fla. shores The U.S. headquarters of embattled Japanese Internet giant Livedoor is located in Miami miami.com

To: ild who wrote (44875)	1/20/2006 3:37:22 PM
From: mishedlo	Respond to of 116555

Tyson, Smithfield shares decline on ban JAN. 20 12:12 P.M. ET Beef processors Tyson Foods Inc. and Smithfield Foods Inc. saw their shares retreat Friday after Japan closed the door on U.S. beef imports less than six weeks after the country lifted a two-year ban. Losses were slight, however, given that Japan had only lifted its ban on U.S. cattle imports younger than 20 months old -- a slim 5 percent to 10 percent of the U.S. market, said FTN Midwest Research analyst Christine McCracken. Factor in the country's preferences for taste and cut, and an even smaller portion would be available for export. "This doesn't really change a lot," she said. "It's obviously disappointing, but at the end of the day, it doesn't change our outlook." The analyst said she maintains a "Neutral" rating on Tyson and a "Buy" rating on Smithfield. Shares of Tyson fell 26 cents to $16.23, while Smithfield shares dropped 33 cents to $28.97 in midday trading on the New York Stock Exchange. Japan had been the most lucrative overseas market for American beef before a ban was imposed in December 2003, following the discovery of the first case of mad cow disease in the U.S. herd. A recent shipment contained material it considered at risk for mad cow disease, prompting the country to again halt imports. Mad cow disease is the common name for bovine spongiform encephalopathy, or BSE, a degenerative nerve disease in cattle that is linked to a rare but fatal nerve disorder in humans, Creutzfeldt-Jakob Disease. "Our shipments to Japan have been steady since the market reopened," Tyson said in a statement. "However, as expected, volumes have been limited because of Japans import restrictions." The product that prompted the latest ban -- which contained bones that are not accepted by the Japanese -- was shipped by Atlantic Veal and Lamb Inc. The company said in a statement that "the product we shipped is safe and is widely consumed in the U.S. marketplace." businessweek.com