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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: michael97123 who wrote (197948)	8/18/2006 4:06:12 PM
From: Hawkmoon	Read Replies (1) \| Respond to of 281500

Changing the direction of oil prices in the futures market is the key. US is a big user. Good point. But let's also remember that current oil stocks in the US are at over-flowing, from what I've read. Our oil inventories are at levels not seen since 1998, when the price of oil plunged from over-capacity. We may not see a replay of such a collapse in oil prices, but it's pretty clear there is a substantial risk premium factored in that is far in excess of the actual supply/demand equation. Hawk