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

To: allevett who wrote (70461)	9/5/2006 2:23:34 PM
From: enginer	Read Replies (1) \| Respond to of 206326

Don't forget that with the actual shortage of land-falling hurricanes in the Gulf, many of these inventory decisions were made months ahead of time in anticipation of oil shortages that haven't materialized...yet.

To: allevett who wrote (70461)	9/5/2006 2:38:47 PM
From: CapitalistHogg™	Respond to of 206326

Over the past several weeks, the oil bears have been quietly emerging from out of the woodwork like cockroaches when the lights are turned off ROFLMAO. They sound testy. Oil to the moon!!! <bg>

To: allevett who wrote (70461)	9/7/2006 8:12:57 AM
From: Ed Ajootian	Respond to of 206326

allevett, this is a good piece by RJ and worthy of downloading and saving IMO. I found the chart of days of demand in OECD inventories at the bottom of page 3 most helpful. It would be neat to see this chart over a longer time horizon, ideally going back to the 70's (or whenever the OECD got created, if later). The current oil price boom is clearly the second longest one in history, second only to (and getting close to exceeding) the boom that went from about '77 to mid '80. It would be interesting to see what the number of days of demand in OECD inventories were toward the end of that earlier boom, and what they were at the end of any of the ensuing oil price booms. My point is that having the number of days of demand in OECD inventories being close to a 10 year low would seem to be inconsistent with a bearish stance on oil prices. Also, since China is not part of the OECD yet is a major consumer of oil, it seems that even the OECD inventory stats are becoming less relevant than they used to be. What is abundantly clear is that the US inventory stats are not very relevant to the price of oil any more.