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

To: Wharf Rat who wrote (207775)	11/6/2006 6:50:52 AM
From: jttmab	Read Replies (3) \| Respond to of 281500

Give me your questions; I'll post them on the Oil Drum tomorrow morning. Somebody there probably has the answers. Thanks. My wife tells me I ask too many questions; I'll keep it to two/three. 1. When the SPR releases oil to the oil companies are there any conditions that the refined oil has to be used in the US or does it go on the global market? 2. Do oil companies actually purchase oil or is it always "borrowed"? [with fees] 3. If oil companies buy oil from the SPR how is the price established? This could open a can of worms ... if oil companies actually purchase the oil and the oil is set at market price that would suggest that the SPR is making [or can make] a profit. jttmab