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To: Umunhum who wrote (109713)9/17/2008 9:57:46 PM
From: RWS  Respond to of 206161
 
Its good to see a post from you. I was wondering if you made it through this selloff as I recall you were heavily long oil futures far out. Did you liquidate any of your holdings?

RWS



To: Umunhum who wrote (109713)9/17/2008 10:08:09 PM
From: Bearcatbob  Respond to of 206161
 
Do you know what consumption is and not just supply? Does supply mean refinery runs? Note - inventories are down.

So - consumption should be production plus inventory draw. Is the decrease stated really consumption decrease?

Bob



To: Umunhum who wrote (109713)9/18/2008 11:34:54 AM
From: carranza2  Respond to of 206161
 
Are you adding to TLM?



To: Umunhum who wrote (109713)9/18/2008 12:52:43 PM
From: donc  Read Replies (1) | Respond to of 206161
 
..i believe Bearcatbob is correct..we must adjust for inventory..so at the bottom of the table you cite we see that inventory total including SPR is -46.1mb from last year..so we consumed MORE than what 863 mbd implies to the tune of
46.1mb/255days= 180,784 mbd added to =-863 = -683,784 mbd adjusted which means price has cut demand even less than we calculated..

have i done this correctly?..my logic becomes fuzzier the more i think on this..

donc


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