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

To: ChanceIs who wrote (114577)	12/4/2008 6:30:01 PM
From: Spekulatius	Read Replies (1) \| Respond to of 206346

Shell, Koch Contract 4 Supertankers for Storage in U.S. Gulf I think they wan't to lock in the contango spreads which i think they are going to lock in via hedges. Tanker capacity ought to be cheap to rent right now. All they need is put up collateral and Shell/Koch should have no problem doing that.

To: ChanceIs who wrote (114577)	12/4/2008 7:58:05 PM
From: Tommy Moore	Read Replies (1) \| Respond to of 206346

A different spin on tanker storage. Market seems to be confirming this scenario. Comments? seekingalpha.com Mike Rothman, of New York consulting firm ISI, said: The Gulf is crammed with supertankers chartered by oil-producing governments to hold the inventories of oil they are pumping but cannot sell. Iran is also getting in on the action, and at last report, Iran had leased 10 oil tankers to hold 20 million barrels of oil no one wanted to buy. Renting oil tankers is a desperate move. Regrettably, desperate moves rarely pay off. In this case, the stored up oil is going to help keep a temporary cap on oil prices when the global economy shows some signs of life again. If oil prices jump, the owners of the oil will certainly start to sell off the millions of barrels of oil they’ve just been sitting on. When Bubbles Burst.............