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

To: Elroy Jetson who wrote (115976)	12/30/2008 3:09:36 PM
From: 8bits	5 Recommendations Respond to of 206330

Elroy - I'm skeptical of your belief that China stockpiled oil to run their closed factories during the August 2008 Olympics. I'm sure upon reflection you'll regret having said this. No regrets... "Beijing to build extra energy stockpiles for Olympics Beijing will try to ensure energy supplies during the Olympic Games with extra stockpiles of oil, liquefied petroleum gas and coal, officials of the Beijing Municipal Development and Reform Commission said on Monday. " china.org.cn afp.google.com "Runaway oil prices were also partly fueled by "stockpiling in China to prevent shortages ahead of the Olympics," said Lehman Brothers analyst Edward Morse. Elroy - I think you meant to say that July 2008 was the same month that Iran began to stockpile oil in idle tankers, not released a substantial amount of oil on the market. And Iran's crude is almost exclusively sour. No the storage occurred before July: "June 2 (Bloomberg) -- Iran, OPEC's second-largest oil producer, increased the number of tankers idling in the Persian Gulf to at least 14, indicating it may be storing more crude, ship-tracking data show. Iran has at least 14 very large crude carriers, or VLCCs, floating near Kharg Island, a loading facility. In April, there were 10, holding at least 20 million barrels of oil, people familiar with the situation said at the time. Shipbrokers also reported that Iran hired three more tankers, which have been near Kharg Island for at least two weeks." bloomberg.com Elroy - I'm also surprised by your claim that the Saudis had a marked increase in production in June 2008, when so many on this board have assured us that Saudi Arabia has no ability to increase production. I don't know what Saudi Arabia's production capacity is but they clearly had been increasing their production in the early part of the year through July. Opec increased production by over 600,000 barrels a day from January to July, with marked increases from Saudi Arabia in May, June, and July. mees.com So 600,000 barrels a day would easily offset the maximum fill rate of 75,000 barrels that the US was adding to the SPR. As I pointed out there were other commodities that peaked in July, copper for one: kitcometals.com

To: Elroy Jetson who wrote (115976)	12/30/2008 4:17:46 PM
From: elmatador	Respond to of 206330

Ethanol sales top gasoline sales in a first in Brazil 1 hour ago SAO PAULO (AFP) — Ethanol sales for 2008 for the first time are outpacing those of gasoline in Brazil, a top ethanol producer, the National Petroleum Agency reported Tuesday. The figures only take into account sales of hydrated ethanol that can be used in its pure form in most cars in Brazil, and not anhydrous ethanol that is used just to blend with gasoline, the agency said. Sales of hydrated ethanol, through October, hit 15.8 billion liters (4.2 billion gallons), up 44.9 percent from a year earlier, it added. Brazil is a leading producer of ethanol from sugar cane, the world number two after the United States, which uses corn as its base plant. But about 90 percent of cars sold in Brazil's market can be run on either ethanol, gasoline or a mix of both in any proportion. Ethanol costs about .63 cents USD per liter compared to 1.07 USD locally for a liter of gasoline.