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Politics : Welcome to Slider's Dugout -- Ignore unavailable to you. Want to Upgrade?

To: Nixpix who wrote (14664)	1/22/2009 10:01:48 AM
From: jim_p	2 Recommendations Respond to of 50424

I started buying small positions at 2.50 and 2.35. I think we will see the low 2's again. You have to add 80M Bbls to the storage numbers plus another 35M Bbls were looking for tanker storage last month. That would put storage numbers higher than they were back when oil prices crashed down below $10 in the 80’s. Storage will continue to build as long as future prices exceed spot prices by more than the cost of storage. If we get a crash into the 20’s it will be short lived because we never built up a large supply cushion in the past up cycle.