Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Barry Cartwright who wrote (22947)	5/28/1998 8:43:00 AM
From: drsvelte	Read Replies (2) \| Respond to of 95453

Here's an interesting take on the increase in crude inventories (from Motley Fool/AOL): Subject: Re: API #s Date: Thu, May 28, 1998 08:22 EDT From: BROOKPE Message-id: <1998052812222400.IAA13184@ladder01.news.aol.com> >>He added that the API stockdraw should also have been larger considering it reported a large drop in crude oil imports of 990,000 barrels. << Ah ha! Someone finally recognized the simple fact that the API AND DOE NUMBERS NEVER "FOOT", (they never work together to make any sense). US Production can be down, imports can be down, refinery runs can be up, and crude oil will have an amazing inventory build. I have preached this so many times that I am weary. I have also postulated that the only reason anyone in a responsible position of buying crude inventory to make finished products would have to build inventory is because they believe THE PRICE IS CHEAP AND IT IS A GOOD BARGAIN. Anyone who has had the pleasure of handling and storing large volumes of crude oil knows this to be true. Thus, the build in crude oil inventories can be viewed in the positive light that BUYERS THINK THE PRICE IS GOING UP. Nobody can force you to take their oil, you can tell them to leave it on the tanker and they accept the environmental risks, while you earn interest on your money waiting for the price to go down. Anyway, I feel that the crude inventories will continue to decline from here. Drill or be Drilled