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 : Harken Energy Corporation (HEC) -- Ignore unavailable to you. Want to Upgrade?

To: Don Crespino who wrote (3348)	8/7/1998 7:51:00 PM
From: Rod Copeland	Read Replies (2) \| Respond to of 5504

To All.... Kinda off Topic... Kinda not. In talking to two of my crude oil purchasers today, I have learned that they are experiencing a 30 to 50% decrease in barrels hauled. It sure makes me wonder about the supply curve and the effect of reduced domestic production on it. The US produces approximately 6.5 million of barrels of oil per day. A 30% decrease is almost two million barrels per day off the market! That will cause a huge increase in our imports and our trade imbalance. Once oil goes back up it will compound the effect. I have not read anything about this decrease in the press or seen anything on TV about it. I know it is happening. I checked the numbers in the O & G Journal and they are not showing much change in US production from one year ago. It just doesn't make any sense. If anyone else has an idea about this, I would love to hear it. So if the Arabs cut 3 million and we are down 2 million.... hmmmmm. Thats a lot of oil off the market. Something doesn't jive. Just call me confused.