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


To: Les H who wrote (32803)12/14/1998 7:20:00 AM
From: SliderOnTheBlack  Read Replies (6) | Respond to of 95453
 
US to ''consider'' buying $1 Billion in Oil for Strategic Reserves...

per CNBC report & comments from Energy Sec. Richardson. Keyword is ''considering'' - not a done deal; but comments on the historic low price and the ancilliary benefits to the Oil Industry were mentioned; as well as the ''timing'' of the purchase could move crude prices.

Hard to imagine that our Government could have such foresight to actually buy when prices were at historic lows...and actually recognizes that it would help the Oil Industry; allmost too good to be true.

fwiw...