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

To: SargeK who wrote (43600)	4/30/1999 12:11:00 PM
From: Linkdog	Respond to of 95453

Food for thought for the Board - To all oil industry types out there - I don't understand the arguments that we have too much inventoried oil. My thought is as follows; If you have excess inventory of oil and the price rises wouldn't you sell it out of inventory inbto the market at higher prices - an act which in and of itself would hold down prices. We haven't seen this type of behavior. Maybe 340 million bbls. isn't out of wahck with what the U.S. industry feels is an acceptable inventory level. Dose anyone have any insight??