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Forum index » Medicine forums » nutrition
So much for the doom and gloomers
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ausound
medicine forum beginner


Joined: 16 May 2005
Posts: 1

PostPosted: Mon May 16, 2005 12:22 am    Post subject: So much for the doom and gloomers Reply with quote
Spehro Pefhany
wrote in
news:haqn715sctp4cdcf53vrkdacfvfsuhhjll@4ax.com:


Quote:
The administration's has been buying crude and replenishing the
strategic oil reserves all during crude's historic price rise. This
volume has been part of the overall American "demand" for crude. At
this price peak we have a supply buildup. Our oil men leaders need
not pump out any strtegic reserves to affect supply and prices, merely
curtail the rate of crude being dumped into the strategic supply

Okay, let's look at the numbers:

Amount of oil consumption worldwide: 56 million barrels per day
Amount of China's oil consumtion: 6 million barrels per day
ANNUAL Rate of growth of China's oil : +0.5 million bpd
Amount flowing into strategic reserve: 0.1 million bpd

Anyone who thinks that is going to make a lick of difference is
dreaming in Technicolor®. If prices are going up, it will just put off
the increases for a matter of weeks or months. If they are going down,
it won't make much difference either.

quite the celebratory week of posting, triggered by Tony Ross's robot

reporter glitch in failure to post last week.

funny how on paper a 0.1 Mbpd strategic reserve flow looks so minisule, yet
wall street would rally big time if a curtailment announcement were made.

thanks for the data Spehro

how's a 'bout if China un-pegs the renminbi from the dollar and floats
their currency?
I would reckon the dominos would end up falling as well as the price of
oil? No?
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