#OT# More BS on oil supplies
 

On Fri, 26 Dec 2008 15:42:06 -0800 (PST), Too_Many_Tools
wrote:

On Dec 24, 1:13*pm, F. George McDuffee gmcduf...@mcduffee-
associates.us wrote:
The US oil industry continues to [try to cook] their books. *It
just reported a large *DROP* [3.5 million bbls] in the amount of
crude oil on hand. *

Setting up the US consumer for another 4.00$/gal gas sucker
punch?

Does anyone know if the Strategic Oil Reserve is being
expanded/replenished with the big drop in oil prices?

When do we start sending some of these people [government &
industry] to prison?

=================
U.S. crude oil stocks drop unexpectedly: EIA
Wed Dec 24, 2008 12:20pm EST
By Haitham Haddadin

NEW YORK (Reuters) - U.S. crude stocks posted a surprise drop
last week, government data showed on Wednesday, and analysts
cited higher refinery operations and disruptions to imports due
to fog on the Gulf Coast.

However, the Energy Information Administration report also showed
another build in crude inventories at Cushing, Oklahoma, which
logged a 1.2 million barrel build week to a record 28.7 million
barrels. This followed a 4.7 million barrel build the prior week
at the NYMEX delivery point for physical barrels.

Total commercial stockpiles of crude oil inventories in the
United States decreased by 3.1 million barrels to 318.2 million
in the week to December 19, compared with average analysts'
estimates for a build of 400,0000 barrels.
snip
------------------http://www.reuters.com/article/businessNews/idUSTRE4BN3EV20081224?fee...

If you want low oil prices, one does not elect an oil man as
President.

TMT


That's ridiculous! Bush has absolutely NOTHING to do with oil prices.
Those prices are controlled by the producers and the speculators. I
suppose that you will expect Yomma Obama to drop the proce of oil
immediately upon inauguration, using your reasoning. Carter wasn't an
oil man and the prices went up under his administration, and Bush
wasn't even IN politics at the time.

Jim