Any news on the oil front (along the lines of the DD1Light stuff)? It seems to me this is the biggest of the outstanding issues.

-- Doug Fletcher (dflet@succeed.net), January 04, 2000

Answers

The oil is running fine, Doug, and will most likely continue to do so.

I won't mention any names, but there have been two posters on this forum whose intention was not to inform, but to frighten. You figure who.

dave

-- dave (wootendave@hotmail.com), January 04, 2000.

From those folks at the OPIS list... http://opisnet.com [from maillist, not online]

***CASH MARKETS SEE STRONG DEMAND IN RESPONSE TO REFINERY WOES The Gulf and New York spot markets saw plenty of buying demand on just about everything on the fuel menu today with two refinery problems impacting the Gulf arena. First, a Sunday power outage knocked out operations at Motiva's 220,000 b/d Norco, La. refinery. Spot sources tell OPIS that full production won't be realized for about ten days even though a Shell source said that restart efforts would be completed by the weekend. Also, Gulf sources say that Coastal has a FCC problem at its 103,000 b/d Corpus Christi refinery and these events had refiner buying cropping that knocked the gasoline discount in the Gulf down to 4.6cts off the Feb. print. In the Midwest, spot sources say that Equilon's 310,000 b/d Wood River, Ill. refinery has been reduced to 100,000 b/d output due to an unspecified crude unit problem. That news sparked robust buying in the Chicago market where 1st cycle gasoline went to 2cts over the NYMEX. The problems in the Gulf had a ripple effect in NY where less bbl are coming up the Colonial pipeline and sent both jet and kero prices soaring. Traders say that jet was sold in the Harbor at 10.3cts over the futures print, while kero sold at 12.5cts over. There are reports that cargoes from the St. Croix refiner co-owned by PDVSA and Hess were being diverted from the Gulf and are now heading for Europe, and that's creating another product squeeze along the same lines seen last week. ----------------------

-- kc (kc@yahoo.com), January 04, 2000.

Hi KC, Thank you for the post. I have been trying to locate some news regarding your post. I went to the website and they have a newsletter but I think it will take awhile. If you have ANY news regarding refinery failures relating to oil would you please post again. ANY news would be valuable. Thank you and best wishes

-- (dorado@doco.com), January 04, 2000.

Dave, as one who stockpiled fuel in anticipation of major oil related disruptions, I can only say, thank God there are no apparent major problems. I can and will use all the fuel, but major petroleum stoppages would have been devastating to all of us and alot of innocent people. Let's all hope RC was dead wrong as apparently he was.

-- doktorbob (doktorbob@mindspring.com), January 04, 2000.

I stockpiled fuel as well. Whatever shall I do? In my fury, I shall burn these preps.

-- Me (me@me.me), January 04, 2000.

kc, thanks for a cool headed post.

-- Hokie (Hokie_@hotmail.com), January 04, 2000.

And were the oil compnies wrong in their own SEC forecasts...?

-- John Whitley (jwhitley@inforamp.net), January 04, 2000.

John, You're as bad as RC. Might doesn't mean Will....

-- Downstreamer (downstream@bigfoot.com), January 06, 2000.