RE: Oil info web site

From: Glenn Morton <>
Date: Thu May 20 2004 - 22:18:17 EDT

A miracle! Finally an economist who doesn't think miracles will happen
in the laws of physics when the price of oil rises.

The reality is that the market is ignoring OPEC claims of more oil. The
market is betting against their capacity, that is why the price of oil
has reached 2 new highs this year. I saw today, forget where, that
Saudi oil production is up 400,000 bbl/day for April, and is expected to
rise another 200,000 bbl/day but that is all. But, that is less than the
UK loses in production in a year. If it is true, then this extra oil
will be a very short term solution. Only Kuwait has additional capacity
that I am aware of.

> -----Original Message-----
> From:
> [] On Behalf Of
> Sent: Thursday, May 20, 2004 1:03 PM
> To:
> Subject: Oil info web site
> I recently came across a web site: that has
> quite a bit of information and analysis on oil supplies. It
> pretty much agrees with what Glenn has been saying.
> The proprietor of the web site,
> James L. Williams
> WTRG Economics
> P.O. Box 250
> London, Arkansas 72847
> was interviewed on the Paul W. Smith show on WJR (Detroit)
> the other day. Some of the material on the site is available
> on a paid subscription basis, but there is quite a bit of
> free information as well.
Received on Thu May 20 22:18:54 2004

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