On Aug 24, 2006, at 3:10 PM, raghu wrote:
The funny thing about this argument is that it assumes the *existence* and availability of such "storage facilities".
The EIA releases those numbers for the US every week <http:// tonto.eia.doe.gov/dnav/pet/pet_sum_sndw_dcus_nus_w.htm>. There are over 1.7 billion barrels of crude & products in inventory. The markets take these weekly releases seriously. So it's not magical neoclassical assumptions. Doug
