id sid tid token lemma pos mdp.39015011012013 1 1 5 5 CD mdp.39015011012013 1 2 period period NN mdp.39015011012013 1 3 , , , mdp.39015011012013 1 4 the the DT mdp.39015011012013 1 5 trade trade NN mdp.39015011012013 1 6 press press NN mdp.39015011012013 1 7 reports report VBZ mdp.39015011012013 1 8 that that IN mdp.39015011012013 1 9 spot spot VBP mdp.39015011012013 1 10 purchase purchase NN mdp.39015011012013 1 11 and and CC mdp.39015011012013 1 12 sale sale NN mdp.39015011012013 1 13 transac- transac- NN mdp.39015011012013 1 14 tions tion NNS mdp.39015011012013 1 15 in in IN mdp.39015011012013 1 16 major major JJ mdp.39015011012013 1 17 export export NN mdp.39015011012013 1 18 market market NN mdp.39015011012013 1 19 centers center NNS mdp.39015011012013 1 20 , , , mdp.39015011012013 1 21 such such JJ mdp.39015011012013 1 22 as as IN mdp.39015011012013 1 23 Rotterdam Rotterdam NNP mdp.39015011012013 1 24 , , , mdp.39015011012013 1 25 the the DT mdp.39015011012013 1 26 Medi- Medi- NNP mdp.39015011012013 1 27 terranean terranean NNP mdp.39015011012013 1 28 , , , mdp.39015011012013 1 29 and and CC mdp.39015011012013 1 30 Singapore Singapore NNP mdp.39015011012013 1 31 , , , mdp.39015011012013 1 32 have have VBP mdp.39015011012013 1 33 already already RB mdp.39015011012013 1 34 reflected reflect VBN mdp.39015011012013 1 35 some some DT mdp.39015011012013 1 36 signs sign NNS mdp.39015011012013 1 37 of of IN mdp.39015011012013 1 38 buying buy VBG mdp.39015011012013 1 39 pressure pressure NN mdp.39015011012013 1 40 in in IN mdp.39015011012013 1 41 recent recent JJ mdp.39015011012013 1 42 days day NNS mdp.39015011012013 1 43 . . . mdp.39015011012013 2 1 Although although IN mdp.39015011012013 2 2 the the DT mdp.39015011012013 2 3 volumes volume NNS mdp.39015011012013 2 4 transacted transact VBN mdp.39015011012013 2 5 in in IN mdp.39015011012013 2 6 these these DT mdp.39015011012013 2 7 so so RB mdp.39015011012013 2 8 - - HYPH mdp.39015011012013 2 9 called call VBN mdp.39015011012013 2 10 spot spot NN mdp.39015011012013 2 11 market market NN mdp.39015011012013 2 12 centers center NNS mdp.39015011012013 2 13 are be VBP mdp.39015011012013 2 14 relatively relatively RB mdp.39015011012013 2 15 small small JJ mdp.39015011012013 2 16 compared compare VBN mdp.39015011012013 2 17 to to IN mdp.39015011012013 2 18 total total JJ mdp.39015011012013 2 19 free free JJ mdp.39015011012013 2 20 world world NN mdp.39015011012013 2 21 oil oil NN mdp.39015011012013 2 22 con- con- NN mdp.39015011012013 2 23 sumption sumption NN mdp.39015011012013 2 24 , , , mdp.39015011012013 2 25 the the DT mdp.39015011012013 2 26 prices price NNS mdp.39015011012013 2 27 are be VBP mdp.39015011012013 2 28 widely widely RB mdp.39015011012013 2 29 publicized publicize VBN mdp.39015011012013 2 30 in in IN mdp.39015011012013 2 31 the the DT mdp.39015011012013 2 32 trade trade NN mdp.39015011012013 2 33 and and CC mdp.39015011012013 2 34 general general JJ mdp.39015011012013 2 35 press press NN mdp.39015011012013 2 36 and and CC mdp.39015011012013 2 37 the the DT mdp.39015011012013 2 38 escalation escalation NN mdp.39015011012013 2 39 in in IN mdp.39015011012013 2 40 these these DT mdp.39015011012013 2 41 prices price NNS mdp.39015011012013 2 42 in in IN mdp.39015011012013 2 43 early early JJ mdp.39015011012013 2 44 1979 1979 CD mdp.39015011012013 2 45 following follow VBG mdp.39015011012013 2 46 the the DT mdp.39015011012013 2 47 Iranian iranian JJ mdp.39015011012013 2 48 export export NN mdp.39015011012013 2 49 suspension suspension NN mdp.39015011012013 2 50 was be VBD mdp.39015011012013 2 51 used use VBN mdp.39015011012013 2 52 by by IN mdp.39015011012013 2 53 OPEC OPEC NNP mdp.39015011012013 2 54 as as IN mdp.39015011012013 2 55 a a DT mdp.39015011012013 2 56 key key JJ mdp.39015011012013 2 57 reason reason NN mdp.39015011012013 2 58 for for IN mdp.39015011012013 2 59 their -PRON- PRP$ mdp.39015011012013 2 60 increases increase NNS mdp.39015011012013 2 61 in in IN mdp.39015011012013 2 62 official official JJ mdp.39015011012013 2 63 OPEC OPEC NNP mdp.39015011012013 2 64 government government NN mdp.39015011012013 2 65 selling sell VBG mdp.39015011012013 2 66 prices price NNS mdp.39015011012013 2 67 for for IN mdp.39015011012013 2 68 crude crude NN mdp.39015011012013 2 69 during during IN mdp.39015011012013 2 70 1979 1979 CD mdp.39015011012013 2 71 and and CC mdp.39015011012013 2 72 early early JJ mdp.39015011012013 2 73 1980 1980 CD mdp.39015011012013 2 74 . . . mdp.39015011012013 3 1 Hopefully hopefully RB mdp.39015011012013 3 2 , , , mdp.39015011012013 3 3 the the DT mdp.39015011012013 3 4 current current JJ mdp.39015011012013 3 5 high high JJ mdp.39015011012013 3 6 level level NN mdp.39015011012013 3 7 of of IN mdp.39015011012013 3 8 worldwide worldwide JJ mdp.39015011012013 3 9 inventories inventory NNS mdp.39015011012013 3 10 — — : mdp.39015011012013 3 11 which which WDT mdp.39015011012013 3 12 was be VBD mdp.39015011012013 3 13 not not RB mdp.39015011012013 3 14 the the DT mdp.39015011012013 3 15 situation situation NN mdp.39015011012013 3 16 in in IN mdp.39015011012013 3 17 early early JJ mdp.39015011012013 3 18 1979—will 1979—will CD mdp.39015011012013 3 19 mitigate mitigate VB mdp.39015011012013 3 20 against against IN mdp.39015011012013 3 21 escalating escalate VBG mdp.39015011012013 3 22 spot spot NN mdp.39015011012013 3 23 crude crude NN mdp.39015011012013 3 24 and and CC mdp.39015011012013 3 25 product product NN mdp.39015011012013 3 26 prices price NNS mdp.39015011012013 3 27 if if IN mdp.39015011012013 3 28 the the DT mdp.39015011012013 3 29 current current JJ mdp.39015011012013 3 30 crisis crisis NN mdp.39015011012013 3 31 does do VBZ mdp.39015011012013 3 32 not not RB mdp.39015011012013 3 33 extend extend VB mdp.39015011012013 3 34 too too RB mdp.39015011012013 3 35 long long RB mdp.39015011012013 3 36 . . . mdp.39015011012013 4 1 Obviously obviously RB mdp.39015011012013 4 2 , , , mdp.39015011012013 4 3 the the DT mdp.39015011012013 4 4 willingness willingness NN mdp.39015011012013 4 5 of of IN mdp.39015011012013 4 6 other other JJ mdp.39015011012013 4 7 OPEC OPEC NNP mdp.39015011012013 4 8 producers producer NNS mdp.39015011012013 4 9 to to TO mdp.39015011012013 4 10 increase increase VB mdp.39015011012013 4 11 current current JJ mdp.39015011012013 4 12 production production NN mdp.39015011012013 4 13 levels level NNS mdp.39015011012013 4 14 and and CC mdp.39015011012013 4 15 the the DT mdp.39015011012013 4 16 willingness willingness NN mdp.39015011012013 4 17 of of IN mdp.39015011012013 4 18 oil oil NN mdp.39015011012013 4 19 consumers consumer NNS mdp.39015011012013 4 20 worldwide worldwide RB mdp.39015011012013 4 21 to to TO mdp.39015011012013 4 22 use use VB mdp.39015011012013 4 23 oil oil NN mdp.39015011012013 4 24 even even RB mdp.39015011012013 4 25 more more RBR mdp.39015011012013 4 26 conservatively conservatively RB mdp.39015011012013 4 27 than than IN mdp.39015011012013 4 28 they -PRON- PRP mdp.39015011012013 4 29 have have VBP mdp.39015011012013 4 30 in in IN mdp.39015011012013 4 31 recent recent JJ mdp.39015011012013 4 32 months month NNS mdp.39015011012013 4 33 are be VBP mdp.39015011012013 4 34 other other JJ mdp.39015011012013 4 35 key key JJ mdp.39015011012013 4 36 factors factor NNS mdp.39015011012013 4 37 . . . mdp.39015011012013 5 1 Now now RB mdp.39015011012013 5 2 I -PRON- PRP mdp.39015011012013 5 3 would would MD mdp.39015011012013 5 4 like like VB mdp.39015011012013 5 5 to to TO mdp.39015011012013 5 6 comment comment VB mdp.39015011012013 5 7 on on IN mdp.39015011012013 5 8 the the DT mdp.39015011012013 5 9 U.S. U.S. NNP mdp.39015011012013 5 10 situation situation NN mdp.39015011012013 5 11 . . . mdp.39015011012013 6 1 Total total JJ mdp.39015011012013 6 2 oil oil NN mdp.39015011012013 6 3 demand demand NN mdp.39015011012013 6 4 has have VBZ mdp.39015011012013 6 5 averaged average VBN mdp.39015011012013 6 6 17 17 CD mdp.39015011012013 6 7 million million CD mdp.39015011012013 6 8 barrels barrel NNS mdp.39015011012013 6 9 per per IN mdp.39015011012013 6 10 day day NN mdp.39015011012013 6 11 over over IN mdp.39015011012013 6 12 the the DT mdp.39015011012013 6 13 first first JJ mdp.39015011012013 6 14 8 8 CD mdp.39015011012013 6 15 months month NNS mdp.39015011012013 6 16 of of IN mdp.39015011012013 6 17 1980 1980 CD mdp.39015011012013 6 18 , , , mdp.39015011012013 6 19 with with IN mdp.39015011012013 6 20 imports import NNS mdp.39015011012013 6 21 averaging average VBG mdp.39015011012013 6 22 6.9 6.9 CD mdp.39015011012013 6 23 million million CD mdp.39015011012013 6 24 barrels barrel NNS mdp.39015011012013 6 25 per per IN mdp.39015011012013 6 26 day day NN mdp.39015011012013 6 27 . . . mdp.39015011012013 7 1 Of of RB mdp.39015011012013 7 2 course course RB mdp.39015011012013 7 3 , , , mdp.39015011012013 7 4 the the DT mdp.39015011012013 7 5 United United NNP mdp.39015011012013 7 6 States States NNP mdp.39015011012013 7 7 has have VBZ mdp.39015011012013 7 8 not not RB mdp.39015011012013 7 9 imported import VBN mdp.39015011012013 7 10 any any DT mdp.39015011012013 7 11 oil oil NN mdp.39015011012013 7 12 from from IN mdp.39015011012013 7 13 Iran Iran NNP mdp.39015011012013 7 14 since since IN mdp.39015011012013 7 15 last last JJ mdp.39015011012013 7 16 November November NNP mdp.39015011012013 7 17 and and CC mdp.39015011012013 7 18 recent recent JJ mdp.39015011012013 7 19 imports import NNS mdp.39015011012013 7 20 of of IN mdp.39015011012013 7 21 Iraqi iraqi JJ mdp.39015011012013 7 22 crude crude NN mdp.39015011012013 7 23 into into IN mdp.39015011012013 7 24 the the DT mdp.39015011012013 7 25 United United NNP mdp.39015011012013 7 26 States States NNP mdp.39015011012013 7 27 would would MD mdp.39015011012013 7 28 appear appear VB mdp.39015011012013 7 29 to to TO mdp.39015011012013 7 30 be be VB mdp.39015011012013 7 31 less less JJR mdp.39015011012013 7 32 than than IN mdp.39015011012013 7 33 50,000 50,000 CD mdp.39015011012013 7 34 barrels barrel NNS mdp.39015011012013 7 35 a a DT mdp.39015011012013 7 36 day day NN mdp.39015011012013 7 37 . . . mdp.39015011012013 8 1 Given give VBN mdp.39015011012013 8 2 these these DT mdp.39015011012013 8 3 relatively relatively RB mdp.39015011012013 8 4 low low JJ mdp.39015011012013 8 5 imports import NNS mdp.39015011012013 8 6 from from IN mdp.39015011012013 8 7 Iraq Iraq NNP mdp.39015011012013 8 8 , , , mdp.39015011012013 8 9 one one PRP mdp.39015011012013 8 10 would would MD mdp.39015011012013 8 11 not not RB mdp.39015011012013 8 12 expect expect VB mdp.39015011012013 8 13 any any DT mdp.39015011012013 8 14 dramatic dramatic JJ mdp.39015011012013 8 15 or or CC mdp.39015011012013 8 16 immediate immediate JJ mdp.39015011012013 8 17 market market NN mdp.39015011012013 8 18 changes change NNS mdp.39015011012013 8 19 on on IN mdp.39015011012013 8 20 what what WP mdp.39015011012013 8 21 has have VBZ mdp.39015011012013 8 22 been be VBN mdp.39015011012013 8 23 a a DT mdp.39015011012013 8 24 relatively relatively RB mdp.39015011012013 8 25 comfortable comfortable JJ mdp.39015011012013 8 26 supply supply NN mdp.39015011012013 8 27 situation situation NN mdp.39015011012013 8 28 . . . mdp.39015011012013 9 1 U.S. U.S. NNP mdp.39015011012013 9 2 crude crude NN mdp.39015011012013 9 3 and and CC mdp.39015011012013 9 4 prod- prod- JJ mdp.39015011012013 9 5 uct uct NN mdp.39015011012013 9 6 inventories inventory NNS mdp.39015011012013 9 7 are be VBP mdp.39015011012013 9 8 in in IN mdp.39015011012013 9 9 relatively relatively RB mdp.39015011012013 9 10 good good JJ mdp.39015011012013 9 11 shape shape NN mdp.39015011012013 9 12 , , , mdp.39015011012013 9 13 with with IN mdp.39015011012013 9 14 some some DT mdp.39015011012013 9 15 175 175 CD mdp.39015011012013 9 16 million million CD mdp.39015011012013 9 17 barrels barrel NNS mdp.39015011012013 9 18 representing represent VBG mdp.39015011012013 9 19 volumes volume NNS mdp.39015011012013 9 20 above above IN mdp.39015011012013 9 21 historically historically RB mdp.39015011012013 9 22 normal normal JJ mdp.39015011012013 9 23 levels level NNS mdp.39015011012013 9 24 at at IN mdp.39015011012013 9 25 this this DT mdp.39015011012013 9 26 time time NN mdp.39015011012013 9 27 of of IN mdp.39015011012013 9 28 the the DT mdp.39015011012013 9 29 year year NN mdp.39015011012013 9 30 . . . mdp.39015011012013 10 1 In in IN mdp.39015011012013 10 2 addition addition NN mdp.39015011012013 10 3 , , , mdp.39015011012013 10 4 there there EX mdp.39015011012013 10 5 is be VBZ mdp.39015011012013 10 6 the the DT mdp.39015011012013 10 7 Government Government NNP mdp.39015011012013 10 8 strate- strate- JJ mdp.39015011012013 10 9 gic gic NNP mdp.39015011012013 10 10 inventory inventory NN mdp.39015011012013 10 11 cushion cushion NN mdp.39015011012013 10 12 of of IN mdp.39015011012013 10 13 90 90 CD mdp.39015011012013 10 14 million million CD mdp.39015011012013 10 15 barrels barrel NNS mdp.39015011012013 10 16 . . . mdp.39015011012013 11 1 As as IN mdp.39015011012013 11 2 a a DT mdp.39015011012013 11 3 final final JJ mdp.39015011012013 11 4 , , , mdp.39015011012013 11 5 but but CC mdp.39015011012013 11 6 to to IN mdp.39015011012013 11 7 me -PRON- PRP mdp.39015011012013 11 8 a a DT mdp.39015011012013 11 9 very very RB mdp.39015011012013 11 10 obvious obvious JJ mdp.39015011012013 11 11 and and CC mdp.39015011012013 11 12 critically critically RB mdp.39015011012013 11 13 important important JJ mdp.39015011012013 11 14 point point NN mdp.39015011012013 11 15 , , , mdp.39015011012013 11 16 the the DT mdp.39015011012013 11 17 oil oil NN mdp.39015011012013 11 18 importing import VBG mdp.39015011012013 11 19 nations nation NNS mdp.39015011012013 11 20 of of IN mdp.39015011012013 11 21 the the DT mdp.39015011012013 11 22 world world NN mdp.39015011012013 11 23 , , , mdp.39015011012013 11 24 including include VBG mdp.39015011012013 11 25 of of IN mdp.39015011012013 11 26 course course NN mdp.39015011012013 11 27 the the DT mdp.39015011012013 11 28 United United NNP mdp.39015011012013 11 29 States States NNP mdp.39015011012013 11 30 , , , mdp.39015011012013 11 31 are be VBP mdp.39015011012013 11 32 and and CC mdp.39015011012013 11 33 will will MD mdp.39015011012013 11 34 continue continue VB mdp.39015011012013 11 35 to to TO mdp.39015011012013 11 36 be be VB mdp.39015011012013 11 37 for for IN mdp.39015011012013 11 38 many many JJ mdp.39015011012013 11 39 years year NNS mdp.39015011012013 11 40 vulnerable vulnerable JJ mdp.39015011012013 11 41 to to IN mdp.39015011012013 11 42 political political JJ mdp.39015011012013 11 43 uncertainty uncertainty NN mdp.39015011012013 11 44 and and CC mdp.39015011012013 11 45 possible possible JJ mdp.39015011012013 11 46 sudden sudden JJ mdp.39015011012013 11 47 supply supply NN mdp.39015011012013 11 48 dis- dis- IN mdp.39015011012013 11 49 ruptions ruption NNS mdp.39015011012013 11 50 in in IN mdp.39015011012013 11 51 the the DT mdp.39015011012013 11 52 Middle Middle NNP mdp.39015011012013 11 53 East East NNP mdp.39015011012013 11 54 oil oil NN mdp.39015011012013 11 55 exporting export VBG mdp.39015011012013 11 56 countries country NNS mdp.39015011012013 11 57 . . . mdp.39015011012013 12 1 Thus thus RB mdp.39015011012013 12 2 , , , mdp.39015011012013 12 3 the the DT mdp.39015011012013 12 4 need need NN mdp.39015011012013 12 5 continues continue VBZ mdp.39015011012013 12 6 even even RB mdp.39015011012013 12 7 greater great JJR mdp.39015011012013 12 8 than than IN mdp.39015011012013 12 9 before before RB mdp.39015011012013 12 10 to to TO mdp.39015011012013 12 11 find find VB mdp.39015011012013 12 12 ways way NNS mdp.39015011012013 12 13 to to TO mdp.39015011012013 12 14 use use VB mdp.39015011012013 12 15 oil oil NN mdp.39015011012013 12 16 more more RBR mdp.39015011012013 12 17 conservatively conservatively RB mdp.39015011012013 12 18 and and CC mdp.39015011012013 12 19 to to TO mdp.39015011012013 12 20 concurrently concurrently RB mdp.39015011012013 12 21 accelerate accelerate VB mdp.39015011012013 12 22 efforts effort NNS mdp.39015011012013 12 23 to to TO mdp.39015011012013 12 24 develop develop VB mdp.39015011012013 12 25 major major JJ mdp.39015011012013 12 26 new new JJ mdp.39015011012013 12 27 sources source NNS mdp.39015011012013 12 28 of of IN mdp.39015011012013 12 29 domestic domestic JJ mdp.39015011012013 12 30 energy energy NN mdp.39015011012013 12 31 supplies supply NNS mdp.39015011012013 12 32 . . . mdp.39015011012013 13 1 h h NNP mdp.39015011012013 13 2 Thank thank VBP mdp.39015011012013 13 3 you -PRON- PRP mdp.39015011012013 13 4 . . . mdp.39015011012013 14 1 Now now RB mdp.39015011012013 14 2 I -PRON- PRP mdp.39015011012013 14 3 will will MD mdp.39015011012013 14 4 try try VB mdp.39015011012013 14 5 to to TO mdp.39015011012013 14 6 answer answer VB mdp.39015011012013 14 7 any any DT mdp.39015011012013 14 8 questions question NNS mdp.39015011012013 14 9 you -PRON- PRP mdp.39015011012013 14 10 may may MD mdp.39015011012013 14 11 ave ave NNP mdp.39015011012013 14 12 . . . mdp.39015011012013 14 13 Mr. Mr. NNP mdp.39015011012013 14 14 Moffett Moffett NNP mdp.39015011012013 14 15 . . . mdp.39015011012013 15 1 Mr. Mr. NNP mdp.39015011012013 15 2 Sachs Sachs NNP mdp.39015011012013 15 3 , , , mdp.39015011012013 15 4 the the DT mdp.39015011012013 15 5 Chair Chair NNP mdp.39015011012013 15 6 wishes wish VBZ mdp.39015011012013 15 7 to to TO mdp.39015011012013 15 8 thank thank VB mdp.39015011012013 15 9 you -PRON- PRP mdp.39015011012013 15 10 on on IN mdp.39015011012013 15 11 behalf behalf NN mdp.39015011012013 15 12 of of IN mdp.39015011012013 15 13 the the DT mdp.39015011012013 15 14 subcommittee subcommittee NN mdp.39015011012013 15 15 for for IN mdp.39015011012013 15 16 an an DT mdp.39015011012013 15 17 excellent excellent JJ mdp.39015011012013 15 18 and and CC mdp.39015011012013 15 19 informative informative JJ mdp.39015011012013 15 20 state- state- NN mdp.39015011012013 15 21 ment ment NN mdp.39015011012013 15 22 , , , mdp.39015011012013 15 23 particularly particularly RB mdp.39015011012013 15 24 in in IN mdp.39015011012013 15 25 view view NN mdp.39015011012013 15 26 of of IN mdp.39015011012013 15 27 the the DT mdp.39015011012013 15 28 short short JJ mdp.39015011012013 15 29 notice notice NN mdp.39015011012013 15 30 which which WDT mdp.39015011012013 15 31 you -PRON- PRP mdp.39015011012013 15 32 had have VBD mdp.39015011012013 15 33 . . . mdp.39015011012013 16 1 We -PRON- PRP mdp.39015011012013 16 2 are be VBP mdp.39015011012013 16 3 most most RBS mdp.39015011012013 16 4 appreciative appreciative JJ mdp.39015011012013 16 5 . . . mdp.39015011012013 17 1 At at IN mdp.39015011012013 17 2 this this DT mdp.39015011012013 17 3 time time NN mdp.39015011012013 17 4 , , , mdp.39015011012013 17 5 as as IN mdp.39015011012013 17 6 is be VBZ mdp.39015011012013 17 7 our -PRON- PRP$ mdp.39015011012013 17 8 practice practice NN mdp.39015011012013 17 9 , , , mdp.39015011012013 17 10 the the DT mdp.39015011012013 17 11 Chair Chair NNP mdp.39015011012013 17 12 will will MD mdp.39015011012013 17 13 recognize recognize VB mdp.39015011012013 17 14 members member NNS mdp.39015011012013 17 15 for for IN mdp.39015011012013 17 16 questioning question VBG mdp.39015011012013 17 17 under under IN mdp.39015011012013 17 18 the the DT mdp.39015011012013 17 19 5-minute 5-minute CD mdp.39015011012013 17 20 rule rule NN mdp.39015011012013 17 21 . . . mdp.39015011012013 18 1 The the DT mdp.39015011012013 18 2 Chair Chair NNP mdp.39015011012013 18 3 reminds remind VBZ mdp.39015011012013 18 4 mem- mem- RB mdp.39015011012013 18 5 bers ber NNS mdp.39015011012013 18 6 that that IN mdp.39015011012013 18 7 we -PRON- PRP mdp.39015011012013 18 8 do do VBP mdp.39015011012013 18 9 have have VB mdp.39015011012013 18 10 two two CD mdp.39015011012013 18 11 other other JJ mdp.39015011012013 18 12 witnesses witness NNS mdp.39015011012013 18 13 who who WP mdp.39015011012013 18 14 will will MD mdp.39015011012013 18 15 speak speak VB mdp.39015011012013 18 16 on on IN mdp.39015011012013 18 17 rough- rough- NN mdp.39015011012013 18 18 ly ly XX mdp.39015011012013 18 19 on on IN mdp.39015011012013 18 20 the the DT mdp.39015011012013 18 21 same same JJ mdp.39015011012013 18 22 topics topic NNS mdp.39015011012013 18 23 . . . mdp.39015011012013 19 1 Let let VB mdp.39015011012013 19 2 us -PRON- PRP mdp.39015011012013 19 3 save save VB mdp.39015011012013 19 4 some some DT mdp.39015011012013 19 5 questions question NNS mdp.39015011012013 19 6 for for IN mdp.39015011012013 19 7 them -PRON- PRP mdp.39015011012013 19 8 and and CC mdp.39015011012013 19 9 not not RB mdp.39015011012013 19 10 have have VB mdp.39015011012013 19 11 Mr. Mr. NNP mdp.39015011012013 19 12 Sachs Sachs NNP mdp.39015011012013 19 13 bear bear VB mdp.39015011012013 19 14 the the DT mdp.39015011012013 19 15 brunt brunt NN mdp.39015011012013 19 16 of of IN mdp.39015011012013 19 17 all all DT mdp.39015011012013 19 18 of of IN mdp.39015011012013 19 19 the the DT mdp.39015011012013 19 20 questioning questioning NN mdp.39015011012013 19 21 . . . mdp.39015011012013 20 1 At at IN mdp.39015011012013 20 2 this this DT mdp.39015011012013 20 3 time time NN mdp.39015011012013 20 4 , , , mdp.39015011012013 20 5 the the DT mdp.39015011012013 20 6 Chair Chair NNP mdp.39015011012013 20 7 recognizes recognize VBZ mdp.39015011012013 20 8 the the DT mdp.39015011012013 20 9 gentleman gentleman NN mdp.39015011012013 20 10 from from IN mdp.39015011012013 20 11 Massachu- Massachu- NNP mdp.39015011012013 20 12 setts sett NNS mdp.39015011012013 20 13 , , , mdp.39015011012013 20 14 Mr. Mr. NNP mdp.39015011012013 20 15 Drinan Drinan NNP mdp.39015011012013 20 16 , , , mdp.39015011012013 20 17 for for IN mdp.39015011012013 20 18 5 5 CD mdp.39015011012013 20 19 minutes minute NNS mdp.39015011012013 20 20 . . . mdp.39015011012013 21 1 Mr. Mr. NNP mdp.39015011012013 21 2 DRINAN DRINAN NNP mdp.39015011012013 21 3 . . . mdp.39015011012013 22 1 Thank thank VBP mdp.39015011012013 22 2 you -PRON- PRP mdp.39015011012013 22 3 , , , mdp.39015011012013 22 4 Mr. Mr. NNP mdp.39015011012013 22 5 Chairman Chairman NNP mdp.39015011012013 22 6 . . . mdp.39015011012013 23 1 70 70 CD mdp.39015011012013 23 2 - - SYM mdp.39015011012013 23 3 004 004 CD mdp.39015011012013 23 4 O o CD mdp.39015011012013 23 5 - - HYPH mdp.39015011012013 23 6 81 81 CD mdp.39015011012013 23 7 - - SYM mdp.39015011012013 23 8 2 2 CD mdp.39015011012013 23 9 7 7 CD mdp.39015011012013 23 10 there there EX mdp.39015011012013 23 11 are be VBP mdp.39015011012013 23 12 any any DT mdp.39015011012013 23 13 distinct distinct JJ mdp.39015011012013 23 14 trends trend NNS mdp.39015011012013 23 15 appearing appear VBG mdp.39015011012013 23 16 right right RB mdp.39015011012013 23 17 now now RB mdp.39015011012013 23 18 . . . mdp.39015011012013 24 1 There there EX mdp.39015011012013 24 2 have have VBP mdp.39015011012013 24 3 been be VBN mdp.39015011012013 24 4 signs sign NNS mdp.39015011012013 24 5 of of IN mdp.39015011012013 24 6 buying buy VBG mdp.39015011012013 24 7 pressure pressure NN mdp.39015011012013 24 8 , , , mdp.39015011012013 24 9 but but CC mdp.39015011012013 24 10 on on IN mdp.39015011012013 24 11 a a DT mdp.39015011012013 24 12 day day NN mdp.39015011012013 24 13 - - HYPH mdp.39015011012013 24 14 to to IN mdp.39015011012013 24 15 - - HYPH mdp.39015011012013 24 16 day day NN mdp.39015011012013 24 17 basis basis NN mdp.39015011012013 24 18 this this DT mdp.39015011012013 24 19 market market NN mdp.39015011012013 24 20 has have VBZ mdp.39015011012013 24 21 actually actually RB mdp.39015011012013 24 22 bounced bounce VBN mdp.39015011012013 24 23 back back RB mdp.39015011012013 24 24 and and CC mdp.39015011012013 24 25 forth forth RB mdp.39015011012013 24 26 . . . mdp.39015011012013 25 1 That that DT mdp.39015011012013 25 2 is be VBZ mdp.39015011012013 25 3 a a DT mdp.39015011012013 25 4 distinctly distinctly RB mdp.39015011012013 25 5 different different JJ mdp.39015011012013 25 6 pattern pattern NN mdp.39015011012013 25 7 than than IN mdp.39015011012013 25 8 we -PRON- PRP mdp.39015011012013 25 9 saw see VBD mdp.39015011012013 25 10 evolve evolve VB mdp.39015011012013 25 11 following follow VBG mdp.39015011012013 25 12 the the DT mdp.39015011012013 25 13 Iranian iranian JJ mdp.39015011012013 25 14 problem problem NN mdp.39015011012013 25 15 in in IN mdp.39015011012013 25 16 early early JJ mdp.39015011012013 25 17 1979 1979 CD mdp.39015011012013 25 18 . . . mdp.39015011012013 26 1 Mr. Mr. NNP mdp.39015011012013 26 2 DRINAN DRINAN NNP mdp.39015011012013 26 3 . . . mdp.39015011012013 27 1 Thank thank VBP mdp.39015011012013 27 2 you -PRON- PRP mdp.39015011012013 27 3 very very RB mdp.39015011012013 27 4 much much RB mdp.39015011012013 27 5 , , , mdp.39015011012013 27 6 Mr. Mr. NNP mdp.39015011012013 27 7 Sachs Sachs NNP mdp.39015011012013 27 8 . . . mdp.39015011012013 28 1 I -PRON- PRP mdp.39015011012013 28 2 yield yield VBP mdp.39015011012013 28 3 back back RP mdp.39015011012013 28 4 the the DT mdp.39015011012013 28 5 balance balance NN mdp.39015011012013 28 6 of of IN mdp.39015011012013 28 7 my -PRON- PRP$ mdp.39015011012013 28 8 time time NN mdp.39015011012013 28 9 . . . mdp.39015011012013 29 1 Mr. Mr. NNP mdp.39015011012013 29 2 Moffett Moffett NNP mdp.39015011012013 29 3 . . . mdp.39015011012013 30 1 The the DT mdp.39015011012013 30 2 Chair Chair NNP mdp.39015011012013 30 3 now now RB mdp.39015011012013 30 4 recognizes recognize VBZ mdp.39015011012013 30 5 the the DT mdp.39015011012013 30 6 gentleman gentleman NN mdp.39015011012013 30 7 from from IN mdp.39015011012013 30 8 Minnesota Minnesota NNP mdp.39015011012013 30 9 , , , mdp.39015011012013 30 10 Mr. Mr. NNP mdp.39015011012013 30 11 Stangeland Stangeland NNP mdp.39015011012013 30 12 , , , mdp.39015011012013 30 13 for for IN mdp.39015011012013 30 14 5 5 CD mdp.39015011012013 30 15 minutes minute NNS mdp.39015011012013 30 16 . . . mdp.39015011012013 31 1 Mr. Mr. NNP mdp.39015011012013 31 2 STANGELAND STANGELAND NNP mdp.39015011012013 31 3 . . . mdp.39015011012013 32 1 Thank thank VBP mdp.39015011012013 32 2 you -PRON- PRP mdp.39015011012013 32 3 , , , mdp.39015011012013 32 4 Mr. Mr. NNP mdp.39015011012013 32 5 Chairman Chairman NNP mdp.39015011012013 32 6 . . . mdp.39015011012013 33 1 Mr. Mr. NNP mdp.39015011012013 33 2 Sachs Sachs NNP mdp.39015011012013 33 3 , , , mdp.39015011012013 33 4 I -PRON- PRP mdp.39015011012013 33 5 do do VBP mdp.39015011012013 33 6 want want VB mdp.39015011012013 33 7 to to TO mdp.39015011012013 33 8 compliment compliment VB mdp.39015011012013 33 9 you -PRON- PRP mdp.39015011012013 33 10 on on IN mdp.39015011012013 33 11 a a DT mdp.39015011012013 33 12 very very RB mdp.39015011012013 33 13 good good JJ mdp.39015011012013 33 14 state- state- NN mdp.39015011012013 33 15 ment ment NN mdp.39015011012013 33 16 . . . mdp.39015011012013 34 1 You -PRON- PRP mdp.39015011012013 34 2 state state VBP mdp.39015011012013 34 3 that that IN mdp.39015011012013 34 4 in in IN mdp.39015011012013 34 5 the the DT mdp.39015011012013 34 6 reserves reserve NNS mdp.39015011012013 34 7 that that WDT mdp.39015011012013 34 8 are be VBP mdp.39015011012013 34 9 held hold VBN mdp.39015011012013 34 10 now now RB mdp.39015011012013 34 11 in in IN mdp.39015011012013 34 12 the the DT mdp.39015011012013 34 13 free free JJ mdp.39015011012013 34 14 world world NN mdp.39015011012013 34 15 we -PRON- PRP mdp.39015011012013 34 16 have have VBP mdp.39015011012013 34 17 4 4 CD mdp.39015011012013 34 18 months month NNS mdp.39015011012013 34 19 supply supply NN mdp.39015011012013 34 20 , , , mdp.39015011012013 34 21 and and CC mdp.39015011012013 34 22 then then RB mdp.39015011012013 34 23 we -PRON- PRP mdp.39015011012013 34 24 have have VBP mdp.39015011012013 34 25 another another DT mdp.39015011012013 34 26 4 4 CD mdp.39015011012013 34 27 months month NNS mdp.39015011012013 34 28 if if IN mdp.39015011012013 34 29 the the DT mdp.39015011012013 34 30 mandatory mandatory JJ mdp.39015011012013 34 31 strategic strategic JJ mdp.39015011012013 34 32 stocks stock NNS mdp.39015011012013 34 33 could could MD mdp.39015011012013 34 34 be be VB mdp.39015011012013 34 35 released release VBN mdp.39015011012013 34 36 . . . mdp.39015011012013 35 1 There- there- JJ mdp.39015011012013 35 2 fore fore NN mdp.39015011012013 35 3 , , , mdp.39015011012013 35 4 we -PRON- PRP mdp.39015011012013 35 5 have have VBP mdp.39015011012013 35 6 approximately approximately RB mdp.39015011012013 35 7 8 8 CD mdp.39015011012013 35 8 months month NNS mdp.39015011012013 35 9 ' ' POS mdp.39015011012013 35 10 of of IN mdp.39015011012013 35 11 reserves reserve NNS mdp.39015011012013 35 12 in in IN mdp.39015011012013 35 13 the the DT mdp.39015011012013 35 14 free free JJ mdp.39015011012013 35 15 world world NN mdp.39015011012013 35 16 . . . mdp.39015011012013 36 1 What what WP mdp.39015011012013 36 2 is be VBZ mdp.39015011012013 36 3 the the DT mdp.39015011012013 36 4 situation situation NN mdp.39015011012013 36 5 in in IN mdp.39015011012013 36 6 the the DT mdp.39015011012013 36 7 United United NNP mdp.39015011012013 36 8 States States NNP mdp.39015011012013 36 9 ? ? . mdp.39015011012013 37 1 How how WRB mdp.39015011012013 37 2 long long RB mdp.39015011012013 37 3 can can MD mdp.39015011012013 37 4 we -PRON- PRP mdp.39015011012013 37 5 operate operate VB mdp.39015011012013 37 6 if if IN mdp.39015011012013 37 7 the the DT mdp.39015011012013 37 8 Straits Straits NNPS mdp.39015011012013 37 9 of of IN mdp.39015011012013 37 10 Hormuz Hormuz NNP mdp.39015011012013 37 11 were be VBD mdp.39015011012013 37 12 closed close VBN mdp.39015011012013 37 13 ? ? . mdp.39015011012013 38 1 What what WDT mdp.39015011012013 38 2 kind kind NN mdp.39015011012013 38 3 of of IN mdp.39015011012013 38 4 a a DT mdp.39015011012013 38 5 reserve reserve NN mdp.39015011012013 38 6 do do VBP mdp.39015011012013 38 7 we -PRON- PRP mdp.39015011012013 38 8 have have VB mdp.39015011012013 38 9 ? ? . mdp.39015011012013 39 1 Mr. Mr. NNP mdp.39015011012013 39 2 SACHS SACHS NNP mdp.39015011012013 39 3 . . . mdp.39015011012013 40 1 I -PRON- PRP mdp.39015011012013 40 2 pointed point VBD mdp.39015011012013 40 3 out out RP mdp.39015011012013 40 4 in in IN mdp.39015011012013 40 5 my -PRON- PRP$ mdp.39015011012013 40 6 statement statement NN mdp.39015011012013 40 7 , , , mdp.39015011012013 40 8 I -PRON- PRP mdp.39015011012013 40 9 believe believe VBP mdp.39015011012013 40 10 , , , mdp.39015011012013 40 11 that that IN mdp.39015011012013 40 12 using use VBG mdp.39015011012013 40 13 the the DT mdp.39015011012013 40 14 same same JJ mdp.39015011012013 40 15 reference reference NN mdp.39015011012013 40 16 that that WDT mdp.39015011012013 40 17 I -PRON- PRP mdp.39015011012013 40 18 attempted attempt VBD mdp.39015011012013 40 19 to to TO mdp.39015011012013 40 20 use use VB mdp.39015011012013 40 21 for for IN mdp.39015011012013 40 22 the the DT mdp.39015011012013 40 23 worldwide worldwide JJ mdp.39015011012013 40 24 inventory inventory NN mdp.39015011012013 40 25 description description NN mdp.39015011012013 40 26 , , , mdp.39015011012013 40 27 it -PRON- PRP mdp.39015011012013 40 28 appears appear VBZ mdp.39015011012013 40 29 that that IN mdp.39015011012013 40 30 we -PRON- PRP mdp.39015011012013 40 31 have have VBP mdp.39015011012013 40 32 175 175 CD mdp.39015011012013 40 33 million million CD mdp.39015011012013 40 34 barrels barrel NNS mdp.39015011012013 40 35 of of IN mdp.39015011012013 40 36 crude crude NN mdp.39015011012013 40 37 and and CC mdp.39015011012013 40 38 products product NNS mdp.39015011012013 40 39 above above IN mdp.39015011012013 40 40 what what WP mdp.39015011012013 40 41 would would MD mdp.39015011012013 40 42 be be VB mdp.39015011012013 40 43 deemed deem VBN mdp.39015011012013 40 44 historically historically RB mdp.39015011012013 40 45 normal normal JJ mdp.39015011012013 40 46 for for IN mdp.39015011012013 40 47 this this DT mdp.39015011012013 40 48 time time NN mdp.39015011012013 40 49 of of IN mdp.39015011012013 40 50 year year NN mdp.39015011012013 40 51 . . . mdp.39015011012013 41 1 That that DT mdp.39015011012013 41 2 does do VBZ mdp.39015011012013 41 3 not not RB mdp.39015011012013 41 4 include include VB mdp.39015011012013 41 5 the the DT mdp.39015011012013 41 6 90 90 CD mdp.39015011012013 41 7 million million CD mdp.39015011012013 41 8 barrels barrel NNS mdp.39015011012013 41 9 that that WDT mdp.39015011012013 41 10 are be VBP mdp.39015011012013 41 11 in in IN mdp.39015011012013 41 12 the the DT mdp.39015011012013 41 13 SPR SPR NNP mdp.39015011012013 41 14 reserves reserve NNS mdp.39015011012013 41 15 . . . mdp.39015011012013 42 1 I -PRON- PRP mdp.39015011012013 42 2 would would MD mdp.39015011012013 42 3 say say VB mdp.39015011012013 42 4 , , , mdp.39015011012013 42 5 without without IN mdp.39015011012013 42 6 having have VBG mdp.39015011012013 42 7 the the DT mdp.39015011012013 42 8 arithmetic arithmetic NN mdp.39015011012013 42 9 at at IN mdp.39015011012013 42 10 my -PRON- PRP$ mdp.39015011012013 42 11 fingertips fingertip NNS mdp.39015011012013 42 12 , , , mdp.39015011012013 42 13 roughly roughly RB mdp.39015011012013 42 14 that that IN mdp.39015011012013 42 15 we -PRON- PRP mdp.39015011012013 42 16 have have VBP mdp.39015011012013 42 17 a a DT mdp.39015011012013 42 18 similar similar JJ mdp.39015011012013 42 19 inventory inventory NN mdp.39015011012013 42 20 situation situation NN mdp.39015011012013 42 21 as as IN mdp.39015011012013 42 22 that that DT mdp.39015011012013 42 23 which which WDT mdp.39015011012013 42 24 I -PRON- PRP mdp.39015011012013 42 25 described describe VBD mdp.39015011012013 42 26 for for IN mdp.39015011012013 42 27 the the DT mdp.39015011012013 42 28 free free JJ mdp.39015011012013 42 29 world world NN mdp.39015011012013 42 30 . . . mdp.39015011012013 43 1 However however RB mdp.39015011012013 43 2 , , , mdp.39015011012013 43 3 let let VB mdp.39015011012013 43 4 me -PRON- PRP mdp.39015011012013 43 5 point point VB mdp.39015011012013 43 6 out out RP mdp.39015011012013 43 7 the the DT mdp.39015011012013 43 8 importance importance NN mdp.39015011012013 43 9 , , , mdp.39015011012013 43 10 at at IN mdp.39015011012013 43 11 least least JJS mdp.39015011012013 43 12 immediately immediately RB mdp.39015011012013 43 13 and and CC mdp.39015011012013 43 14 in in IN mdp.39015011012013 43 15 the the DT mdp.39015011012013 43 16 near near JJ mdp.39015011012013 43 17 term term NN mdp.39015011012013 43 18 , , , mdp.39015011012013 43 19 of of IN mdp.39015011012013 43 20 the the DT mdp.39015011012013 43 21 relatively relatively RB mdp.39015011012013 43 22 small small JJ mdp.39015011012013 43 23 dependence dependence NN mdp.39015011012013 43 24 that that WDT mdp.39015011012013 43 25 U.S. U.S. NNP mdp.39015011012013 43 26 refiners refiner NNS mdp.39015011012013 43 27 have have VBP mdp.39015011012013 43 28 on on IN mdp.39015011012013 43 29 the the DT mdp.39015011012013 43 30 import import NN mdp.39015011012013 43 31 of of IN mdp.39015011012013 43 32 Iraqi iraqi JJ mdp.39015011012013 43 33 , , , mdp.39015011012013 43 34 and and CC mdp.39015011012013 43 35 of of IN mdp.39015011012013 43 36 course course NN mdp.39015011012013 43 37 Iranian iranian JJ mdp.39015011012013 43 38 , , , mdp.39015011012013 43 39 crude crude JJ mdp.39015011012013 43 40 into into IN mdp.39015011012013 43 41 this this DT mdp.39015011012013 43 42 country country NN mdp.39015011012013 43 43 . . . mdp.39015011012013 44 1 At at IN mdp.39015011012013 44 2 least least JJS mdp.39015011012013 44 3 for for IN mdp.39015011012013 44 4 the the DT mdp.39015011012013 44 5 immediate immediate JJ mdp.39015011012013 44 6 future future NN mdp.39015011012013 44 7 , , , mdp.39015011012013 44 8 I -PRON- PRP mdp.39015011012013 44 9 would would MD mdp.39015011012013 44 10 not not RB mdp.39015011012013 44 11 expect expect VB mdp.39015011012013 44 12 to to TO mdp.39015011012013 44 13 see see VB mdp.39015011012013 44 14 any any DT mdp.39015011012013 44 15 noticeable noticeable JJ mdp.39015011012013 44 16 signs sign NNS mdp.39015011012013 44 17 of of IN mdp.39015011012013 44 18 this this DT mdp.39015011012013 44 19 suspension suspension NN mdp.39015011012013 44 20 of of IN mdp.39015011012013 44 21 exports export NNS mdp.39015011012013 44 22 from from IN mdp.39015011012013 44 23 those those DT mdp.39015011012013 44 24 two two CD mdp.39015011012013 44 25 sources source NNS mdp.39015011012013 44 26 here here RB mdp.39015011012013 44 27 in in IN mdp.39015011012013 44 28 the the DT mdp.39015011012013 44 29 United United NNP mdp.39015011012013 44 30 States States NNP mdp.39015011012013 44 31 . . . mdp.39015011012013 45 1 Mr. Mr. NNP mdp.39015011012013 45 2 STANGELAND STANGELAND NNP mdp.39015011012013 45 3 . . . mdp.39015011012013 46 1 The the DT mdp.39015011012013 46 2 question question NN mdp.39015011012013 46 3 I -PRON- PRP mdp.39015011012013 46 4 raised raise VBD mdp.39015011012013 46 5 is be VBZ mdp.39015011012013 46 6 this this DT mdp.39015011012013 46 7 . . . mdp.39015011012013 47 1 What what WP mdp.39015011012013 47 2 happens happen VBZ mdp.39015011012013 47 3 if if IN mdp.39015011012013 47 4 the the DT mdp.39015011012013 47 5 Straits Straits NNPS mdp.39015011012013 47 6 of of IN mdp.39015011012013 47 7 Hormuz Hormuz NNP mdp.39015011012013 47 8 are be VBP mdp.39015011012013 47 9 closed close VBN mdp.39015011012013 47 10 ? ? . mdp.39015011012013 48 1 Does do VBZ mdp.39015011012013 48 2 that that DT mdp.39015011012013 48 3 alter alter VB mdp.39015011012013 48 4 the the DT mdp.39015011012013 48 5 picture picture NN mdp.39015011012013 48 6 ? ? . mdp.39015011012013 49 1 Mr. Mr. NNP mdp.39015011012013 49 2 SACHS SACHS NNP mdp.39015011012013 49 3 . . . mdp.39015011012013 50 1 I -PRON- PRP mdp.39015011012013 50 2 am be VBP mdp.39015011012013 50 3 sorry sorry JJ mdp.39015011012013 50 4 . . . mdp.39015011012013 51 1 I -PRON- PRP mdp.39015011012013 51 2 did do VBD mdp.39015011012013 51 3 not not RB mdp.39015011012013 51 4 understand understand VB mdp.39015011012013 51 5 that that DT mdp.39015011012013 51 6 . . . mdp.39015011012013 52 1 Mr. Mr. NNP mdp.39015011012013 52 2 STANGELAND STANGELAND NNP mdp.39015011012013 52 3 . . . mdp.39015011012013 53 1 There there EX mdp.39015011012013 53 2 is be VBZ mdp.39015011012013 53 3 a a DT mdp.39015011012013 53 4 lot lot NN mdp.39015011012013 53 5 more more JJR mdp.39015011012013 53 6 than than IN mdp.39015011012013 53 7 Iraqi iraqi JJ mdp.39015011012013 53 8 and and CC mdp.39015011012013 53 9 Iranian iranian JJ mdp.39015011012013 53 10 oil oil NN mdp.39015011012013 53 11 coming come VBG mdp.39015011012013 53 12 through through IN mdp.39015011012013 53 13 the the DT mdp.39015011012013 53 14 Straits Straits NNPS mdp.39015011012013 53 15 of of IN mdp.39015011012013 53 16 Hormuz Hormuz NNP mdp.39015011012013 53 17 . . . mdp.39015011012013 54 1 Mr. Mr. NNP mdp.39015011012013 54 2 SACHS SACHS NNP mdp.39015011012013 54 3 . . . mdp.39015011012013 55 1 Yes yes UH mdp.39015011012013 55 2 , , , mdp.39015011012013 55 3 sir sir NN mdp.39015011012013 55 4 . . . mdp.39015011012013 56 1 Mr. Mr. NNP mdp.39015011012013 56 2 STANGELAND STANGELAND NNP mdp.39015011012013 56 3 .. .. . mdp.39015011012013 57 1 I -PRON- PRP mdp.39015011012013 57 2 think think VBP mdp.39015011012013 57 3 that that DT mdp.39015011012013 57 4 is be VBZ mdp.39015011012013 57 5 the the DT mdp.39015011012013 57 6 critical critical JJ mdp.39015011012013 57 7 point point NN mdp.39015011012013 57 8 , , , mdp.39015011012013 57 9 given give VBN mdp.39015011012013 57 10 the the DT mdp.39015011012013 57 11 disturbances disturbance NNS mdp.39015011012013 57 12 going go VBG mdp.39015011012013 57 13 on on RP mdp.39015011012013 57 14 over over RB mdp.39015011012013 57 15 there there RB mdp.39015011012013 57 16 . . . mdp.39015011012013 58 1 Mr. Mr. NNP mdp.39015011012013 58 2 SACHs SACHs NNP mdp.39015011012013 58 3 . . . mdp.39015011012013 59 1 Yes yes UH mdp.39015011012013 59 2 , , , mdp.39015011012013 59 3 sir sir NN mdp.39015011012013 59 4 . . . mdp.39015011012013 60 1 Roughly roughly RB mdp.39015011012013 60 2 one one CD mdp.39015011012013 60 3 - - HYPH mdp.39015011012013 60 4 third third NN mdp.39015011012013 60 5 of of IN mdp.39015011012013 60 6 the the DT mdp.39015011012013 60 7 free free JJ mdp.39015011012013 60 8 world world NN mdp.39015011012013 60 9 's 's POS mdp.39015011012013 60 10 oil oil NN mdp.39015011012013 60 11 goes go VBZ mdp.39015011012013 60 12 through through RB mdp.39015011012013 60 13 there there RB mdp.39015011012013 60 14 . . . mdp.39015011012013 61 1 Mr. Mr. NNP mdp.39015011012013 61 2 STANGELAND STANGELAND NNP mdp.39015011012013 61 3 . . . mdp.39015011012013 62 1 What what WP mdp.39015011012013 62 2 is be VBZ mdp.39015011012013 62 3 our -PRON- PRP$ mdp.39015011012013 62 4 potential potential NN mdp.39015011012013 62 5 for for IN mdp.39015011012013 62 6 increased increase VBN mdp.39015011012013 62 7 production production NN mdp.39015011012013 62 8 and and CC mdp.39015011012013 62 9 how how WRB mdp.39015011012013 62 10 long long JJ mdp.39015011012013 62 11 a a DT mdp.39015011012013 62 12 time time NN mdp.39015011012013 62 13 frame frame NN mdp.39015011012013 62 14 would would MD mdp.39015011012013 62 15 it -PRON- PRP mdp.39015011012013 62 16 take take VB mdp.39015011012013 62 17 to to TO mdp.39015011012013 62 18 make make VB mdp.39015011012013 62 19 up up RP mdp.39015011012013 62 20 for for IN mdp.39015011012013 62 21 some some DT mdp.39015011012013 62 22 of of IN mdp.39015011012013 62 23 the the DT mdp.39015011012013 62 24 shortfall shortfall NN mdp.39015011012013 62 25 that that IN mdp.39015011012013 62 26 we -PRON- PRP mdp.39015011012013 62 27 might may MD mdp.39015011012013 62 28 experience experience VB mdp.39015011012013 62 29 if if IN mdp.39015011012013 62 30 the the DT mdp.39015011012013 62 31 Straits Straits NNPS mdp.39015011012013 62 32 of of IN mdp.39015011012013 62 33 Hormuz Hormuz NNP mdp.39015011012013 62 34 were be VBD mdp.39015011012013 62 35 closed close VBN mdp.39015011012013 62 36 ? ? . mdp.39015011012013 63 1 Mr. Mr. NNP mdp.39015011012013 63 2 SACHS SACHS NNP mdp.39015011012013 63 3 . . . mdp.39015011012013 64 1 If if IN mdp.39015011012013 64 2 I -PRON- PRP mdp.39015011012013 64 3 might may MD mdp.39015011012013 64 4 , , , mdp.39015011012013 64 5 I -PRON- PRP mdp.39015011012013 64 6 have have VBP mdp.39015011012013 64 7 a a DT mdp.39015011012013 64 8 colleague colleague NN mdp.39015011012013 64 9 here here RB mdp.39015011012013 64 10 from from IN mdp.39015011012013 64 11 our -PRON- PRP$ mdp.39015011012013 64 12 domestic domestic JJ mdp.39015011012013 64 13 affiliate affiliate NN mdp.39015011012013 64 14 in in IN mdp.39015011012013 64 15 Houston Houston NNP mdp.39015011012013 64 16 , , , mdp.39015011012013 64 17 who who WP mdp.39015011012013 64 18 is be VBZ mdp.39015011012013 64 19 quite quite PDT mdp.39015011012013 64 20 a a DT mdp.39015011012013 64 21 bit bit NN mdp.39015011012013 64 22 more more RBR mdp.39015011012013 64 23 familiar familiar JJ mdp.39015011012013 64 24 with with IN mdp.39015011012013 64 25 the the DT mdp.39015011012013 64 26 U.S. U.S. NNP mdp.39015011012013 64 27 production production NN mdp.39015011012013 64 28 situation situation NN mdp.39015011012013 64 29 than than IN mdp.39015011012013 64 30 I -PRON- PRP mdp.39015011012013 64 31 am be VBP mdp.39015011012013 64 32 , , , mdp.39015011012013 64 33 so so CC mdp.39015011012013 64 34 if if IN mdp.39015011012013 64 35 you -PRON- PRP mdp.39015011012013 64 36 will will MD mdp.39015011012013 64 37 bear bear VB mdp.39015011012013 64 38 with with IN mdp.39015011012013 64 39 me -PRON- PRP mdp.39015011012013 64 40 for for IN mdp.39015011012013 64 41 one one CD mdp.39015011012013 64 42 moment moment NN mdp.39015011012013 64 43 , , , mdp.39015011012013 64 44 I -PRON- PRP mdp.39015011012013 64 45 just just RB mdp.39015011012013 64 46 want want VBP mdp.39015011012013 64 47 to to TO mdp.39015011012013 64 48 consult consult VB mdp.39015011012013 64 49 him -PRON- PRP mdp.39015011012013 64 50 . . . mdp.39015011012013 65 1 12 12 CD mdp.39015011012013 65 2 Mr. Mr. NNP mdp.39015011012013 65 3 Moffett Moffett NNP mdp.39015011012013 65 4 . . . mdp.39015011012013 66 1 The the DT mdp.39015011012013 66 2 gentleman gentleman NN mdp.39015011012013 66 3 's 's POS mdp.39015011012013 66 4 time time NN mdp.39015011012013 66 5 has have VBZ mdp.39015011012013 66 6 expired expire VBN mdp.39015011012013 66 7 . . . mdp.39015011012013 67 1 I -PRON- PRP mdp.39015011012013 67 2 would would MD mdp.39015011012013 67 3 just just RB mdp.39015011012013 67 4 say say VB mdp.39015011012013 67 5 that that IN mdp.39015011012013 67 6 the the DT mdp.39015011012013 67 7 mandating mandating NN mdp.39015011012013 67 8 of of IN mdp.39015011012013 67 9 the the DT mdp.39015011012013 67 10 strategic strategic JJ mdp.39015011012013 67 11 petroleum petroleum NN mdp.39015011012013 67 12 reserve reserve NN mdp.39015011012013 67 13 stemmed stem VBD mdp.39015011012013 67 14 from from IN mdp.39015011012013 67 15 that that DT mdp.39015011012013 67 16 1975 1975 CD mdp.39015011012013 67 17 law law NN mdp.39015011012013 67 18 and and CC mdp.39015011012013 67 19 is be VBZ mdp.39015011012013 67 20 of of IN mdp.39015011012013 67 21 course course NN mdp.39015011012013 67 22 required require VBN mdp.39015011012013 67 23 , , , mdp.39015011012013 67 24 as as IN mdp.39015011012013 67 25 I -PRON- PRP mdp.39015011012013 67 26 recall recall VBP mdp.39015011012013 67 27 and and CC mdp.39015011012013 67 28 as as IN mdp.39015011012013 67 29 you -PRON- PRP mdp.39015011012013 67 30 correctly correctly RB mdp.39015011012013 67 31 stated state VBD mdp.39015011012013 67 32 , , , mdp.39015011012013 67 33 by by IN mdp.39015011012013 67 34 the the DT mdp.39015011012013 67 35 International International NNP mdp.39015011012013 67 36 Energy Energy NNP mdp.39015011012013 67 37 Agreement Agreement NNP mdp.39015011012013 67 38 . . . mdp.39015011012013 68 1 We -PRON- PRP mdp.39015011012013 68 2 learned learn VBD mdp.39015011012013 68 3 that that IN mdp.39015011012013 68 4 DOE DOE NNP mdp.39015011012013 68 5 was be VBD mdp.39015011012013 68 6 going go VBG mdp.39015011012013 68 7 to to TO mdp.39015011012013 68 8 start start VB mdp.39015011012013 68 9 refilling refill VBG mdp.39015011012013 68 10 the the DT mdp.39015011012013 68 11 strategic strategic NNP mdp.39015011012013 68 12 reserve reserve NN mdp.39015011012013 68 13 , , , mdp.39015011012013 68 14 beginning begin VBG mdp.39015011012013 68 15 about about IN mdp.39015011012013 68 16 tomorrow tomorrow NN mdp.39015011012013 68 17 , , , mdp.39015011012013 68 18 but but CC mdp.39015011012013 68 19 it -PRON- PRP mdp.39015011012013 68 20 is be VBZ mdp.39015011012013 68 21 our -PRON- PRP$ mdp.39015011012013 68 22 guess guess NN mdp.39015011012013 68 23 that that IN mdp.39015011012013 68 24 due due IN mdp.39015011012013 68 25 to to IN mdp.39015011012013 68 26 the the DT mdp.39015011012013 68 27 current current JJ mdp.39015011012013 68 28 situation situation NN mdp.39015011012013 68 29 that that IN mdp.39015011012013 68 30 that that DT mdp.39015011012013 68 31 may may MD mdp.39015011012013 68 32 not not RB mdp.39015011012013 68 33 happen happen VB mdp.39015011012013 68 34 . . . mdp.39015011012013 69 1 Have have VBP mdp.39015011012013 69 2 you -PRON- PRP mdp.39015011012013 69 3 heard hear VBN mdp.39015011012013 69 4 anything anything NN mdp.39015011012013 69 5 with with IN mdp.39015011012013 69 6 regard regard NN mdp.39015011012013 69 7 to to IN mdp.39015011012013 69 8 that that DT mdp.39015011012013 69 9 ? ? . mdp.39015011012013 70 1 Mr. Mr. NNP mdp.39015011012013 70 2 CARTER CARTER NNP mdp.39015011012013 70 3 . . . mdp.39015011012013 71 1 No no UH mdp.39015011012013 71 2 , , , mdp.39015011012013 71 3 sir sir NN mdp.39015011012013 71 4 . . . mdp.39015011012013 72 1 I -PRON- PRP mdp.39015011012013 72 2 have have VBP mdp.39015011012013 72 3 not not RB mdp.39015011012013 72 4 . . . mdp.39015011012013 73 1 Mr. Mr. NNP mdp.39015011012013 73 2 MoEFETT MoEFETT NNP mdp.39015011012013 73 3 . . . mdp.39015011012013 74 1 We -PRON- PRP mdp.39015011012013 74 2 will will MD mdp.39015011012013 74 3 direct direct VB mdp.39015011012013 74 4 that that DT mdp.39015011012013 74 5 at at IN mdp.39015011012013 74 6 Government government NN mdp.39015011012013 74 7 witnesses witness NNS mdp.39015011012013 74 8 , , , mdp.39015011012013 74 9 but but CC mdp.39015011012013 74 10 I -PRON- PRP mdp.39015011012013 74 11 wondered wonder VBD mdp.39015011012013 74 12 if if IN mdp.39015011012013 74 13 you -PRON- PRP mdp.39015011012013 74 14 had have VBD mdp.39015011012013 74 15 . . . mdp.39015011012013 75 1 It -PRON- PRP mdp.39015011012013 75 2 is be VBZ mdp.39015011012013 75 3 an an DT mdp.39015011012013 75 4 interesting interesting JJ mdp.39015011012013 75 5 question question NN mdp.39015011012013 75 6 as as IN mdp.39015011012013 75 7 to to IN mdp.39015011012013 75 8 whether whether IN mdp.39015011012013 75 9 or or CC mdp.39015011012013 75 10 not not RB mdp.39015011012013 75 11 the the DT mdp.39015011012013 75 12 rather rather RB mdp.39015011012013 75 13 optimistic optimistic JJ mdp.39015011012013 75 14 picture picture NN mdp.39015011012013 75 15 that that WDT mdp.39015011012013 75 16 you -PRON- PRP mdp.39015011012013 75 17 paint paint VBP mdp.39015011012013 75 18 , , , mdp.39015011012013 75 19 Mr. Mr. NNP mdp.39015011012013 75 20 Sachs Sachs NNP mdp.39015011012013 75 21 , , , mdp.39015011012013 75 22 with with IN mdp.39015011012013 75 23 regard regard NN mdp.39015011012013 75 24 to to IN mdp.39015011012013 75 25 supply supply NN mdp.39015011012013 75 26 could could MD mdp.39015011012013 75 27 in in IN mdp.39015011012013 75 28 fact fact NN mdp.39015011012013 75 29 allow allow VB mdp.39015011012013 75 30 us -PRON- PRP mdp.39015011012013 75 31 to to TO mdp.39015011012013 75 32 continue continue VB mdp.39015011012013 75 33 with with IN mdp.39015011012013 75 34 plans plan NNS mdp.39015011012013 75 35 to to TO mdp.39015011012013 75 36 refill refill VB mdp.39015011012013 75 37 the the DT mdp.39015011012013 75 38 strategic strategic JJ mdp.39015011012013 75 39 reserve reserve NN mdp.39015011012013 75 40 . . . mdp.39015011012013 76 1 That that DT mdp.39015011012013 76 2 is be VBZ mdp.39015011012013 76 3 a a DT mdp.39015011012013 76 4 question question NN mdp.39015011012013 76 5 that that WDT mdp.39015011012013 76 6 needs need VBZ mdp.39015011012013 76 7 to to TO mdp.39015011012013 76 8 be be VB mdp.39015011012013 76 9 answered answer VBN mdp.39015011012013 76 10 . . . mdp.39015011012013 77 1 At at IN mdp.39015011012013 77 2 this this DT mdp.39015011012013 77 3 time time NN mdp.39015011012013 77 4 , , , mdp.39015011012013 77 5 the the DT mdp.39015011012013 77 6 Chair Chair NNP mdp.39015011012013 77 7 recognizes recognize VBZ mdp.39015011012013 77 8 the the DT mdp.39015011012013 77 9 gentleman gentleman NN mdp.39015011012013 77 10 from from IN mdp.39015011012013 77 11 Indiana Indiana NNP mdp.39015011012013 77 12 , , , mdp.39015011012013 77 13 Mr. Mr. NNP mdp.39015011012013 77 14 Fithian Fithian NNP mdp.39015011012013 77 15 , , , mdp.39015011012013 77 16 for for IN mdp.39015011012013 77 17 5 5 CD mdp.39015011012013 77 18 minutes minute NNS mdp.39015011012013 77 19 . . . mdp.39015011012013 78 1 Mr. Mr. NNP mdp.39015011012013 78 2 FITHIAN FITHIAN NNP mdp.39015011012013 78 3 . . . mdp.39015011012013 79 1 Thank thank VBP mdp.39015011012013 79 2 you -PRON- PRP mdp.39015011012013 79 3 , , , mdp.39015011012013 79 4 Mr. Mr. NNP mdp.39015011012013 79 5 Chairman Chairman NNP mdp.39015011012013 79 6 . . . mdp.39015011012013 80 1 Thank thank VBP mdp.39015011012013 80 2 you -PRON- PRP mdp.39015011012013 80 3 , , , mdp.39015011012013 80 4 Mr. Mr. NNP mdp.39015011012013 80 5 Sachs Sachs NNP mdp.39015011012013 80 6 . . . mdp.39015011012013 81 1 Even even RB mdp.39015011012013 81 2 though though IN mdp.39015011012013 81 3 the the DT mdp.39015011012013 81 4 American american JJ mdp.39015011012013 81 5 supply supply NN mdp.39015011012013 81 6 is be VBZ mdp.39015011012013 81 7 not not RB mdp.39015011012013 81 8 so so RB mdp.39015011012013 81 9 directly directly RB mdp.39015011012013 81 10 effected effect VBN mdp.39015011012013 81 11 by by IN mdp.39015011012013 81 12 the the DT mdp.39015011012013 81 13 Iraqi iraqi JJ mdp.39015011012013 81 14 - - HYPH mdp.39015011012013 81 15 Iranian iranian JJ mdp.39015011012013 81 16 controversy controversy NN mdp.39015011012013 81 17 because because IN mdp.39015011012013 81 18 of of IN mdp.39015011012013 81 19 our -PRON- PRP$ mdp.39015011012013 81 20 historical historical JJ mdp.39015011012013 81 21 purchase purchase NN mdp.39015011012013 81 22 patterns pattern NNS mdp.39015011012013 81 23 , , , mdp.39015011012013 81 24 will will MD mdp.39015011012013 81 25 there there EX mdp.39015011012013 81 26 not not RB mdp.39015011012013 81 27 be be VB mdp.39015011012013 81 28 a a DT mdp.39015011012013 81 29 tendency tendency NN mdp.39015011012013 81 30 for for IN mdp.39015011012013 81 31 oil oil NN mdp.39015011012013 81 32 companies company NNS mdp.39015011012013 81 33 to to TO mdp.39015011012013 81 34 take take VB mdp.39015011012013 81 35 advantage advantage NN mdp.39015011012013 81 36 of of IN mdp.39015011012013 81 37 this this DT mdp.39015011012013 81 38 situation situation NN mdp.39015011012013 81 39 and and CC mdp.39015011012013 81 40 raise raise VB mdp.39015011012013 81 41 oil oil NN mdp.39015011012013 81 42 prices price NNS mdp.39015011012013 81 43 rapidly rapidly RB mdp.39015011012013 81 44 over over IN mdp.39015011012013 81 45 the the DT mdp.39015011012013 81 46 next next JJ mdp.39015011012013 81 47 year year NN mdp.39015011012013 81 48 ? ? . mdp.39015011012013 82 1 Mr. Mr. NNP mdp.39015011012013 82 2 SACHS SACHS NNP mdp.39015011012013 82 3 . . . mdp.39015011012013 83 1 I -PRON- PRP mdp.39015011012013 83 2 think think VBP mdp.39015011012013 83 3 that that IN mdp.39015011012013 83 4 we -PRON- PRP mdp.39015011012013 83 5 are be VBP mdp.39015011012013 83 6 hardly hardly RB mdp.39015011012013 83 7 in in IN mdp.39015011012013 83 8 a a DT mdp.39015011012013 83 9 position position NN mdp.39015011012013 83 10 to to TO mdp.39015011012013 83 11 speak speak VB mdp.39015011012013 83 12 for for IN mdp.39015011012013 83 13 any any DT mdp.39015011012013 83 14 other other JJ mdp.39015011012013 83 15 marketer marketer NN mdp.39015011012013 83 16 in in IN mdp.39015011012013 83 17 terms term NNS mdp.39015011012013 83 18 of of IN mdp.39015011012013 83 19 that that DT mdp.39015011012013 83 20 aspect aspect NN mdp.39015011012013 83 21 of of IN mdp.39015011012013 83 22 the the DT mdp.39015011012013 83 23 business business NN mdp.39015011012013 83 24 . . . mdp.39015011012013 84 1 I -PRON- PRP mdp.39015011012013 84 2 think think VBP mdp.39015011012013 84 3 the the DT mdp.39015011012013 84 4 standard standard NN mdp.39015011012013 84 5 of of IN mdp.39015011012013 84 6 Exxon Exxon NNP mdp.39015011012013 84 7 in in IN mdp.39015011012013 84 8 supplying supply VBG mdp.39015011012013 84 9 customers customer NNS mdp.39015011012013 84 10 is be VBZ mdp.39015011012013 84 11 to to TO mdp.39015011012013 84 12 continue continue VB mdp.39015011012013 84 13 trying try VBG mdp.39015011012013 84 14 our -PRON- PRP$ mdp.39015011012013 84 15 best good JJS mdp.39015011012013 84 16 to to TO mdp.39015011012013 84 17 get get VB mdp.39015011012013 84 18 products product NNS mdp.39015011012013 84 19 to to IN mdp.39015011012013 84 20 the the DT mdp.39015011012013 84 21 consumer consumer NN mdp.39015011012013 84 22 in in IN mdp.39015011012013 84 23 the the DT mdp.39015011012013 84 24 most most RBS mdp.39015011012013 84 25 economical economical JJ mdp.39015011012013 84 26 way way NN mdp.39015011012013 84 27 possible possible JJ mdp.39015011012013 84 28 . . . mdp.39015011012013 85 1 I -PRON- PRP mdp.39015011012013 85 2 would would MD mdp.39015011012013 85 3 have have VB mdp.39015011012013 85 4 an an DT mdp.39015011012013 85 5 awful awful JJ mdp.39015011012013 85 6 lot lot NN mdp.39015011012013 85 7 of of IN mdp.39015011012013 85 8 trouble trouble NN mdp.39015011012013 85 9 translating translate VBG mdp.39015011012013 85 10 that that DT mdp.39015011012013 85 11 into into IN mdp.39015011012013 85 12 the the DT mdp.39015011012013 85 13 connotation connotation NN mdp.39015011012013 85 14 that that WDT mdp.39015011012013 85 15 I -PRON- PRP mdp.39015011012013 85 16 believe believe VBP mdp.39015011012013 85 17 you -PRON- PRP mdp.39015011012013 85 18 expressed express VBD mdp.39015011012013 85 19 . . . mdp.39015011012013 86 1 Mr. Mr. NNP mdp.39015011012013 86 2 FITHIAN FITHIAN NNP mdp.39015011012013 86 3 . . . mdp.39015011012013 87 1 However however RB mdp.39015011012013 87 2 , , , mdp.39015011012013 87 3 as as IN mdp.39015011012013 87 4 an an DT mdp.39015011012013 87 5 expert expert NN mdp.39015011012013 87 6 in in IN mdp.39015011012013 87 7 this this DT mdp.39015011012013 87 8 area area NN mdp.39015011012013 87 9 , , , mdp.39015011012013 87 10 if if IN mdp.39015011012013 87 11 you -PRON- PRP mdp.39015011012013 87 12 were be VBD mdp.39015011012013 87 13 betting bet VBG mdp.39015011012013 87 14 your -PRON- PRP$ mdp.39015011012013 87 15 own own JJ mdp.39015011012013 87 16 money money NN mdp.39015011012013 87 17 in in IN mdp.39015011012013 87 18 Las Las NNP mdp.39015011012013 87 19 Vegas Vegas NNP mdp.39015011012013 87 20 , , , mdp.39015011012013 87 21 you -PRON- PRP mdp.39015011012013 87 22 would would MD mdp.39015011012013 87 23 bet bet VB mdp.39015011012013 87 24 on on IN mdp.39015011012013 87 25 higher high JJR mdp.39015011012013 87 26 prices price NNS mdp.39015011012013 87 27 of of IN mdp.39015011012013 87 28 oil oil NN mdp.39015011012013 87 29 pretty pretty RB mdp.39015011012013 87 30 rapidly rapidly RB mdp.39015011012013 87 31 , , , mdp.39015011012013 87 32 would would MD mdp.39015011012013 87 33 you -PRON- PRP mdp.39015011012013 87 34 not not RB mdp.39015011012013 87 35 ? ? . mdp.39015011012013 88 1 Mr. Mr. NNP mdp.39015011012013 88 2 SACHS SACHS NNP mdp.39015011012013 88 3 . . . mdp.39015011012013 89 1 I -PRON- PRP mdp.39015011012013 89 2 tried try VBD mdp.39015011012013 89 3 to to TO mdp.39015011012013 89 4 say say VB mdp.39015011012013 89 5 earlier early RBR mdp.39015011012013 89 6 that that IN mdp.39015011012013 89 7 I -PRON- PRP mdp.39015011012013 89 8 would would MD mdp.39015011012013 89 9 not not RB mdp.39015011012013 89 10 bet bet VB mdp.39015011012013 89 11 that that DT mdp.39015011012013 89 12 way way NN mdp.39015011012013 89 13 immediately immediately RB mdp.39015011012013 89 14 . . . mdp.39015011012013 90 1 The the DT mdp.39015011012013 90 2 spot spot NN mdp.39015011012013 90 3 market market NN mdp.39015011012013 90 4 , , , mdp.39015011012013 90 5 again again RB mdp.39015011012013 90 6 , , , mdp.39015011012013 90 7 is be VBZ mdp.39015011012013 90 8 a a DT mdp.39015011012013 90 9 small small JJ mdp.39015011012013 90 10 part part NN mdp.39015011012013 90 11 of of IN mdp.39015011012013 90 12 the the DT mdp.39015011012013 90 13 indus- indus- NN mdp.39015011012013 90 14 try try VB mdp.39015011012013 90 15 picture picture NN mdp.39015011012013 90 16 but but CC mdp.39015011012013 90 17 one one NN mdp.39015011012013 90 18 that that WDT mdp.39015011012013 90 19 is be VBZ mdp.39015011012013 90 20 highly highly RB mdp.39015011012013 90 21 publicized publicize VBN mdp.39015011012013 90 22 and and CC mdp.39015011012013 90 23 highly highly RB mdp.39015011012013 90 24 volatile volatile JJ mdp.39015011012013 90 25 . . . mdp.39015011012013 91 1 It -PRON- PRP mdp.39015011012013 91 2 has have VBZ mdp.39015011012013 91 3 shown show VBN mdp.39015011012013 91 4 mixed mixed JJ mdp.39015011012013 91 5 signals signal NNS mdp.39015011012013 91 6 . . . mdp.39015011012013 92 1 Some some DT mdp.39015011012013 92 2 buying buying NN mdp.39015011012013 92 3 pressures pressure NNS mdp.39015011012013 92 4 are be VBP mdp.39015011012013 92 5 starting start VBG mdp.39015011012013 92 6 to to TO mdp.39015011012013 92 7 show show VB mdp.39015011012013 92 8 up up RP mdp.39015011012013 92 9 in in IN mdp.39015011012013 92 10 the the DT mdp.39015011012013 92 11 product product NN mdp.39015011012013 92 12 market market NN mdp.39015011012013 92 13 . . . mdp.39015011012013 93 1 The the DT mdp.39015011012013 93 2 crude crude JJ mdp.39015011012013 93 3 market market NN mdp.39015011012013 93 4 is be VBZ mdp.39015011012013 93 5 almost almost RB mdp.39015011012013 93 6 frozen frozen JJ mdp.39015011012013 93 7 . . . mdp.39015011012013 94 1 There there EX mdp.39015011012013 94 2 is be VBZ mdp.39015011012013 94 3 hardly hardly RB mdp.39015011012013 94 4 any any DT mdp.39015011012013 94 5 activity activity NN mdp.39015011012013 94 6 at at RB mdp.39015011012013 94 7 all all RB mdp.39015011012013 94 8 . . . mdp.39015011012013 95 1 That that DT mdp.39015011012013 95 2 is be VBZ mdp.39015011012013 95 3 in in IN mdp.39015011012013 95 4 complete complete JJ mdp.39015011012013 95 5 contrast contrast NN mdp.39015011012013 95 6 to to IN mdp.39015011012013 95 7 what what WP mdp.39015011012013 95 8 happened happen VBD mdp.39015011012013 95 9 after after IN mdp.39015011012013 95 10 the the DT mdp.39015011012013 95 11 Iranian iranian JJ mdp.39015011012013 95 12 situation situation NN mdp.39015011012013 95 13 . . . mdp.39015011012013 96 1 Mr. Mr. NNP mdp.39015011012013 96 2 FITHIAN FITHIAN NNP mdp.39015011012013 96 3 . . . mdp.39015011012013 97 1 However however RB mdp.39015011012013 97 2 , , , mdp.39015011012013 97 3 given give VBN mdp.39015011012013 97 4 the the DT mdp.39015011012013 97 5 percentage percentage NN mdp.39015011012013 97 6 of of IN mdp.39015011012013 97 7 the the DT mdp.39015011012013 97 8 world world NN mdp.39015011012013 97 9 's 's POS mdp.39015011012013 97 10 supply supply NN mdp.39015011012013 97 11 that that WDT mdp.39015011012013 97 12 comes come VBZ mdp.39015011012013 97 13 from from IN mdp.39015011012013 97 14 those those DT mdp.39015011012013 97 15 two two CD mdp.39015011012013 97 16 countries country NNS mdp.39015011012013 97 17 , , , mdp.39015011012013 97 18 even even RB mdp.39015011012013 97 19 if if IN mdp.39015011012013 97 20 it -PRON- PRP mdp.39015011012013 97 21 does do VBZ mdp.39015011012013 97 22 not not RB mdp.39015011012013 97 23 spread spread VB mdp.39015011012013 97 24 to to IN mdp.39015011012013 97 25 any any DT mdp.39015011012013 97 26 other other JJ mdp.39015011012013 97 27 area area NN mdp.39015011012013 97 28 , , , mdp.39015011012013 97 29 if if IN mdp.39015011012013 97 30 the the DT mdp.39015011012013 97 31 damage damage NN mdp.39015011012013 97 32 reports report NNS mdp.39015011012013 97 33 about about IN mdp.39015011012013 97 34 which which WDT mdp.39015011012013 97 35 we -PRON- PRP mdp.39015011012013 97 36 now now RB mdp.39015011012013 97 37 read read VBP mdp.39015011012013 97 38 are be VBP mdp.39015011012013 97 39 true true JJ mdp.39015011012013 97 40 and and CC mdp.39015011012013 97 41 if if IN mdp.39015011012013 97 42 the the DT mdp.39015011012013 97 43 repair repair NN mdp.39015011012013 97 44 is be VBZ mdp.39015011012013 97 45 significantly significantly RB mdp.39015011012013 97 46 delayed delay VBN mdp.39015011012013 97 47 by by IN mdp.39015011012013 97 48 continued continue VBN mdp.39015011012013 97 49 military military JJ mdp.39015011012013 97 50 activities activity NNS mdp.39015011012013 97 51 , , , mdp.39015011012013 97 52 that that DT mdp.39015011012013 97 53 shortage shortage NN mdp.39015011012013 97 54 will will MD mdp.39015011012013 97 55 rather rather RB mdp.39015011012013 97 56 quickly quickly RB mdp.39015011012013 97 57 wipe wipe VB mdp.39015011012013 97 58 out out RP mdp.39015011012013 97 59 whatever whatever WDT mdp.39015011012013 97 60 oversupply oversupply NN mdp.39015011012013 97 61 we -PRON- PRP mdp.39015011012013 97 62 have have VBP mdp.39015011012013 97 63 , , , mdp.39015011012013 97 64 certainly certainly RB mdp.39015011012013 97 65 in in IN mdp.39015011012013 97 66 3 3 CD mdp.39015011012013 97 67 to to TO mdp.39015011012013 97 68 4 4 CD mdp.39015011012013 97 69 months month NNS mdp.39015011012013 97 70 . . . mdp.39015011012013 98 1 I -PRON- PRP mdp.39015011012013 98 2 am be VBP mdp.39015011012013 98 3 talking talk VBG mdp.39015011012013 98 4 about about IN mdp.39015011012013 98 5 this this DT mdp.39015011012013 98 6 year year NN mdp.39015011012013 98 7 , , , mdp.39015011012013 98 8 1980 1980 CD mdp.39015011012013 98 9 , , , mdp.39015011012013 98 10 when when WRB mdp.39015011012013 98 11 decontrol decontrol NN mdp.39015011012013 98 12 will will MD mdp.39015011012013 98 13 be be VB mdp.39015011012013 98 14 there there RB mdp.39015011012013 98 15 and and CC mdp.39015011012013 98 16 the the DT mdp.39015011012013 98 17 Government Government NNP mdp.39015011012013 98 18 will will MD mdp.39015011012013 98 19 not not RB mdp.39015011012013 98 20 in in IN mdp.39015011012013 98 21 any any DT mdp.39015011012013 98 22 way way NN mdp.39015011012013 98 23 be be VB mdp.39015011012013 98 24 able able JJ mdp.39015011012013 98 25 to to TO mdp.39015011012013 98 26 hold hold VB mdp.39015011012013 98 27 the the DT mdp.39015011012013 98 28 price price NN mdp.39015011012013 98 29 . . . mdp.39015011012013 99 1 It -PRON- PRP mdp.39015011012013 99 2 just just RB mdp.39015011012013 99 3 seems seem VBZ mdp.39015011012013 99 4 to to IN mdp.39015011012013 99 5 me -PRON- PRP mdp.39015011012013 99 6 , , , mdp.39015011012013 99 7 as as IN mdp.39015011012013 99 8 a a DT mdp.39015011012013 99 9 nonexpert nonexpert NN mdp.39015011012013 99 10 in in IN mdp.39015011012013 99 11 this this DT mdp.39015011012013 99 12 area area NN mdp.39015011012013 99 13 , , , mdp.39015011012013 99 14 that that IN mdp.39015011012013 99 15 it -PRON- PRP mdp.39015011012013 99 16 would would MD mdp.39015011012013 99 17 be be VB mdp.39015011012013 99 18 an an DT mdp.39015011012013 99 19 absolutely absolutely RB mdp.39015011012013 99 20 safe safe JJ mdp.39015011012013 99 21 bet bet NN mdp.39015011012013 99 22 that that IN mdp.39015011012013 99 23 we -PRON- PRP mdp.39015011012013 99 24 will will MD mdp.39015011012013 99 25 see see VB mdp.39015011012013 99 26 domestic domestic JJ mdp.39015011012013 99 27 oil oil NN mdp.39015011012013 99 28 prices price NNS mdp.39015011012013 99 29 very very RB mdp.39015011012013 99 30 appreciably appreciably RB mdp.39015011012013 99 31 higher higher RBR mdp.39015011012013 99 32 , , , mdp.39015011012013 99 33 unless unless IN mdp.39015011012013 99 34 we -PRON- PRP mdp.39015011012013 99 35 get get VBP mdp.39015011012013 99 36 a a DT mdp.39015011012013 99 37 very very RB mdp.39015011012013 99 38 rapid rapid JJ mdp.39015011012013 99 39 cessation cessation NN mdp.39015011012013 99 40 of of IN mdp.39015011012013 99 41 the the DT mdp.39015011012013 99 42 Iraqi iraqi JJ mdp.39015011012013 99 43 - - HYPH mdp.39015011012013 99 44 Iranian iranian JJ mdp.39015011012013 99 45 conflict conflict NN mdp.39015011012013 99 46 and and CC mdp.39015011012013 99 47 a a DT mdp.39015011012013 99 48 pretty pretty RB mdp.39015011012013 99 49 rapid rapid JJ mdp.39015011012013 99 50 repair repair NN mdp.39015011012013 99 51 of of IN mdp.39015011012013 99 52 the the DT mdp.39015011012013 99 53 facilities facility NNS mdp.39015011012013 99 54 . . . mdp.39015011012013 100 1 16 16 CD mdp.39015011012013 100 2 Mr. Mr. NNP mdp.39015011012013 100 3 SACHs SACHs NNP mdp.39015011012013 100 4 . . . mdp.39015011012013 101 1 In in IN mdp.39015011012013 101 2 the the DT mdp.39015011012013 101 3 case case NN mdp.39015011012013 101 4 of of IN mdp.39015011012013 101 5 the the DT mdp.39015011012013 101 6 instance instance NN mdp.39015011012013 101 7 you -PRON- PRP mdp.39015011012013 101 8 mentioned mention VBD mdp.39015011012013 101 9 , , , mdp.39015011012013 101 10 the the DT mdp.39015011012013 101 11 Octo- Octo- NNP mdp.39015011012013 101 12 ber ber NNP mdp.39015011012013 101 13 6 6 CD mdp.39015011012013 101 14 loading loading NN mdp.39015011012013 101 15 , , , mdp.39015011012013 101 16 that that WDT mdp.39015011012013 101 17 had have VBD mdp.39015011012013 101 18 been be VBN mdp.39015011012013 101 19 scheduled schedule VBN mdp.39015011012013 101 20 before before IN mdp.39015011012013 101 21 the the DT mdp.39015011012013 101 22 conflict conflict NN mdp.39015011012013 101 23 broke break VBD mdp.39015011012013 101 24 out out RP mdp.39015011012013 101 25 in in IN mdp.39015011012013 101 26 Iraq Iraq NNP mdp.39015011012013 101 27 in in IN mdp.39015011012013 101 28 conformance conformance NN mdp.39015011012013 101 29 with with IN mdp.39015011012013 101 30 the the DT mdp.39015011012013 101 31 contracts contract NNS mdp.39015011012013 101 32 I -PRON- PRP mdp.39015011012013 101 33 alluded allude VBD mdp.39015011012013 101 34 to to IN mdp.39015011012013 101 35 earlier early RBR mdp.39015011012013 101 36 . . . mdp.39015011012013 102 1 Our -PRON- PRP$ mdp.39015011012013 102 2 affiliates affiliate NNS mdp.39015011012013 102 3 have have VBP mdp.39015011012013 102 4 been be VBN mdp.39015011012013 102 5 served serve VBN mdp.39015011012013 102 6 notice notice NN mdp.39015011012013 102 7 by by IN mdp.39015011012013 102 8 the the DT mdp.39015011012013 102 9 Iraq Iraq NNP mdp.39015011012013 102 10 National National NNP mdp.39015011012013 102 11 Oil Oil NNP mdp.39015011012013 102 12 Co. Co. NNP mdp.39015011012013 102 13 of of IN mdp.39015011012013 102 14 a a DT mdp.39015011012013 102 15 force force NN mdp.39015011012013 102 16 majeure majeure NN mdp.39015011012013 102 17 situation situation NN mdp.39015011012013 102 18 , , , mdp.39015011012013 102 19 a a DT mdp.39015011012013 102 20 total total JJ mdp.39015011012013 102 21 force force NN mdp.39015011012013 102 22 majeure majeure NN mdp.39015011012013 102 23 situation situation NN mdp.39015011012013 102 24 , , , mdp.39015011012013 102 25 which which WDT mdp.39015011012013 102 26 means mean VBZ mdp.39015011012013 102 27 no no DT mdp.39015011012013 102 28 oil oil NN mdp.39015011012013 102 29 at at RB mdp.39015011012013 102 30 all all RB mdp.39015011012013 102 31 ; ; : mdp.39015011012013 102 32 so so RB mdp.39015011012013 102 33 obviously obviously RB mdp.39015011012013 102 34 the the DT mdp.39015011012013 102 35 people people NNS mdp.39015011012013 102 36 involved involve VBN mdp.39015011012013 102 37 in in IN mdp.39015011012013 102 38 our -PRON- PRP$ mdp.39015011012013 102 39 ships ship NNS mdp.39015011012013 102 40 ' ' POS mdp.39015011012013 102 41 scheduling scheduling NN mdp.39015011012013 102 42 have have VBP mdp.39015011012013 102 43 scratched scratch VBN mdp.39015011012013 102 44 that that DT mdp.39015011012013 102 45 vessel vessel NN mdp.39015011012013 102 46 for for IN mdp.39015011012013 102 47 the the DT mdp.39015011012013 102 48 moment moment NN mdp.39015011012013 102 49 ( ( -LRB- mdp.39015011012013 102 50 from from IN mdp.39015011012013 102 51 that that DT mdp.39015011012013 102 52 October October NNP mdp.39015011012013 102 53 6 6 CD mdp.39015011012013 102 54 loading loading NN mdp.39015011012013 102 55 ) ) -RRB- mdp.39015011012013 102 56 until until IN mdp.39015011012013 102 57 we -PRON- PRP mdp.39015011012013 102 58 get get VBP mdp.39015011012013 102 59 further further JJ mdp.39015011012013 102 60 notice notice NN mdp.39015011012013 102 61 . . . mdp.39015011012013 103 1 In in IN mdp.39015011012013 103 2 terms term NNS mdp.39015011012013 103 3 of of IN mdp.39015011012013 103 4 the the DT mdp.39015011012013 103 5 other other JJ mdp.39015011012013 103 6 vessels vessel NNS mdp.39015011012013 103 7 entering enter VBG mdp.39015011012013 103 8 the the DT mdp.39015011012013 103 9 Persian Persian NNP mdp.39015011012013 103 10 Gulf Gulf NNP mdp.39015011012013 103 11 — — : mdp.39015011012013 103 12 and and CC mdp.39015011012013 103 13 as as IN mdp.39015011012013 103 14 I -PRON- PRP mdp.39015011012013 103 15 mentioned mention VBD mdp.39015011012013 103 16 earlier early RBR mdp.39015011012013 103 17 , , , mdp.39015011012013 103 18 primarily primarily RB mdp.39015011012013 103 19 for for IN mdp.39015011012013 103 20 Saudi saudi JJ mdp.39015011012013 103 21 Arabian arabian JJ mdp.39015011012013 103 22 liftings lifting NNS mdp.39015011012013 103 23 as as IN mdp.39015011012013 103 24 our -PRON- PRP$ mdp.39015011012013 103 25 major major JJ mdp.39015011012013 103 26 source source NN mdp.39015011012013 103 27 of of IN mdp.39015011012013 103 28 supply supply NN mdp.39015011012013 103 29 — — : mdp.39015011012013 103 30 we -PRON- PRP mdp.39015011012013 103 31 are be VBP mdp.39015011012013 103 32 moving move VBG mdp.39015011012013 103 33 those those DT mdp.39015011012013 103 34 vessels vessel NNS mdp.39015011012013 103 35 normally normally RB mdp.39015011012013 103 36 and and CC mdp.39015011012013 103 37 hope hope VBP mdp.39015011012013 103 38 we -PRON- PRP mdp.39015011012013 103 39 can can MD mdp.39015011012013 103 40 continue continue VB mdp.39015011012013 103 41 to to TO mdp.39015011012013 103 42 do do VB mdp.39015011012013 103 43 that that DT mdp.39015011012013 103 44 . . . mdp.39015011012013 104 1 We -PRON- PRP mdp.39015011012013 104 2 appraise appraise VBP mdp.39015011012013 104 3 the the DT mdp.39015011012013 104 4 situation situation NN mdp.39015011012013 104 5 through through IN mdp.39015011012013 104 6 reports report NNS mdp.39015011012013 104 7 from from IN mdp.39015011012013 104 8 our -PRON- PRP$ mdp.39015011012013 104 9 captains captain NNS mdp.39015011012013 104 10 . . . mdp.39015011012013 105 1 They -PRON- PRP mdp.39015011012013 105 2 keep keep VBP mdp.39015011012013 105 3 us -PRON- PRP mdp.39015011012013 105 4 informed informed JJ mdp.39015011012013 105 5 and and CC mdp.39015011012013 105 6 we -PRON- PRP mdp.39015011012013 105 7 keep keep VBP mdp.39015011012013 105 8 trying try VBG mdp.39015011012013 105 9 to to TO mdp.39015011012013 105 10 run run VB mdp.39015011012013 105 11 the the DT mdp.39015011012013 105 12 operation operation NN mdp.39015011012013 105 13 normally normally RB mdp.39015011012013 105 14 . . . mdp.39015011012013 106 1 Mr. Mr. NNP mdp.39015011012013 106 2 Moffett Moffett NNP mdp.39015011012013 106 3 . . . mdp.39015011012013 107 1 Do do VBP mdp.39015011012013 107 2 you -PRON- PRP mdp.39015011012013 107 3 have have VB mdp.39015011012013 107 4 tankers tanker NNS mdp.39015011012013 107 5 in in IN mdp.39015011012013 107 6 or or CC mdp.39015011012013 107 7 near near IN mdp.39015011012013 107 8 the the DT mdp.39015011012013 107 9 Straits Straits NNPS mdp.39015011012013 107 10 at at IN mdp.39015011012013 107 11 this this DT mdp.39015011012013 107 12 moment moment NN mdp.39015011012013 107 13 , , , mdp.39015011012013 107 14 to to IN mdp.39015011012013 107 15 your -PRON- PRP$ mdp.39015011012013 107 16 knowledge knowledge NN mdp.39015011012013 107 17 ? ? . mdp.39015011012013 108 1 Mr. Mr. NNP mdp.39015011012013 108 2 SACHS SACHS NNP mdp.39015011012013 108 3 . . . mdp.39015011012013 109 1 I -PRON- PRP mdp.39015011012013 109 2 am be VBP mdp.39015011012013 109 3 not not RB mdp.39015011012013 109 4 sure sure JJ mdp.39015011012013 109 5 . . . mdp.39015011012013 110 1 I -PRON- PRP mdp.39015011012013 110 2 believe believe VBP mdp.39015011012013 110 3 we -PRON- PRP mdp.39015011012013 110 4 had have VBD mdp.39015011012013 110 5 one one CD mdp.39015011012013 110 6 go go VB mdp.39015011012013 110 7 through through RB mdp.39015011012013 110 8 over over IN mdp.39015011012013 110 9 the the DT mdp.39015011012013 110 10 weekend weekend NN mdp.39015011012013 110 11 and and CC mdp.39015011012013 110 12 we -PRON- PRP mdp.39015011012013 110 13 have have VBP mdp.39015011012013 110 14 another another DT mdp.39015011012013 110 15 one one NN mdp.39015011012013 110 16 that that WDT mdp.39015011012013 110 17 should should MD mdp.39015011012013 110 18 be be VB mdp.39015011012013 110 19 coming come VBG mdp.39015011012013 110 20 out out RP mdp.39015011012013 110 21 within within IN mdp.39015011012013 110 22 the the DT mdp.39015011012013 110 23 very very RB mdp.39015011012013 110 24 immediate immediate JJ mdp.39015011012013 110 25 period period NN mdp.39015011012013 110 26 . . . mdp.39015011012013 111 1 Mr. Mr. NNP mdp.39015011012013 111 2 Moffett Moffett NNP mdp.39015011012013 111 3 . . . mdp.39015011012013 112 1 Your -PRON- PRP$ mdp.39015011012013 112 2 testimony testimony NN mdp.39015011012013 112 3 is be VBZ mdp.39015011012013 112 4 that that IN mdp.39015011012013 112 5 , , , mdp.39015011012013 112 6 as as RB mdp.39015011012013 112 7 far far RB mdp.39015011012013 112 8 as as IN mdp.39015011012013 112 9 the the DT mdp.39015011012013 112 10 traffic traffic NN mdp.39015011012013 112 11 that that WDT mdp.39015011012013 112 12 you -PRON- PRP mdp.39015011012013 112 13 create create VBP mdp.39015011012013 112 14 there there EX mdp.39015011012013 112 15 is be VBZ mdp.39015011012013 112 16 concerned concern VBN mdp.39015011012013 112 17 , , , mdp.39015011012013 112 18 things thing NNS mdp.39015011012013 112 19 are be VBP mdp.39015011012013 112 20 going go VBG mdp.39015011012013 112 21 on on RP mdp.39015011012013 112 22 as as RB mdp.39015011012013 112 23 usual usual JJ mdp.39015011012013 112 24 . . . mdp.39015011012013 113 1 Mr. Mr. NNP mdp.39015011012013 113 2 SACHS SACHS NNP mdp.39015011012013 113 3 . . . mdp.39015011012013 114 1 Yes yes UH mdp.39015011012013 114 2 , , , mdp.39015011012013 114 3 sir sir NN mdp.39015011012013 114 4 . . . mdp.39015011012013 115 1 I -PRON- PRP mdp.39015011012013 115 2 did do VBD mdp.39015011012013 115 3 mention mention VB mdp.39015011012013 115 4 that that IN mdp.39015011012013 115 5 we -PRON- PRP mdp.39015011012013 115 6 moved move VBD mdp.39015011012013 115 7 from from IN mdp.39015011012013 115 8 the the DT mdp.39015011012013 115 9 normal normal JJ mdp.39015011012013 115 10 ingress ingress NN mdp.39015011012013 115 11 or or CC mdp.39015011012013 115 12 the the DT mdp.39015011012013 115 13 normal normal JJ mdp.39015011012013 115 14 shipping shipping NN mdp.39015011012013 115 15 channel channel NN mdp.39015011012013 115 16 into into IN mdp.39015011012013 115 17 the the DT mdp.39015011012013 115 18 Gulf Gulf NNP mdp.39015011012013 115 19 . . . mdp.39015011012013 116 1 We -PRON- PRP mdp.39015011012013 116 2 did do VBD mdp.39015011012013 116 3 move move VB mdp.39015011012013 116 4 that that DT mdp.39015011012013 116 5 south south RB mdp.39015011012013 116 6 , , , mdp.39015011012013 116 7 but but CC mdp.39015011012013 116 8 on on IN mdp.39015011012013 116 9 leaving leave VBG mdp.39015011012013 116 10 the the DT mdp.39015011012013 116 11 Gulf Gulf NNP mdp.39015011012013 116 12 , , , mdp.39015011012013 116 13 because because IN mdp.39015011012013 116 14 of of IN mdp.39015011012013 116 15 the the DT mdp.39015011012013 116 16 navi- navi- JJ mdp.39015011012013 116 17 gational gational JJ mdp.39015011012013 116 18 issues issue NNS mdp.39015011012013 116 19 involved involve VBN mdp.39015011012013 116 20 with with IN mdp.39015011012013 116 21 a a DT mdp.39015011012013 116 22 laden laden JJ mdp.39015011012013 116 23 vessel vessel NN mdp.39015011012013 116 24 , , , mdp.39015011012013 116 25 we -PRON- PRP mdp.39015011012013 116 26 have have VBP mdp.39015011012013 116 27 had have VBN mdp.39015011012013 116 28 to to TO mdp.39015011012013 116 29 stay stay VB mdp.39015011012013 116 30 with with IN mdp.39015011012013 116 31 the the DT mdp.39015011012013 116 32 existing exist VBG mdp.39015011012013 116 33 exit exit NN mdp.39015011012013 116 34 channel channel NN mdp.39015011012013 116 35 which which WDT mdp.39015011012013 116 36 is be VBZ mdp.39015011012013 116 37 closer close JJR mdp.39015011012013 116 38 certainly certainly RB mdp.39015011012013 116 39 to to IN mdp.39015011012013 116 40 the the DT mdp.39015011012013 116 41 Iranian iranian JJ mdp.39015011012013 116 42 coast coast NN mdp.39015011012013 116 43 than than IN mdp.39015011012013 116 44 is be VBZ mdp.39015011012013 116 45 the the DT mdp.39015011012013 116 46 new new JJ mdp.39015011012013 116 47 route route NN mdp.39015011012013 116 48 that that WDT mdp.39015011012013 116 49 we -PRON- PRP mdp.39015011012013 116 50 are be VBP mdp.39015011012013 116 51 taking take VBG mdp.39015011012013 116 52 coming come VBG mdp.39015011012013 116 53 in in RB mdp.39015011012013 116 54 . . . mdp.39015011012013 117 1 M M NNP mdp.39015011012013 117 2 ; ; : mdp.39015011012013 117 3 Moffett Moffett NNP mdp.39015011012013 117 4 . . . mdp.39015011012013 118 1 Have have VBP mdp.39015011012013 118 2 you -PRON- PRP mdp.39015011012013 118 3 had have VBN mdp.39015011012013 118 4 only only RB mdp.39015011012013 118 5 one one CD mdp.39015011012013 118 6 encounter encounter NN mdp.39015011012013 118 7 with with IN mdp.39015011012013 118 8 the the DT mdp.39015011012013 118 9 Iran- iran- NN mdp.39015011012013 118 10 lans lans RB mdp.39015011012013 118 11 : : : mdp.39015011012013 118 12 Mr. Mr. NNP mdp.39015011012013 118 13 SACHS SACHS NNP mdp.39015011012013 118 14 . . . mdp.39015011012013 119 1 One one CD mdp.39015011012013 119 2 Iranian iranian JJ mdp.39015011012013 119 3 vessel vessel NN mdp.39015011012013 119 4 signaled signal VBD mdp.39015011012013 119 5 one one CD mdp.39015011012013 119 6 of of IN mdp.39015011012013 119 7 our -PRON- PRP$ mdp.39015011012013 119 8 larger large JJR mdp.39015011012013 119 9 vessels vessel NNS mdp.39015011012013 119 10 that that WDT mdp.39015011012013 119 11 they -PRON- PRP mdp.39015011012013 119 12 would would MD mdp.39015011012013 119 13 like like VB mdp.39015011012013 119 14 to to TO mdp.39015011012013 119 15 have have VB mdp.39015011012013 119 16 a a DT mdp.39015011012013 119 17 word word NN mdp.39015011012013 119 18 with with IN mdp.39015011012013 119 19 us -PRON- PRP mdp.39015011012013 119 20 . . . mdp.39015011012013 120 1 They -PRON- PRP mdp.39015011012013 120 2 did do VBD mdp.39015011012013 120 3 ask ask VB mdp.39015011012013 120 4 whence whence IN mdp.39015011012013 120 5 we -PRON- PRP mdp.39015011012013 120 6 were be VBD mdp.39015011012013 120 7 coming come VBG mdp.39015011012013 120 8 and and CC mdp.39015011012013 120 9 whither whither WP mdp.39015011012013 120 10 we -PRON- PRP mdp.39015011012013 120 11 were be VBD mdp.39015011012013 120 12 going go VBG mdp.39015011012013 120 13 . . . mdp.39015011012013 121 1 They -PRON- PRP mdp.39015011012013 121 2 then then RB mdp.39015011012013 121 3 wished wish VBD mdp.39015011012013 121 4 us -PRON- PRP mdp.39015011012013 121 5 God God NNP mdp.39015011012013 121 6 's 's POS mdp.39015011012013 121 7 speed speed NN mdp.39015011012013 121 8 in in IN mdp.39015011012013 121 9 our -PRON- PRP$ mdp.39015011012013 121 10 sailing sailing NN mdp.39015011012013 121 11 . . . mdp.39015011012013 122 1 Mr. Mr. NNP mdp.39015011012013 122 2 Moffett Moffett NNP mdp.39015011012013 122 3 . . . mdp.39015011012013 123 1 That that DT mdp.39015011012013 123 2 is be VBZ mdp.39015011012013 123 3 probably probably RB mdp.39015011012013 123 4 the the DT mdp.39015011012013 123 5 only only JJ mdp.39015011012013 123 6 contact contact NN mdp.39015011012013 123 7 we -PRON- PRP mdp.39015011012013 123 8 have have VBP mdp.39015011012013 123 9 had have VBN mdp.39015011012013 123 10 with with IN mdp.39015011012013 123 11 Iran Iran NNP mdp.39015011012013 123 12 . . . mdp.39015011012013 124 1 Can Can MD mdp.39015011012013 124 2 you -PRON- PRP mdp.39015011012013 124 3 tell tell VB mdp.39015011012013 124 4 us -PRON- PRP mdp.39015011012013 124 5 something something NN mdp.39015011012013 124 6 about about IN mdp.39015011012013 124 7 your -PRON- PRP$ mdp.39015011012013 124 8 own own JJ mdp.39015011012013 124 9 inventory inventory NN mdp.39015011012013 124 10 now now RB mdp.39015011012013 124 11 with with IN mdp.39015011012013 124 12 regard regard NN mdp.39015011012013 124 13 to to IN mdp.39015011012013 124 14 petroleum petroleum NN mdp.39015011012013 124 15 and and CC mdp.39015011012013 124 16 petroleum petroleum NN mdp.39015011012013 124 17 products product NNS mdp.39015011012013 124 18 ? ? . mdp.39015011012013 125 1 How how WRB mdp.39015011012013 125 2 specific specific JJ mdp.39015011012013 125 3 can can MD mdp.39015011012013 125 4 you -PRON- PRP mdp.39015011012013 125 5 be be VB mdp.39015011012013 125 6 with with IN mdp.39015011012013 125 7 us -PRON- PRP mdp.39015011012013 125 8 ? ? . mdp.39015011012013 126 1 Mr. Mr. NNP mdp.39015011012013 126 2 SACHs SACHs NNP mdp.39015011012013 126 3 . . . mdp.39015011012013 127 1 I -PRON- PRP mdp.39015011012013 127 2 can can MD mdp.39015011012013 127 3 say say VB mdp.39015011012013 127 4 that that IN mdp.39015011012013 127 5 we -PRON- PRP mdp.39015011012013 127 6 , , , mdp.39015011012013 127 7 like like IN mdp.39015011012013 127 8 industry industry NN mdp.39015011012013 127 9 , , , mdp.39015011012013 127 10 are be VBP mdp.39015011012013 127 11 in in IN mdp.39015011012013 127 12 a a DT mdp.39015011012013 127 13 fortunate fortunate JJ mdp.39015011012013 127 14 inventory inventory NN mdp.39015011012013 127 15 position position NN mdp.39015011012013 127 16 . . . mdp.39015011012013 128 1 I -PRON- PRP mdp.39015011012013 128 2 can can MD mdp.39015011012013 128 3 also also RB mdp.39015011012013 128 4 say say VB mdp.39015011012013 128 5 that that IN mdp.39015011012013 128 6 we -PRON- PRP mdp.39015011012013 128 7 as as IN mdp.39015011012013 128 8 a a DT mdp.39015011012013 128 9 company company NN mdp.39015011012013 128 10 were be VBD mdp.39015011012013 128 11 hit hit VBN mdp.39015011012013 128 12 unusually unusually RB mdp.39015011012013 128 13 hard hard RB mdp.39015011012013 128 14 by by IN mdp.39015011012013 128 15 the the DT mdp.39015011012013 128 16 situation situation NN mdp.39015011012013 128 17 that that WDT mdp.39015011012013 128 18 occurred occur VBD mdp.39015011012013 128 19 in in IN mdp.39015011012013 128 20 Iran Iran NNP mdp.39015011012013 128 21 last last JJ mdp.39015011012013 128 22 year year NN mdp.39015011012013 128 23 and and CC mdp.39015011012013 128 24 the the DT mdp.39015011012013 128 25 following follow VBG mdp.39015011012013 128 26 events event NNS mdp.39015011012013 128 27 that that WDT mdp.39015011012013 128 28 resulted result VBD mdp.39015011012013 128 29 primarily primarily RB mdp.39015011012013 128 30 from from IN mdp.39015011012013 128 31 the the DT mdp.39015011012013 128 32 dramatic dramatic JJ mdp.39015011012013 128 33 changes change NNS mdp.39015011012013 128 34 in in IN mdp.39015011012013 128 35 the the DT mdp.39015011012013 128 36 Iranian iranian JJ mdp.39015011012013 128 37 crude crude JJ mdp.39015011012013 128 38 situation situation NN mdp.39015011012013 128 39 . . . mdp.39015011012013 129 1 As as IN mdp.39015011012013 129 2 such such JJ mdp.39015011012013 129 3 , , , mdp.39015011012013 129 4 our -PRON- PRP$ mdp.39015011012013 129 5 ability ability NN mdp.39015011012013 129 6 to to TO mdp.39015011012013 129 7 rebound rebound VB mdp.39015011012013 129 8 and and CC mdp.39015011012013 129 9 recover recover VB mdp.39015011012013 129 10 from from IN mdp.39015011012013 129 11 that that DT mdp.39015011012013 129 12 has have VBZ mdp.39015011012013 129 13 been be VBN mdp.39015011012013 129 14 somewhat somewhat RB mdp.39015011012013 129 15 slower slow JJR mdp.39015011012013 129 16 than than IN mdp.39015011012013 129 17 the the DT mdp.39015011012013 129 18 general general JJ mdp.39015011012013 129 19 trend trend NN mdp.39015011012013 129 20 of of IN mdp.39015011012013 129 21 industry industry NN mdp.39015011012013 129 22 overall overall RB mdp.39015011012013 129 23 , , , mdp.39015011012013 129 24 in in IN mdp.39015011012013 129 25 the the DT mdp.39015011012013 129 26 sense sense NN mdp.39015011012013 129 27 of of IN mdp.39015011012013 129 28 inventory inventory NN mdp.39015011012013 129 29 build build NN mdp.39015011012013 129 30 which which WDT mdp.39015011012013 129 31 has have VBZ mdp.39015011012013 129 32 been be VBN mdp.39015011012013 129 33 dramatic dramatic JJ mdp.39015011012013 129 34 since since IN mdp.39015011012013 129 35 the the DT mdp.39015011012013 129 36 second second JJ mdp.39015011012013 129 37 quarter quarter NN mdp.39015011012013 129 38 of of IN mdp.39015011012013 129 39 1979 1979 CD mdp.39015011012013 129 40 . . . mdp.39015011012013 130 1 Nevertheless nevertheless RB mdp.39015011012013 130 2 , , , mdp.39015011012013 130 3 I -PRON- PRP mdp.39015011012013 130 4 can can MD mdp.39015011012013 130 5 say say VB mdp.39015011012013 130 6 today today NN mdp.39015011012013 130 7 that that IN mdp.39015011012013 130 8 I -PRON- PRP mdp.39015011012013 130 9 feel feel VBP mdp.39015011012013 130 10 we -PRON- PRP mdp.39015011012013 130 11 are be VBP mdp.39015011012013 130 12 in in IN mdp.39015011012013 130 13 a a DT mdp.39015011012013 130 14 comfortable comfortable JJ mdp.39015011012013 130 15 position position NN mdp.39015011012013 130 16 . . . mdp.39015011012013 131 1 Mr. Mr. NNP mdp.39015011012013 131 2 Moffett Moffett NNP mdp.39015011012013 131 3 . . . mdp.39015011012013 132 1 Is be VBZ mdp.39015011012013 132 2 it -PRON- PRP mdp.39015011012013 132 3 fair fair JJ mdp.39015011012013 132 4 to to TO mdp.39015011012013 132 5 say say VB mdp.39015011012013 132 6 that that IN mdp.39015011012013 132 7 you -PRON- PRP mdp.39015011012013 132 8 have have VBP mdp.39015011012013 132 9 no no DT mdp.39015011012013 132 10 plans plan NNS mdp.39015011012013 132 11 at at IN mdp.39015011012013 132 12 this this DT mdp.39015011012013 132 13 time time NN mdp.39015011012013 132 14 to to TO mdp.39015011012013 132 15 reduce reduce VB mdp.39015011012013 132 16 refinery refinery NN mdp.39015011012013 132 17 runs run NNS mdp.39015011012013 132 18 in in IN mdp.39015011012013 132 19 order order NN mdp.39015011012013 132 20 to to TO mdp.39015011012013 132 21 , , , mdp.39015011012013 132 22 in in IN mdp.39015011012013 132 23 any any DT mdp.39015011012013 132 24 way way NN mdp.39015011012013 132 25 , , , mdp.39015011012013 132 26 tighten tighten VB mdp.39015011012013 132 27 the the DT mdp.39015011012013 132 28 market- market- NN mdp.39015011012013 132 29 place place NN mdp.39015011012013 132 30 and and CC mdp.39015011012013 132 31 husband husband NN mdp.39015011012013 132 32 your -PRON- PRP$ mdp.39015011012013 132 33 inventory inventory NN mdp.39015011012013 132 34 ? ? . mdp.39015011012013 133 1 18 18 CD mdp.39015011012013 133 2 Mr. Mr. NNP mdp.39015011012013 133 3 SACHS SACHS NNP mdp.39015011012013 133 4 . . . mdp.39015011012013 134 1 I -PRON- PRP mdp.39015011012013 134 2 can can MD mdp.39015011012013 134 3 not not RB mdp.39015011012013 134 4 really really RB mdp.39015011012013 134 5 answer answer VB mdp.39015011012013 134 6 that that DT mdp.39015011012013 134 7 question question NN mdp.39015011012013 134 8 . . . mdp.39015011012013 135 1 I -PRON- PRP mdp.39015011012013 135 2 have have VBP mdp.39015011012013 135 3 no no DT mdp.39015011012013 135 4 knowledge knowledge NN mdp.39015011012013 135 5 of of IN mdp.39015011012013 135 6 it -PRON- PRP mdp.39015011012013 135 7 personally personally RB mdp.39015011012013 135 8 . . . mdp.39015011012013 136 1 Mr. Mr. NNP mdp.39015011012013 136 2 Moffett Moffett NNP mdp.39015011012013 136 3 . . . mdp.39015011012013 137 1 I -PRON- PRP mdp.39015011012013 137 2 have have VBP mdp.39015011012013 137 3 one one CD mdp.39015011012013 137 4 final final JJ mdp.39015011012013 137 5 question question NN mdp.39015011012013 137 6 and and CC mdp.39015011012013 137 7 one one CD mdp.39015011012013 137 8 final final JJ mdp.39015011012013 137 9 point point NN mdp.39015011012013 137 10 . . . mdp.39015011012013 138 1 This this DT mdp.39015011012013 138 2 subcommittee subcommittee NN mdp.39015011012013 138 3 spent spend VBD mdp.39015011012013 138 4 weeks week NNS mdp.39015011012013 138 5 and and CC mdp.39015011012013 138 6 months month NNS mdp.39015011012013 138 7 on on IN mdp.39015011012013 138 8 the the DT mdp.39015011012013 138 9 issue issue NN mdp.39015011012013 138 10 of of IN mdp.39015011012013 138 11 emergency emergency NN mdp.39015011012013 138 12 energy energy NN mdp.39015011012013 138 13 preparedness preparedness NN mdp.39015011012013 138 14 . . . mdp.39015011012013 139 1 I -PRON- PRP mdp.39015011012013 139 2 think think VBP mdp.39015011012013 139 3 every every DT mdp.39015011012013 139 4 member member NN mdp.39015011012013 139 5 of of IN mdp.39015011012013 139 6 this this DT mdp.39015011012013 139 7 subcommittee subcommittee NN mdp.39015011012013 139 8 , , , mdp.39015011012013 139 9 Democratic democratic JJ mdp.39015011012013 139 10 and and CC mdp.39015011012013 139 11 Republican Republican NNP mdp.39015011012013 139 12 , , , mdp.39015011012013 139 13 has have VBZ mdp.39015011012013 139 14 said say VBN mdp.39015011012013 139 15 at at IN mdp.39015011012013 139 16 one one CD mdp.39015011012013 139 17 time time NN mdp.39015011012013 139 18 or or CC mdp.39015011012013 139 19 another another DT mdp.39015011012013 139 20 on on IN mdp.39015011012013 139 21 the the DT mdp.39015011012013 139 22 record record NN mdp.39015011012013 139 23 , , , mdp.39015011012013 139 24 that that IN mdp.39015011012013 139 25 it -PRON- PRP mdp.39015011012013 139 26 looks look VBZ mdp.39015011012013 139 27 as as IN mdp.39015011012013 139 28 though though IN mdp.39015011012013 139 29 a a DT mdp.39015011012013 139 30 turmoil turmoil NN mdp.39015011012013 139 31 in in IN mdp.39015011012013 139 32 the the DT mdp.39015011012013 139 33 Persian Persian NNP mdp.39015011012013 139 34 Gulf Gulf NNP mdp.39015011012013 139 35 is be VBZ mdp.39015011012013 139 36 not not RB mdp.39015011012013 139 37 only only RB mdp.39015011012013 139 38 possible possible JJ mdp.39015011012013 139 39 but but CC mdp.39015011012013 139 40 likely likely JJ mdp.39015011012013 139 41 . . . mdp.39015011012013 140 1 Now now RB mdp.39015011012013 140 2 , , , mdp.39015011012013 140 3 here here RB mdp.39015011012013 140 4 we -PRON- PRP mdp.39015011012013 140 5 are be VBP mdp.39015011012013 140 6 . . . mdp.39015011012013 141 1 We -PRON- PRP mdp.39015011012013 141 2 have have VBP mdp.39015011012013 141 3 turmoil turmoil NN mdp.39015011012013 141 4 in in IN mdp.39015011012013 141 5 the the DT mdp.39015011012013 141 6 Persian Persian NNP mdp.39015011012013 141 7 Gulf Gulf NNP mdp.39015011012013 141 8 . . . mdp.39015011012013 142 1 Would Would MD mdp.39015011012013 142 2 you -PRON- PRP mdp.39015011012013 142 3 say say VB mdp.39015011012013 142 4 that that IN mdp.39015011012013 142 5 , , , mdp.39015011012013 142 6 realiz- realiz- IN mdp.39015011012013 142 7 ing e VBG mdp.39015011012013 142 8 that that IN mdp.39015011012013 142 9 you -PRON- PRP mdp.39015011012013 142 10 are be VBP mdp.39015011012013 142 11 not not RB mdp.39015011012013 142 12 a a DT mdp.39015011012013 142 13 foreign foreign JJ mdp.39015011012013 142 14 affairs affair NNS mdp.39015011012013 142 15 expert expert NN mdp.39015011012013 142 16 per per FW mdp.39015011012013 142 17 se se FW mdp.39015011012013 142 18 , , , mdp.39015011012013 142 19 but but CC mdp.39015011012013 142 20 is be VBZ mdp.39015011012013 142 21 it -PRON- PRP mdp.39015011012013 142 22 your -PRON- PRP$ mdp.39015011012013 142 23 experience experience NN mdp.39015011012013 142 24 , , , mdp.39015011012013 142 25 when when WRB mdp.39015011012013 142 26 you -PRON- PRP mdp.39015011012013 142 27 think think VBP mdp.39015011012013 142 28 about about IN mdp.39015011012013 142 29 the the DT mdp.39015011012013 142 30 Persian Persian NNP mdp.39015011012013 142 31 Gulf Gulf NNP mdp.39015011012013 142 32 and and CC mdp.39015011012013 142 33 the the DT mdp.39015011012013 142 34 stake stake NN mdp.39015011012013 142 35 of of IN mdp.39015011012013 142 36 your -PRON- PRP$ mdp.39015011012013 142 37 company company NN mdp.39015011012013 142 38 there there RB mdp.39015011012013 142 39 , , , mdp.39015011012013 142 40 that that IN mdp.39015011012013 142 41 it -PRON- PRP mdp.39015011012013 142 42 is be VBZ mdp.39015011012013 142 43 safe safe JJ mdp.39015011012013 142 44 to to TO mdp.39015011012013 142 45 assume assume VB mdp.39015011012013 142 46 that that IN mdp.39015011012013 142 47 this this DT mdp.39015011012013 142 48 is be VBZ mdp.39015011012013 142 49 likely likely JJ mdp.39015011012013 142 50 to to TO mdp.39015011012013 142 51 be be VB mdp.39015011012013 142 52 a a DT mdp.39015011012013 142 53 turmoil turmoil NN mdp.39015011012013 142 54 - - HYPH mdp.39015011012013 142 55 filled fill VBN mdp.39015011012013 142 56 region region NN mdp.39015011012013 142 57 for for IN mdp.39015011012013 142 58 some some DT mdp.39015011012013 142 59 time time NN mdp.39015011012013 142 60 , , , mdp.39015011012013 142 61 to to TO mdp.39015011012013 142 62 come come VB mdp.39015011012013 142 63 ? ? . mdp.39015011012013 143 1 Mr. Mr. NNP mdp.39015011012013 143 2 SACHS SACHS NNP mdp.39015011012013 143 3 . . . mdp.39015011012013 144 1 I -PRON- PRP mdp.39015011012013 144 2 think think VBP mdp.39015011012013 144 3 , , , mdp.39015011012013 144 4 as as IN mdp.39015011012013 144 5 an an DT mdp.39015011012013 144 6 individual individual NN mdp.39015011012013 144 7 as as RB mdp.39015011012013 144 8 well well RB mdp.39015011012013 144 9 as as IN mdp.39015011012013 144 10 in in IN mdp.39015011012013 144 11 my -PRON- PRP$ mdp.39015011012013 144 12 statement statement NN mdp.39015011012013 144 13 , , , mdp.39015011012013 144 14 I -PRON- PRP mdp.39015011012013 144 15 tried try VBD mdp.39015011012013 144 16 to to TO mdp.39015011012013 144 17 refer refer VB mdp.39015011012013 144 18 to to IN mdp.39015011012013 144 19 the the DT mdp.39015011012013 144 20 fact fact NN mdp.39015011012013 144 21 that that IN mdp.39015011012013 144 22 , , , mdp.39015011012013 144 23 just just RB mdp.39015011012013 144 24 based base VBN mdp.39015011012013 144 25 on on IN mdp.39015011012013 144 26 recent recent JJ mdp.39015011012013 144 27 history history NN mdp.39015011012013 144 28 , , , mdp.39015011012013 144 29 one one PRP mdp.39015011012013 144 30 would would MD mdp.39015011012013 144 31 have have VB mdp.39015011012013 144 32 to to TO mdp.39015011012013 144 33 have have VB mdp.39015011012013 144 34 some some DT mdp.39015011012013 144 35 concerns concern NNS mdp.39015011012013 144 36 about about IN mdp.39015011012013 144 37 the the DT mdp.39015011012013 144 38 stability stability NN mdp.39015011012013 144 39 of of IN mdp.39015011012013 144 40 that that DT mdp.39015011012013 144 41 area area NN mdp.39015011012013 144 42 and and CC mdp.39015011012013 144 43 that that DT mdp.39015011012013 144 44 , , , mdp.39015011012013 144 45 I -PRON- PRP mdp.39015011012013 144 46 have have VBP mdp.39015011012013 144 47 to to TO mdp.39015011012013 144 48 venture venture VB mdp.39015011012013 144 49 to to TO mdp.39015011012013 144 50 say say VB mdp.39015011012013 144 51 , , , mdp.39015011012013 144 52 that that IN mdp.39015011012013 144 53 I -PRON- PRP mdp.39015011012013 144 54 think think VBP mdp.39015011012013 144 55 I -PRON- PRP mdp.39015011012013 144 56 would would MD mdp.39015011012013 144 57 like like VB mdp.39015011012013 144 58 to to TO mdp.39015011012013 144 59 see see VB mdp.39015011012013 144 60 the the DT mdp.39015011012013 144 61 situation situation NN mdp.39015011012013 144 62 either either CC mdp.39015011012013 144 63 resolved resolve VBN mdp.39015011012013 144 64 or or CC mdp.39015011012013 144 65 a a DT mdp.39015011012013 144 66 little little JJ mdp.39015011012013 144 67 clearer clear JJR mdp.39015011012013 144 68 in in IN mdp.39015011012013 144 69 terms term NNS mdp.39015011012013 144 70 of of IN mdp.39015011012013 144 71 calm calm NN mdp.39015011012013 144 72 and and CC mdp.39015011012013 144 73 perspective perspective NN mdp.39015011012013 144 74 on on IN mdp.39015011012013 144 75 calm calm NN mdp.39015011012013 144 76 , , , mdp.39015011012013 144 77 or or CC mdp.39015011012013 144 78 see see VB mdp.39015011012013 144 79 the the DT mdp.39015011012013 144 80 oil oil NN mdp.39015011012013 144 81 elsewhere elsewhere RB mdp.39015011012013 144 82 . . . mdp.39015011012013 145 1 Mr. Mr. NNP mdp.39015011012013 145 2 MoffeTT MoffeTT NNP mdp.39015011012013 145 3 . . . mdp.39015011012013 146 1 Thank thank VBP mdp.39015011012013 146 2 you -PRON- PRP mdp.39015011012013 146 3 very very RB mdp.39015011012013 146 4 much much RB mdp.39015011012013 146 5 . . . mdp.39015011012013 147 1 Are be VBP mdp.39015011012013 147 2 there there EX mdp.39015011012013 147 3 any any DT mdp.39015011012013 147 4 additional additional JJ mdp.39015011012013 147 5 questions question NNS mdp.39015011012013 147 6 for for IN mdp.39015011012013 147 7 this this DT mdp.39015011012013 147 8 witness witness NN mdp.39015011012013 147 9 ? ? . mdp.39015011012013 148 1 No no DT mdp.39015011012013 148 2 response response NN mdp.39015011012013 148 3 . . . mdp.39015011012013 149 1 Thank thank VBP mdp.39015011012013 149 2 you -PRON- PRP mdp.39015011012013 149 3 very very RB mdp.39015011012013 149 4 much much RB mdp.39015011012013 149 5 for for IN mdp.39015011012013 149 6 your -PRON- PRP$ mdp.39015011012013 149 7 cooperation cooperation NN mdp.39015011012013 149 8 . . . mdp.39015011012013 150 1 We -PRON- PRP mdp.39015011012013 150 2 appreciate appreciate VBP mdp.39015011012013 150 3 it -PRON- PRP mdp.39015011012013 150 4 . . . mdp.39015011012013 151 1 Our -PRON- PRP$ mdp.39015011012013 151 2 next next JJ mdp.39015011012013 151 3 witness witness NN mdp.39015011012013 151 4 is be VBZ mdp.39015011012013 151 5 Mr. Mr. NNP mdp.39015011012013 151 6 C. C. NNP mdp.39015011012013 151 7 L. L. NNP mdp.39015011012013 151 8 Campbell Campbell NNP mdp.39015011012013 151 9 , , , mdp.39015011012013 151 10 senior senior JJ mdp.39015011012013 151 11 vice vice NN mdp.39015011012013 151 12 president president NN mdp.39015011012013 151 13 of of IN mdp.39015011012013 151 14 Gulf Gulf NNP mdp.39015011012013 151 15 Oil Oil NNP mdp.39015011012013 151 16 Trading Trading NNP mdp.39015011012013 151 17 and and CC mdp.39015011012013 151 18 Transportation Transportation NNP mdp.39015011012013 151 19 , , , mdp.39015011012013 151 20 who who WP mdp.39015011012013 151 21 is be VBZ mdp.39015011012013 151 22 accompanied accompany VBN mdp.39015011012013 151 23 I -PRON- PRP mdp.39015011012013 151 24 believe believe VBP mdp.39015011012013 151 25 by by IN mdp.39015011012013 151 26 P. P. NNP mdp.39015011012013 151 27 E. E. NNP mdp.39015011012013 151 28 Luitwieler Luitwieler NNP mdp.39015011012013 151 29 , , , mdp.39015011012013 151 30 vice vice NN mdp.39015011012013 151 31 president president NN mdp.39015011012013 151 32 for for IN mdp.39015011012013 151 33 crude crude JJ mdp.39015011012013 151 34 oil oil NN mdp.39015011012013 151 35 , , , mdp.39015011012013 151 36 Gulf Gulf NNP mdp.39015011012013 151 37 Oil Oil NNP mdp.39015011012013 151 38 Refining Refining NNP mdp.39015011012013 151 39 and and CC mdp.39015011012013 151 40 Marketing Marketing NNP mdp.39015011012013 151 41 . . . mdp.39015011012013 152 1 Gentlemen gentleman NNS mdp.39015011012013 152 2 , , , mdp.39015011012013 152 3 will will MD mdp.39015011012013 152 4 you -PRON- PRP mdp.39015011012013 152 5 please please UH mdp.39015011012013 152 6 stand stand VB mdp.39015011012013 152 7 and and CC mdp.39015011012013 152 8 raise raise VB mdp.39015011012013 152 9 your -PRON- PRP$ mdp.39015011012013 152 10 right right JJ mdp.39015011012013 152 11 hands hand NNS mdp.39015011012013 152 12 . . . mdp.39015011012013 153 1 Do do VBP mdp.39015011012013 153 2 you -PRON- PRP mdp.39015011012013 153 3 swear swear VB mdp.39015011012013 153 4 to to TO mdp.39015011012013 153 5 tell tell VB mdp.39015011012013 153 6 the the DT mdp.39015011012013 153 7 truth truth NN mdp.39015011012013 153 8 , , , mdp.39015011012013 153 9 the the DT mdp.39015011012013 153 10 whole whole JJ mdp.39015011012013 153 11 truth truth NN mdp.39015011012013 153 12 , , , mdp.39015011012013 153 13 and and CC mdp.39015011012013 153 14 nothing nothing NN mdp.39015011012013 153 15 but but IN mdp.39015011012013 153 16 the the DT mdp.39015011012013 153 17 truth truth NN mdp.39015011012013 153 18 , , , mdp.39015011012013 153 19 so so RB mdp.39015011012013 153 20 help help VB mdp.39015011012013 153 21 you -PRON- PRP mdp.39015011012013 153 22 God God NNP mdp.39015011012013 153 23 ? ? . mdp.39015011012013 154 1 Mr. Mr. NNP mdp.39015011012013 154 2 CAMPBELL CAMPBELL NNP mdp.39015011012013 154 3 . . . mdp.39015011012013 155 1 I -PRON- PRP mdp.39015011012013 155 2 do do VBP mdp.39015011012013 155 3 . . . mdp.39015011012013 156 1 Mr. Mr. NNP mdp.39015011012013 156 2 LUITwiFLER LUITwiFLER NNP mdp.39015011012013 156 3 . . . mdp.39015011012013 157 1 I -PRON- PRP mdp.39015011012013 157 2 do do VBP mdp.39015011012013 157 3 . . . mdp.39015011012013 158 1 Mr. Mr. NNP mdp.39015011012013 158 2 Moffett Moffett NNP mdp.39015011012013 158 3 . . . mdp.39015011012013 159 1 Thank thank VBP mdp.39015011012013 159 2 you -PRON- PRP mdp.39015011012013 159 3 for for IN mdp.39015011012013 159 4 being be VBG mdp.39015011012013 159 5 with with IN mdp.39015011012013 159 6 us -PRON- PRP mdp.39015011012013 159 7 . . . mdp.39015011012013 160 1 It -PRON- PRP mdp.39015011012013 160 2 is be VBZ mdp.39015011012013 160 3 my -PRON- PRP$ mdp.39015011012013 160 4 understanding understanding NN mdp.39015011012013 160 5 that that WDT mdp.39015011012013 160 6 you -PRON- PRP mdp.39015011012013 160 7 do do VBP mdp.39015011012013 160 8 have have VB mdp.39015011012013 160 9 a a DT mdp.39015011012013 160 10 presentation presentation NN mdp.39015011012013 160 11 to to TO mdp.39015011012013 160 12 make make VB mdp.39015011012013 160 13 with with IN mdp.39015011012013 160 14 the the DT mdp.39015011012013 160 15 slide slide NN mdp.39015011012013 160 16 projector projector NN mdp.39015011012013 160 17 . . . mdp.39015011012013 161 1 Is be VBZ mdp.39015011012013 161 2 that that DT mdp.39015011012013 161 3 correct correct JJ mdp.39015011012013 161 4 ? ? . mdp.39015011012013 162 1 STATEMENT statement NN mdp.39015011012013 162 2 OF of IN mdp.39015011012013 162 3 C. C. NNP mdp.39015011012013 162 4 L. L. NNP mdp.39015011012013 162 5 CAMPBELL CAMPBELL NNP mdp.39015011012013 162 6 , , , mdp.39015011012013 162 7 SENIOR senior JJ mdp.39015011012013 162 8 VICE vice NN mdp.39015011012013 162 9 PRESIDENT PRESIDENT NNP mdp.39015011012013 162 10 , , , mdp.39015011012013 162 11 GULF GULF NNP mdp.39015011012013 162 12 OIL oil NN mdp.39015011012013 162 13 TRADING trading NN mdp.39015011012013 162 14 AND and CC mdp.39015011012013 162 15 THANSPORTATION thansportation NN mdp.39015011012013 162 16 : : : mdp.39015011012013 162 17 ACCOMPANIED accompany VBN mdp.39015011012013 162 18 BY by IN mdp.39015011012013 162 19 PETE PETE NNP mdp.39015011012013 162 20 P. P. NNP mdp.39015011012013 162 21 E. E. NNP mdp.39015011012013 162 22 LUITWIELER LUITWIELER NNP mdp.39015011012013 162 23 , , , mdp.39015011012013 162 24 VICE vice NN mdp.39015011012013 162 25 PRESIDENT PRESIDENT NNP mdp.39015011012013 162 26 FOR for IN mdp.39015011012013 162 27 CRUDE crude JJ mdp.39015011012013 162 28 OIL oil NN mdp.39015011012013 162 29 , , , mdp.39015011012013 162 30 GULF GULF NNP mdp.39015011012013 162 31 OIL oil NN mdp.39015011012013 162 32 REFINING refining NN mdp.39015011012013 162 33 AND and CC mdp.39015011012013 162 34 MARKETING marketing NN mdp.39015011012013 162 35 ; ; : mdp.39015011012013 162 36 AND and CC mdp.39015011012013 162 37 ROBERT ROBERT NNP mdp.39015011012013 162 38 HILL HILL NNP mdp.39015011012013 162 39 , , , mdp.39015011012013 162 40 GULF GULF NNP mdp.39015011012013 162 41 OIL oil NN mdp.39015011012013 162 42 TRADING trading NN mdp.39015011012013 162 43 AND and CC mdp.39015011012013 162 44 TRANSPORTATION TRANSPORTATION NNP mdp.39015011012013 162 45 Mr. Mr. NNP mdp.39015011012013 162 46 CAMPBELL CAMPBELL NNP mdp.39015011012013 162 47 . . . mdp.39015011012013 163 1 That that DT mdp.39015011012013 163 2 is be VBZ mdp.39015011012013 163 3 right right JJ mdp.39015011012013 163 4 , , , mdp.39015011012013 163 5 Mr. Mr. NNP mdp.39015011012013 163 6 Chairman Chairman NNP mdp.39015011012013 163 7 . . . mdp.39015011012013 164 1 We -PRON- PRP mdp.39015011012013 164 2 have have VBP mdp.39015011012013 164 3 a a DT mdp.39015011012013 164 4 paper paper NN mdp.39015011012013 164 5 written write VBN mdp.39015011012013 164 6 for for IN mdp.39015011012013 164 7 you -PRON- PRP mdp.39015011012013 164 8 , , , mdp.39015011012013 164 9 but but CC mdp.39015011012013 164 10 I -PRON- PRP mdp.39015011012013 164 11 think think VBP mdp.39015011012013 164 12 that that IN mdp.39015011012013 164 13 we -PRON- PRP mdp.39015011012013 164 14 can can MD mdp.39015011012013 164 15 do do VB mdp.39015011012013 164 16 this this DT mdp.39015011012013 164 17 with with IN mdp.39015011012013 164 18 a a DT mdp.39015011012013 164 19 little little JJ mdp.39015011012013 164 20 bit bit NN mdp.39015011012013 164 21 of of IN mdp.39015011012013 164 22 verbalization verbalization NN mdp.39015011012013 164 23 on on IN mdp.39015011012013 164 24 the the DT mdp.39015011012013 164 25 slides slide NNS mdp.39015011012013 164 26 . . . mdp.39015011012013 165 1 It -PRON- PRP mdp.39015011012013 165 2 basically basically RB mdp.39015011012013 165 3 follows follow VBZ mdp.39015011012013 165 4 the the DT mdp.39015011012013 165 5 text text NN mdp.39015011012013 165 6 . . . mdp.39015011012013 166 1 We -PRON- PRP mdp.39015011012013 166 2 have have VBP mdp.39015011012013 166 3 a a DT mdp.39015011012013 166 4 handout handout NN mdp.39015011012013 166 5 for for IN mdp.39015011012013 166 6 you -PRON- PRP mdp.39015011012013 166 7 at at IN mdp.39015011012013 166 8 the the DT mdp.39015011012013 166 9 end end NN mdp.39015011012013 166 10 about about IN mdp.39015011012013 166 11 some some DT mdp.39015011012013 166 12 of of IN mdp.39015011012013 166 13 the the DT mdp.39015011012013 166 14 current current JJ mdp.39015011012013 166 15 inventories inventory NNS mdp.39015011012013 166 16 , , , mdp.39015011012013 166 17 which which WDT mdp.39015011012013 166 18 we -PRON- PRP mdp.39015011012013 166 19 were be VBD mdp.39015011012013 166 20 not not RB mdp.39015011012013 166 21 able able JJ mdp.39015011012013 166 22 to to TO mdp.39015011012013 166 23 get get VB mdp.39015011012013 166 24 on on IN mdp.39015011012013 166 25 the the DT mdp.39015011012013 166 26 slides slide NNS mdp.39015011012013 166 27 , , , mdp.39015011012013 166 28 and and CC mdp.39015011012013 166 29 then then RB mdp.39015011012013 166 30 we -PRON- PRP mdp.39015011012013 166 31 can can MD mdp.39015011012013 166 32 talk talk VB mdp.39015011012013 166 33 after after IN mdp.39015011012013 166 34 that that DT mdp.39015011012013 166 35 . . . mdp.39015011012013 167 1 Mr. Mr. NNP mdp.39015011012013 167 2 MoEFETT MoEFETT NNP mdp.39015011012013 167 3 . . . mdp.39015011012013 168 1 Let let VB mdp.39015011012013 168 2 me -PRON- PRP mdp.39015011012013 168 3 say say VB mdp.39015011012013 168 4 that that IN mdp.39015011012013 168 5 your -PRON- PRP$ mdp.39015011012013 168 6 statement statement NN mdp.39015011012013 168 7 , , , mdp.39015011012013 168 8 for for IN mdp.39015011012013 168 9 which which WDT mdp.39015011012013 168 10 we -PRON- PRP mdp.39015011012013 168 11 are be VBP mdp.39015011012013 168 12 very very RB mdp.39015011012013 168 13 appreciative appreciative JJ mdp.39015011012013 168 14 since since IN mdp.39015011012013 168 15 you -PRON- PRP mdp.39015011012013 168 16 gave give VBD mdp.39015011012013 168 17 it -PRON- PRP mdp.39015011012013 168 18 on on IN mdp.39015011012013 168 19 such such JJ mdp.39015011012013 168 20 short short JJ mdp.39015011012013 168 21 notice notice NN mdp.39015011012013 168 22 , , , mdp.39015011012013 168 23 will will MD mdp.39015011012013 168 24 be be VB mdp.39015011012013 168 25 included include VBN mdp.39015011012013 168 26 as as IN mdp.39015011012013 168 27 part part NN mdp.39015011012013 168 28 of of IN mdp.39015011012013 168 29 the the DT mdp.39015011012013 168 30 record record NN mdp.39015011012013 168 31 . . . mdp.39015011012013 169 1 You -PRON- PRP mdp.39015011012013 169 2 may may MD mdp.39015011012013 169 3 proceed proceed VB mdp.39015011012013 169 4 in in IN mdp.39015011012013 169 5 whatever whatever WDT mdp.39015011012013 169 6 fashion fashion NN mdp.39015011012013 169 7 you -PRON- PRP mdp.39015011012013 169 8 desire desire VBP mdp.39015011012013 169 9 and and CC mdp.39015011012013 169 10 then then RB mdp.39015011012013 169 11 we -PRON- PRP mdp.39015011012013 169 12 will will MD mdp.39015011012013 169 13 proceed proceed VB mdp.39015011012013 169 14 to to IN mdp.39015011012013 169 15 questions question NNS mdp.39015011012013 169 16 by by IN mdp.39015011012013 169 17 the the DT mdp.39015011012013 169 18 members member NNS mdp.39015011012013 169 19 . . . mdp.39015011012013 170 1 While while IN mdp.39015011012013 170 2 you -PRON- PRP mdp.39015011012013 170 3 are be VBP mdp.39015011012013 170 4 getting get VBG mdp.39015011012013 170 5 that that DT mdp.39015011012013 170 6 set set VBN mdp.39015011012013 170 7 up up RP mdp.39015011012013 170 8 , , , mdp.39015011012013 170 9 let let VB mdp.39015011012013 170 10 me -PRON- PRP mdp.39015011012013 170 11 say say VB mdp.39015011012013 170 12 that that IN mdp.39015011012013 170 13 we -PRON- PRP mdp.39015011012013 170 14 have have VBP mdp.39015011012013 170 15 had have VBN mdp.39015011012013 170 16 witness witness NN mdp.39015011012013 170 17 from from IN mdp.39015011012013 170 18 Gulf Gulf NNP mdp.39015011012013 170 19 on on IN mdp.39015011012013 170 20 several several JJ mdp.39015011012013 170 21 occasions occasion NNS mdp.39015011012013 170 22 and and CC mdp.39015011012013 170 23 we -PRON- PRP mdp.39015011012013 170 24 have have VBP mdp.39015011012013 170 25 been be VBN mdp.39015011012013 170 26 very very RB mdp.39015011012013 170 27 27 27 CD mdp.39015011012013 170 28 THESE these DT mdp.39015011012013 170 29 ARE are VBP mdp.39015011012013 170 30 DIFF diff RB mdp.39015011012013 170 31 icult icult NN mdp.39015011012013 170 32 questions question NNS mdp.39015011012013 170 33 of of IN mdp.39015011012013 170 34 GREAT great JJ mdp.39015011012013 170 35 complexity complexity NN mdp.39015011012013 170 36 , , , mdp.39015011012013 170 37 AND and CC mdp.39015011012013 170 38 I -PRON- PRP mdp.39015011012013 170 39 BELIEVE believe VBP mdp.39015011012013 170 40 IF if IN mdp.39015011012013 170 41 THEY they PRP mdp.39015011012013 170 42 ARE are VBP mdp.39015011012013 170 43 TO to TO mdp.39015011012013 170 44 BE be VB mdp.39015011012013 170 45 ANSWERED answer VBN mdp.39015011012013 170 46 MEANINGFULLY meaningfully RB mdp.39015011012013 170 47 , , , mdp.39015011012013 170 48 THEY they PRP mdp.39015011012013 170 49 MUST MUST MD mdp.39015011012013 170 50 BE be VB mdp.39015011012013 170 51 CONsidered consider VBN mdp.39015011012013 170 52 in in IN mdp.39015011012013 170 53 THE the DT mdp.39015011012013 170 54 CONTExT CONTExT NNP mdp.39015011012013 170 55 OF of IN mdp.39015011012013 170 56 ALL all DT mdp.39015011012013 170 57 THAT that WDT mdp.39015011012013 170 58 HAS have VBZ mdp.39015011012013 170 59 BEEN be VBN mdp.39015011012013 170 60 HAPPENING happen VBG mdp.39015011012013 170 61 IN in IN mdp.39015011012013 170 62 THE the DT mdp.39015011012013 170 63 INTERNATIONAL INTERNATIONAL NNP mdp.39015011012013 170 64 OIL oil NN mdp.39015011012013 170 65 TRADE trade NN mdp.39015011012013 170 66 DURING during IN mdp.39015011012013 170 67 RECENT recent JJ mdp.39015011012013 170 68 YEARS year NNS mdp.39015011012013 170 69 , , , mdp.39015011012013 170 70 THUs THUs NNP mdp.39015011012013 170 71 , , , mdp.39015011012013 170 72 WITH with IN mdp.39015011012013 170 73 YOUR your PRP$ mdp.39015011012013 170 74 PERMission permission NN mdp.39015011012013 170 75 -- -- : mdp.39015011012013 170 76 FOR for IN mdp.39015011012013 170 77 I -PRON- PRP mdp.39015011012013 170 78 RECOGNIZE recognize VBP mdp.39015011012013 170 79 THAT that IN mdp.39015011012013 170 80 Much much JJ mdp.39015011012013 170 81 of of IN mdp.39015011012013 170 82 WHAT what WP mdp.39015011012013 170 83 I -PRON- PRP mdp.39015011012013 170 84 will will MD mdp.39015011012013 170 85 SAY say VB mdp.39015011012013 170 86 WILL WILL MD mdp.39015011012013 170 87 NoT not RB mdp.39015011012013 170 88 BE be VB mdp.39015011012013 170 89 NEWs news NN mdp.39015011012013 170 90 To to IN mdp.39015011012013 170 91 You -PRON- PRP mdp.39015011012013 170 92 -- -- : mdp.39015011012013 170 93 I -PRON- PRP mdp.39015011012013 170 94 SHOULD SHOULD MD mdp.39015011012013 170 95 LIKE like VB mdp.39015011012013 170 96 TO to TO mdp.39015011012013 170 97 REVIEW review VB mdp.39015011012013 170 98 SOME some DT mdp.39015011012013 170 99 OF of IN mdp.39015011012013 170 100 THE the DT mdp.39015011012013 170 101 CHANGES change NNS mdp.39015011012013 170 102 WHICH which WDT mdp.39015011012013 170 103 HAVE have VBP mdp.39015011012013 170 104 OCCURRED occur VBN mdp.39015011012013 170 105 , , , mdp.39015011012013 170 106 AFTER after IN mdp.39015011012013 170 107 THAT that DT mdp.39015011012013 170 108 , , , mdp.39015011012013 170 109 I -PRON- PRP mdp.39015011012013 170 110 PROPose PROPose VBD mdp.39015011012013 170 111 To to IN mdp.39015011012013 170 112 ADDREss ADDREss NNP mdp.39015011012013 170 113 Both both CC mdp.39015011012013 170 114 PoteNTIAL PoteNTIAL NNP mdp.39015011012013 170 115 LONG long JJ mdp.39015011012013 170 116 AND and CC mdp.39015011012013 170 117 SHORT short JJ mdp.39015011012013 170 118 TERM term NN mdp.39015011012013 170 119 EFFECTS effects NN mdp.39015011012013 170 120 OF of IN mdp.39015011012013 170 121 THE the DT mdp.39015011012013 170 122 CURRENT current JJ mdp.39015011012013 170 123 FIGHTING fighting NN mdp.39015011012013 170 124 , , , mdp.39015011012013 170 125 THEN then RB mdp.39015011012013 170 126 CONCLUDE conclude VB mdp.39015011012013 170 127 WITH with IN mdp.39015011012013 170 128 SOME some DT mdp.39015011012013 170 129 REMARKS remark NNS mdp.39015011012013 170 130 ABOUT about IN mdp.39015011012013 170 131 STEPs step NNS mdp.39015011012013 170 132 WHICH which WDT mdp.39015011012013 170 133 THE the DT mdp.39015011012013 170 134 UNITED UNITED NNP mdp.39015011012013 170 135 STATES STATES NNP mdp.39015011012013 170 136 MUST MUST MD mdp.39015011012013 170 137 BEGIN begin VB mdp.39015011012013 170 138 TAKING take VBG mdp.39015011012013 170 139 SOON soon RB mdp.39015011012013 170 140 , , , mdp.39015011012013 170 141 To to TO mdp.39015011012013 170 142 SET set VB mdp.39015011012013 170 143 THESE these DT mdp.39015011012013 170 144 QUESTIONS question NNS mdp.39015011012013 170 145 IN in IN mdp.39015011012013 170 146 PERSPECTIVE perspective NN mdp.39015011012013 170 147 , , , mdp.39015011012013 170 148 THEN then RB mdp.39015011012013 170 149 , , , mdp.39015011012013 170 150 Let let VB mdp.39015011012013 170 151 's -PRON- PRP mdp.39015011012013 170 152 BEGIN begin VB mdp.39015011012013 170 153 BY by IN mdp.39015011012013 170 154 REVIEWING review VBG mdp.39015011012013 170 155 THOSE those DT mdp.39015011012013 170 156 RECENT recent JJ mdp.39015011012013 170 157 EVENTS event NNS mdp.39015011012013 170 158 WHICH which WDT mdp.39015011012013 170 159 HAVE have VBP mdp.39015011012013 170 160 SO so RB mdp.39015011012013 170 161 PROFOUNDLY profoundly RB mdp.39015011012013 170 162 ALTERED alter VBN mdp.39015011012013 170 163 THE the DT mdp.39015011012013 170 164 RELATIONSHIP relationship NN mdp.39015011012013 170 165 BETWEEN between IN mdp.39015011012013 170 166 THE the DT mdp.39015011012013 170 167 U.S. U.S. NNP mdp.39015011012013 170 168 AND and CC mdp.39015011012013 170 169 OTHER other JJ mdp.39015011012013 170 170 INDUSTRIALIZED INDUSTRIALIZED NNS mdp.39015011012013 170 171 CONSUMING consuming JJ mdp.39015011012013 170 172 COUNTRIES country NNS mdp.39015011012013 170 173 , , , mdp.39015011012013 170 174 ON on IN mdp.39015011012013 170 175 THE the DT mdp.39015011012013 170 176 ONE one CD mdp.39015011012013 170 177 HAND hand NN mdp.39015011012013 170 178 , , , mdp.39015011012013 170 179 AND and CC mdp.39015011012013 170 180 THE the DT mdp.39015011012013 170 181 OIL oil NN mdp.39015011012013 170 182 - - HYPH mdp.39015011012013 170 183 PRODUCING produce VBG mdp.39015011012013 170 184 COUNTRIES country NNS mdp.39015011012013 170 185 , , , mdp.39015011012013 170 186 ON on IN mdp.39015011012013 170 187 THE the DT mdp.39015011012013 170 188 OTHER other JJ mdp.39015011012013 170 189 HAND hand NN mdp.39015011012013 170 190 , , , mdp.39015011012013 170 191 FoR for IN mdp.39015011012013 170 192 Most Most JJS mdp.39015011012013 170 193 OF of IN mdp.39015011012013 170 194 THis this DT mdp.39015011012013 170 195 century century NN mdp.39015011012013 170 196 , , , mdp.39015011012013 170 197 THE the DT mdp.39015011012013 170 198 U.S. U.S. NNP mdp.39015011012013 171 1 ENJOYED enjoy VBN mdp.39015011012013 171 2 THE the DT mdp.39015011012013 171 3 OPTION option NN mdp.39015011012013 171 4 OF of IN mdp.39015011012013 171 5 EITHER either DT mdp.39015011012013 171 6 IMPORT IMPORT NNP mdp.39015011012013 171 7 ING ING NNP mdp.39015011012013 171 8 CRUDE crude JJ mdp.39015011012013 171 9 O o NN mdp.39015011012013 171 10 IL IL NNP mdp.39015011012013 171 11 OR or CC mdp.39015011012013 171 12 Using use VBG mdp.39015011012013 171 13 DOMESTIC domestic JJ mdp.39015011012013 171 14 PRODUCTION production NN mdp.39015011012013 171 15 , , , mdp.39015011012013 171 16 WE we PRP mdp.39015011012013 171 17 WERE be VBD mdp.39015011012013 171 18 NOT not RB mdp.39015011012013 171 19 DEPENDENT dependent JJ mdp.39015011012013 171 20 ON on IN mdp.39015011012013 171 21 IMPORTED import VBN mdp.39015011012013 171 22 oil oil NN mdp.39015011012013 171 23 . . . mdp.39015011012013 172 1 31 31 CD mdp.39015011012013 172 2 Chart chart NN mdp.39015011012013 172 3 º º NN mdp.39015011012013 172 4 Chart chart NN mdp.39015011012013 172 5 # # NN mdp.39015011012013 172 6 5 5 CD mdp.39015011012013 172 7 SINCE since IN mdp.39015011012013 172 8 THAT that DT mdp.39015011012013 172 9 PERIOD period NN mdp.39015011012013 172 10 of of IN mdp.39015011012013 172 11 TIME time NN mdp.39015011012013 172 12 , , , mdp.39015011012013 172 13 OPEC OPEC NNP mdp.39015011012013 172 14 PRODUCTION production NN mdp.39015011012013 172 15 HAs have VBZ mdp.39015011012013 172 16 DROPPED drop VBN mdp.39015011012013 172 17 To to IN mdp.39015011012013 172 18 AN an DT mdp.39015011012013 172 19 ESTIMATED estimate VBN mdp.39015011012013 172 20 27.5 27.5 CD mdp.39015011012013 172 21 MILLION million CD mdp.39015011012013 172 22 BARRELS barrel NNS mdp.39015011012013 172 23 PER per IN mdp.39015011012013 172 24 DAY day NN mdp.39015011012013 172 25 , , , mdp.39015011012013 172 26 of of IN mdp.39015011012013 172 27 which which WDT mdp.39015011012013 172 28 LEss LEss NNP mdp.39015011012013 172 29 THAN than IN mdp.39015011012013 172 30 HALF half NN mdp.39015011012013 172 31 OR or CC mdp.39015011012013 172 32 12.5 12.5 CD mdp.39015011012013 172 33 MILLION million CD mdp.39015011012013 172 34 BARRELs barrel NNS mdp.39015011012013 172 35 PER per IN mdp.39015011012013 172 36 DAY DAY NNP mdp.39015011012013 172 37 is be VBZ mdp.39015011012013 172 38 AvAILABLE AvAILABLE NNP mdp.39015011012013 172 39 To to IN mdp.39015011012013 172 40 The the DT mdp.39015011012013 172 41 MAJOR major JJ mdp.39015011012013 172 42 INTERNATIONAL international JJ mdp.39015011012013 172 43 OiL oil NN mdp.39015011012013 172 44 COMPANIES company NNS mdp.39015011012013 172 45 , , , mdp.39015011012013 172 46 BY by IN mdp.39015011012013 172 47 THE the DT mdp.39015011012013 172 48 END end NN mdp.39015011012013 172 49 of of IN mdp.39015011012013 172 50 THE the DT mdp.39015011012013 172 51 1973 1973 CD mdp.39015011012013 172 52 conFLicT conflict NN mdp.39015011012013 172 53 , , , mdp.39015011012013 172 54 Prices price NNS mdp.39015011012013 172 55 HAD have VBD mdp.39015011012013 172 56 BEGUN begin VBN mdp.39015011012013 172 57 To to TO mdp.39015011012013 172 58 RISE rise VB mdp.39015011012013 172 59 SHARPLY sharply RB mdp.39015011012013 172 60 AND and CC mdp.39015011012013 172 61 THE the DT mdp.39015011012013 172 62 INDUSTRIAL INDUSTRIAL NNP mdp.39015011012013 172 63 NATIONS NATIONS NNPS mdp.39015011012013 172 64 HAD have VBD mdp.39015011012013 172 65 LEARNED learn VBN mdp.39015011012013 172 66 WHAT what WDT mdp.39015011012013 172 67 A a DT mdp.39015011012013 172 68 DISRUPTION disruption NN mdp.39015011012013 172 69 IN in IN mdp.39015011012013 172 70 oil oil NN mdp.39015011012013 172 71 IMPORTS import NNS mdp.39015011012013 172 72 FROM from IN mdp.39015011012013 172 73 OPEC OPEC NNP mdp.39015011012013 172 74 countries country NNS mdp.39015011012013 172 75 could could MD mdp.39015011012013 172 76 MEAN mean VB mdp.39015011012013 172 77 , , , mdp.39015011012013 172 78 IN in IN mdp.39015011012013 172 79 ADDITION addition NN mdp.39015011012013 172 80 To to IN mdp.39015011012013 172 81 RAIsiNG RAIsiNG , mdp.39015011012013 172 82 Prices price NNS mdp.39015011012013 172 83 , , , mdp.39015011012013 172 84 some some DT mdp.39015011012013 172 85 OPEC OPEC NNP mdp.39015011012013 172 86 MEMBERs member NNS mdp.39015011012013 172 87 ATTEMPTED attempt VBD mdp.39015011012013 172 88 DURING during IN mdp.39015011012013 172 89 THE the DT mdp.39015011012013 172 90 1973–74 1973–74 CD mdp.39015011012013 172 91 PERIoD period CD mdp.39015011012013 172 92 To to IN mdp.39015011012013 172 93 speci speci NNP mdp.39015011012013 172 94 FY FY NNP mdp.39015011012013 172 95 DESTINATIONs destination NNS mdp.39015011012013 172 96 FOR for IN mdp.39015011012013 172 97 THE the DT mdp.39015011012013 172 98 OIL oil NN mdp.39015011012013 172 99 THROUGH through IN mdp.39015011012013 172 100 AN an DT mdp.39015011012013 172 101 EMBARGO embargo NN mdp.39015011012013 172 102 AGAINST against IN mdp.39015011012013 172 103 VARIOUS various JJ mdp.39015011012013 172 104 CONSUMING consuming JJ mdp.39015011012013 172 105 countries country NNS mdp.39015011012013 172 106 , , , mdp.39015011012013 172 107 BUT but CC mdp.39015011012013 172 108 AT at IN mdp.39015011012013 172 109 THAT that DT mdp.39015011012013 172 110 TIME time NN mdp.39015011012013 172 111 THE the DT mdp.39015011012013 172 112 OiL oil NN mdp.39015011012013 172 113 companies company NNS mdp.39015011012013 172 114 STILL still RB mdp.39015011012013 172 115 MARKETED market VBD mdp.39015011012013 172 116 MORE MORE JJR mdp.39015011012013 172 117 THAN than IN mdp.39015011012013 172 118 80 80 CD mdp.39015011012013 172 119 % % NN mdp.39015011012013 172 120 of of IN mdp.39015011012013 172 121 THE the DT mdp.39015011012013 172 122 OiL oil NN mdp.39015011012013 172 123 , , , mdp.39015011012013 172 124 AND and CC mdp.39015011012013 172 125 WERE be VBD mdp.39015011012013 172 126 SELLING sell VBG mdp.39015011012013 172 127 LARGE large JJ mdp.39015011012013 172 128 AMOUNTS amounts NN mdp.39015011012013 172 129 TO to IN mdp.39015011012013 172 130 INDEPENDENT independent JJ mdp.39015011012013 172 131 REFINER refiner NN mdp.39015011012013 172 132 / / SYM mdp.39015011012013 172 133 MARKETERS marketer NNS mdp.39015011012013 172 134 IN in IN mdp.39015011012013 172 135 EUROPE EUROPE NNP mdp.39015011012013 172 136 , , , mdp.39015011012013 172 137 ASIA ASIA NNP mdp.39015011012013 172 138 , , , mdp.39015011012013 172 139 AND and CC mdp.39015011012013 172 140 SOUTH SOUTH NNP mdp.39015011012013 172 141 AMERICA AMERICA NNP mdp.39015011012013 172 142 . . . mdp.39015011012013 173 1 34 34 CD mdp.39015011012013 173 2 THESE these DT mdp.39015011012013 173 3 NEW new JJ mdp.39015011012013 173 4 constraints constraint NNS mdp.39015011012013 173 5 MAKE make VBP mdp.39015011012013 173 6 IT it PRP mdp.39015011012013 173 7 Much much JJ mdp.39015011012013 173 8 MoRE MoRE JJR mdp.39015011012013 173 9 DIFFicult difficult JJ mdp.39015011012013 173 10 to to TO mdp.39015011012013 173 11 Do do VB mdp.39015011012013 173 12 Business Business NNP mdp.39015011012013 173 13 , , , mdp.39015011012013 173 14 since since IN mdp.39015011012013 173 15 they -PRON- PRP mdp.39015011012013 173 16 wake wake VBP mdp.39015011012013 173 17 the the DT mdp.39015011012013 173 18 syster syster NN mdp.39015011012013 173 19 . . . mdp.39015011012013 174 1 Much much RB mdp.39015011012013 174 2 more more RBR mdp.39015011012013 174 3 rigid rigid JJ mdp.39015011012013 174 4 . . . mdp.39015011012013 175 1 THEY they PRP mdp.39015011012013 175 2 ALso also RB mdp.39015011012013 175 3 contRIBUTE contRIBUTE VBZ mdp.39015011012013 175 4 To to IN mdp.39015011012013 175 5 HIGHER high JJR mdp.39015011012013 175 6 OPERATION operation NN mdp.39015011012013 175 7 costs cost NNS mdp.39015011012013 175 8 WHICH which WDT mdp.39015011012013 175 9 MUST MUST MD mdp.39015011012013 175 10 BE be VB mdp.39015011012013 175 11 PASSED pass VBN mdp.39015011012013 175 12 ON on RP mdp.39015011012013 175 13 TO to IN mdp.39015011012013 175 14 THE the DT mdp.39015011012013 175 15 CONSUMER consumer NN mdp.39015011012013 175 16 , , , mdp.39015011012013 175 17 As as IN mdp.39015011012013 175 18 You -PRON- PRP mdp.39015011012013 175 19 can can MD mdp.39015011012013 175 20 SEE see VB mdp.39015011012013 175 21 , , , mdp.39015011012013 175 22 over over IN mdp.39015011012013 175 23 A a DT mdp.39015011012013 175 24 TEN ten CD mdp.39015011012013 175 25 - - HYPH mdp.39015011012013 175 26 YEAR year NN mdp.39015011012013 175 27 PERIOD period NN mdp.39015011012013 175 28 PRODUCTION production NN mdp.39015011012013 175 29 AND and CC mdp.39015011012013 175 30 MARKETING marketing NN mdp.39015011012013 175 31 DEcision decision NN mdp.39015011012013 175 32 - - HYPH mdp.39015011012013 175 33 MAKING making NN mdp.39015011012013 175 34 RESPONsibility responsibility NN mdp.39015011012013 175 35 HAS have VBZ mdp.39015011012013 175 36 LARGELY largely RB mdp.39015011012013 175 37 PASSED pass VBN mdp.39015011012013 175 38 FROM from IN mdp.39015011012013 175 39 THE the DT mdp.39015011012013 175 40 HANDs hand NNS mdp.39015011012013 175 41 of of IN mdp.39015011012013 175 42 THE the DT mdp.39015011012013 175 43 MAJOR major JJ mdp.39015011012013 175 44 oil oil NN mdp.39015011012013 175 45 companies company NNS mdp.39015011012013 175 46 To to IN mdp.39015011012013 175 47 THose those DT mdp.39015011012013 175 48 of of IN mdp.39015011012013 175 49 OPEC OPEC NNP mdp.39015011012013 175 50 MANAGERs manager NNS mdp.39015011012013 175 51 , , , mdp.39015011012013 175 52 AT at IN mdp.39015011012013 175 53 THE the DT mdp.39015011012013 175 54 SAME same JJ mdp.39015011012013 175 55 TIME time NN mdp.39015011012013 175 56 , , , mdp.39015011012013 175 57 INTERNATIONAL international JJ mdp.39015011012013 175 58 PETROLEUM petroleum NN mdp.39015011012013 175 59 MARKETs market NNS mdp.39015011012013 175 60 ONCE once RB mdp.39015011012013 175 61 CHARACTERIZED characterize VBN mdp.39015011012013 175 62 BY by IN mdp.39015011012013 175 63 PRICE price NN mdp.39015011012013 175 64 STABILITY stability NN mdp.39015011012013 175 65 AND and CC mdp.39015011012013 175 66 FLEXIBILITY flexibility NN mdp.39015011012013 175 67 , , , mdp.39015011012013 175 68 ARE are VBP mdp.39015011012013 175 69 NOW now RB mdp.39015011012013 175 70 CHARACTERIZED characterize VBN mdp.39015011012013 175 71 BY by IN mdp.39015011012013 175 72 INSTABILITY instability NN mdp.39015011012013 175 73 , , , mdp.39015011012013 175 74 RIGIDITY rigidity NN mdp.39015011012013 175 75 AND and CC mdp.39015011012013 175 76 ESCALATING escalate VBG mdp.39015011012013 175 77 PRICEs price NNS mdp.39015011012013 175 78 . . . mdp.39015011012013 176 1 WiTH with IN mdp.39015011012013 176 2 Most Most JJS mdp.39015011012013 176 3 of of IN mdp.39015011012013 176 4 THE the DT mdp.39015011012013 176 5 oil oil NN mdp.39015011012013 176 6 concessions concession NNS mdp.39015011012013 176 7 Now now RB mdp.39015011012013 176 8 GONE go VBN mdp.39015011012013 176 9 , , , mdp.39015011012013 176 10 THE the DT mdp.39015011012013 176 11 MAJOR major JJ mdp.39015011012013 176 12 COMPANIES company NNS mdp.39015011012013 176 13 NOW now RB mdp.39015011012013 176 14 HAVE have VBP mdp.39015011012013 176 15 ACCESS access NN mdp.39015011012013 176 16 TO to IN mdp.39015011012013 176 17 LESS LESS JJR mdp.39015011012013 176 18 THAN than IN mdp.39015011012013 176 19 ONE one CD mdp.39015011012013 176 20 - - HYPH mdp.39015011012013 176 21 HALF half NN mdp.39015011012013 176 22 OF OF NNP mdp.39015011012013 176 23 OPEC OPEC NNP mdp.39015011012013 176 24 's 's POS mdp.39015011012013 176 25 cruDE cruDE NNP mdp.39015011012013 176 26 PRODUCTION production NN mdp.39015011012013 176 27 , , , mdp.39015011012013 176 28 44 44 CD mdp.39015011012013 176 29 IMPORTING IMPORTING NNP mdp.39015011012013 176 30 NATIONs nation NNS mdp.39015011012013 176 31 WHICH which WDT mdp.39015011012013 176 32 Lose lose VBP mdp.39015011012013 176 33 cruDE crude NN mdp.39015011012013 176 34 IMPORTS import NNS mdp.39015011012013 176 35 WILL WILL MD mdp.39015011012013 176 36 LOOK look VB mdp.39015011012013 176 37 ELSEWHERE elsewhere RB mdp.39015011012013 176 38 TO to TO mdp.39015011012013 176 39 MEET meet VB mdp.39015011012013 176 40 THEIR their PRP$ mdp.39015011012013 176 41 NEEDs need NNS mdp.39015011012013 176 42 , , , mdp.39015011012013 176 43 IT it PRP mdp.39015011012013 176 44 is be VBZ mdp.39015011012013 176 45 PoinTLESS PoinTLESS NNP mdp.39015011012013 176 46 TO to TO mdp.39015011012013 176 47 TRY try VB mdp.39015011012013 176 48 TO to TO mdp.39015011012013 176 49 PREDICT predict VB mdp.39015011012013 176 50 WHAT what WP mdp.39015011012013 176 51 THE the DT mdp.39015011012013 176 52 WORST bad JJS mdp.39015011012013 176 53 CASE case NN mdp.39015011012013 176 54 MIGHT may MD mdp.39015011012013 176 55 BE be VB mdp.39015011012013 176 56 , , , mdp.39015011012013 176 57 SO so RB mdp.39015011012013 176 58 UNPREDICTABLE unpredictable JJ mdp.39015011012013 176 59 HAS have VBZ mdp.39015011012013 176 60 THE the DT mdp.39015011012013 176 61 oil oil NN mdp.39015011012013 176 62 Bus Bus NNP mdp.39015011012013 176 63 INEss INEss NNP mdp.39015011012013 176 64 BECOME become VBP mdp.39015011012013 176 65 , , , mdp.39015011012013 176 66 BUT but CC mdp.39015011012013 176 67 IT it PRP mdp.39015011012013 176 68 MIGHT may MD mdp.39015011012013 176 69 BE be VB mdp.39015011012013 176 70 PRUDENT prudent JJ mdp.39015011012013 176 71 TO to TO mdp.39015011012013 176 72 NOTE note VB mdp.39015011012013 176 73 THAT that IN mdp.39015011012013 176 74 WHEN when WRB mdp.39015011012013 176 75 THE the DT mdp.39015011012013 176 76 1979 1979 CD mdp.39015011012013 176 77 REVOLUTION REVOLUTION NNP mdp.39015011012013 176 78 IN in IN mdp.39015011012013 176 79 IRAN IRAN NNP mdp.39015011012013 176 80 DISRUPTED disrupt VBD mdp.39015011012013 176 81 THE the DT mdp.39015011012013 176 82 SYSTEM system NN mdp.39015011012013 176 83 , , , mdp.39015011012013 176 84 CRUDE crude JJ mdp.39015011012013 176 85 COSTS cost NNS mdp.39015011012013 176 86 MORE MORE JJR mdp.39015011012013 176 87 THAN than IN mdp.39015011012013 176 88 DOUBLED double VBD mdp.39015011012013 176 89 , , , mdp.39015011012013 176 90 SOME some DT mdp.39015011012013 176 91 STEPS step NNS mdp.39015011012013 176 92 HAVE have VBP mdp.39015011012013 176 93 ALREADY already RB mdp.39015011012013 176 94 BEEN be VBN mdp.39015011012013 176 95 TAKEN take VBN mdp.39015011012013 176 96 TO to TO mdp.39015011012013 176 97 CUSHION cushion NN mdp.39015011012013 176 98 AGAINST against IN mdp.39015011012013 176 99 A a DT mdp.39015011012013 176 100 SEVERE severe JJ mdp.39015011012013 176 101 SUPPLY supply NN mdp.39015011012013 176 102 SHOck shock NN mdp.39015011012013 176 103 , , , mdp.39015011012013 176 104 FoR for IN mdp.39015011012013 176 105 EXAMPLE example NN mdp.39015011012013 176 106 , , , mdp.39015011012013 176 107 SHOULD SHOULD MD mdp.39015011012013 176 108 ANY any DT mdp.39015011012013 176 109 MEMBER member NN mdp.39015011012013 176 110 country country NN mdp.39015011012013 176 111 of of IN mdp.39015011012013 176 112 THE the DT mdp.39015011012013 176 113 INTERNATIONAL international JJ mdp.39015011012013 176 114 ENERGY ENERGY NNP mdp.39015011012013 176 115 AGENCY AGENCY NNS mdp.39015011012013 176 116 SUFFER suffer VBP mdp.39015011012013 176 117 A a DT mdp.39015011012013 176 118 Loss loss NN mdp.39015011012013 176 119 of of IN mdp.39015011012013 176 120 As as RB mdp.39015011012013 176 121 MUCH much JJ mdp.39015011012013 176 122 As as IN mdp.39015011012013 176 123 seveN seven CD mdp.39015011012013 176 124 PERCENT percent NN mdp.39015011012013 176 125 of of IN mdp.39015011012013 176 126 suPPLY suPPLY NNP mdp.39015011012013 176 127 , , , mdp.39015011012013 176 128 THE the DT mdp.39015011012013 176 129 U.S. U.S. NNP mdp.39015011012013 176 130 -- -- : mdp.39015011012013 176 131 ALONG along IN mdp.39015011012013 176 132 WITH with IN mdp.39015011012013 176 133 other other JJ mdp.39015011012013 176 134 IEA IEA NNP mdp.39015011012013 176 135 MEMBERS member NNS mdp.39015011012013 176 136 -- -- : mdp.39015011012013 176 137 WOULD WOULD MD mdp.39015011012013 176 138 BE be VB mdp.39015011012013 176 139 OBLIGED oblige VBN mdp.39015011012013 176 140 TO to TO mdp.39015011012013 176 141 SHARE share VB mdp.39015011012013 176 142 IMPORTS import NNS mdp.39015011012013 176 143 , , , mdp.39015011012013 176 144 THE the DT mdp.39015011012013 176 145 CENTRAL central JJ mdp.39015011012013 176 146 PROBLEM problem NN mdp.39015011012013 176 147 , , , mdp.39015011012013 176 148 However however RB mdp.39015011012013 176 149 , , , mdp.39015011012013 176 150 Is be VBZ mdp.39015011012013 176 151 NoT not RB mdp.39015011012013 176 152 conFINED confined DT mdp.39015011012013 176 153 TO to IN mdp.39015011012013 176 154 THE the DT mdp.39015011012013 176 155 Loss Loss NNP mdp.39015011012013 176 156 of of IN mdp.39015011012013 176 157 IRANIAN iranian JJ mdp.39015011012013 176 158 AND and CC mdp.39015011012013 176 159 IRAQI iraqi JJ mdp.39015011012013 176 160 ExPORTS exports NN mdp.39015011012013 176 161 , , , mdp.39015011012013 176 162 THE the DT mdp.39015011012013 176 163 MAIN main JJ mdp.39015011012013 176 164 QUESTION question NN mdp.39015011012013 176 165 CONCERNS concerns VBP mdp.39015011012013 176 166 THE the DT mdp.39015011012013 176 167 EFFECT effect NN mdp.39015011012013 176 168 ON on IN mdp.39015011012013 176 169 SHIPPING shipping NN mdp.39015011012013 176 170 IN in IN mdp.39015011012013 176 171 THE the DT mdp.39015011012013 176 172 PERSIAN PERSIAN NNP mdp.39015011012013 176 173 GULF GULF NNP mdp.39015011012013 176 174 , , , mdp.39015011012013 176 175 SINCE since IN mdp.39015011012013 176 176 ABOUT about RB mdp.39015011012013 176 177 40 40 CD mdp.39015011012013 176 178 PERCENT percent NN mdp.39015011012013 176 179 OF of IN mdp.39015011012013 176 180 THE the DT mdp.39015011012013 176 181 OLL OLL NNP mdp.39015011012013 176 182 consumED consumED NNP mdp.39015011012013 176 183 IN in IN mdp.39015011012013 176 184 THE the DT mdp.39015011012013 176 185 NON non JJ mdp.39015011012013 176 186 - - JJ mdp.39015011012013 176 187 COMMUNIST communist JJ mdp.39015011012013 176 188 WORLD world NN mdp.39015011012013 176 189 AND and CC mdp.39015011012013 176 190 NEARLY NEARLY VBD mdp.39015011012013 176 191 60 60 CD mdp.39015011012013 176 192 PERCENT percent NN mdp.39015011012013 176 193 OF of IN mdp.39015011012013 176 194 oil- oil- NN mdp.39015011012013 176 195 Moving move VBG mdp.39015011012013 176 196 IN in IN mdp.39015011012013 176 197 INTERNATIONAL international JJ mdp.39015011012013 176 198 TRADE trade NN mdp.39015011012013 176 199 MUST MUST MD mdp.39015011012013 176 200 FLOW flow VB mdp.39015011012013 176 201 THROUGH through IN mdp.39015011012013 176 202 THE the DT mdp.39015011012013 176 203 STRAITS STRAITS NNPS mdp.39015011012013 176 204 OF of IN mdp.39015011012013 176 205 HORMUz HORMUz NNPS mdp.39015011012013 176 206 , , , mdp.39015011012013 176 207 46 46 CD mdp.39015011012013 176 208 Ours Ours NNPS mdp.39015011012013 176 209 is be VBZ mdp.39015011012013 176 210 basically basically RB mdp.39015011012013 176 211 a a DT mdp.39015011012013 176 212 PETRoleum petroleum NN mdp.39015011012013 176 213 - - HYPH mdp.39015011012013 176 214 fueled fuel VBN mdp.39015011012013 176 215 Economy Economy NNP mdp.39015011012013 176 216 , , , mdp.39015011012013 176 217 OIL oil NN mdp.39015011012013 176 218 AND and CC mdp.39015011012013 176 219 NATURAL natural NN mdp.39015011012013 176 220 . . . mdp.39015011012013 177 1 GAS gas NN mdp.39015011012013 177 2 WILL WILL MD mdp.39015011012013 177 3 CONTINUE continue VB mdp.39015011012013 177 4 TO to TO mdp.39015011012013 177 5 BE be VB mdp.39015011012013 177 6 THE the DT mdp.39015011012013 177 7 BACKBONE backbone NN mdp.39015011012013 177 8 OF of IN mdp.39015011012013 177 9 OUR our PRP$ mdp.39015011012013 177 10 ENERGY energy NN mdp.39015011012013 177 11 SUPPLY supply NN mdp.39015011012013 177 12 FOR for IN mdp.39015011012013 177 13 A a DT mdp.39015011012013 177 14 LONG long JJ mdp.39015011012013 177 15 TIME time NN mdp.39015011012013 177 16 TO to TO mdp.39015011012013 177 17 COME come VB mdp.39015011012013 177 18 , , , mdp.39015011012013 177 19 AT at IN mdp.39015011012013 177 20 THE the DT mdp.39015011012013 177 21 PRESENT present JJ mdp.39015011012013 177 22 TIME time NN mdp.39015011012013 177 23 , , , mdp.39015011012013 177 24 WE we PRP mdp.39015011012013 177 25 ARE are VBP mdp.39015011012013 177 26 CONSUMING consume VBG mdp.39015011012013 177 27 THE the DT mdp.39015011012013 177 28 ENERGY energy NN mdp.39015011012013 177 29 EquivalENT EquivalENT NNP mdp.39015011012013 177 30 OF of IN mdp.39015011012013 177 31 38 38 CD mdp.39015011012013 177 32 M.ILL.ION M.ILL.ION NNPS mdp.39015011012013 177 33 BARRELS barrel NNS mdp.39015011012013 177 34 OF of IN mdp.39015011012013 177 35 oil oil NN mdp.39015011012013 177 36 EACH each DT mdp.39015011012013 177 37 DAY day NN mdp.39015011012013 177 38 IN in IN mdp.39015011012013 177 39 THE the DT mdp.39015011012013 177 40 UNITED UNITED NNP mdp.39015011012013 177 41 STATES STATES NNP mdp.39015011012013 177 42 : : : mdp.39015011012013 177 43 19 19 CD mdp.39015011012013 177 44 PERCENT percent NN mdp.39015011012013 177 45 IS be VBZ mdp.39015011012013 177 46 FROM from IN mdp.39015011012013 177 47 coAL coal NN mdp.39015011012013 177 48 ; ; : mdp.39015011012013 177 49 119 119 CD mdp.39015011012013 177 50 PERCENT percent NN mdp.39015011012013 177 51 is be VBZ mdp.39015011012013 177 52 FROM from IN mdp.39015011012013 177 53 DOMEST DOMEST NNP mdp.39015011012013 177 54 ic ic IN mdp.39015011012013 177 55 oil oil NN mdp.39015011012013 177 56 AND and CC mdp.39015011012013 177 57 NATURAL natural JJ mdp.39015011012013 177 58 GAS gas NN mdp.39015011012013 177 59 ; ; : mdp.39015011012013 177 60 NEARLY NEARLY VBD mdp.39015011012013 177 61 H h NN mdp.39015011012013 177 62 PERCENT percent NN mdp.39015011012013 177 63 is be VBZ mdp.39015011012013 177 64 FROM from IN mdp.39015011012013 177 65 NucLEAR nuclear JJ mdp.39015011012013 177 66 ENERGY energy NN mdp.39015011012013 177 67 ; ; : mdp.39015011012013 177 68 AND and CC mdp.39015011012013 177 69 ALMosT ALMosT NNP mdp.39015011012013 177 70 H H NNP mdp.39015011012013 177 71 PERCENT percent NN mdp.39015011012013 177 72 IS be VBZ mdp.39015011012013 177 73 FROM from IN mdp.39015011012013 177 74 HYDROELECTRIC hydroelectric NN mdp.39015011012013 177 75 , , , mdp.39015011012013 177 76 GEOTHERMAL geothermal NN mdp.39015011012013 177 77 , , , mdp.39015011012013 177 78 SOLAR solar NN mdp.39015011012013 177 79 , , , mdp.39015011012013 177 80 AND and CC mdp.39015011012013 177 81 SIMILAR similar JJ mdp.39015011012013 177 82 SOURCES source NNS mdp.39015011012013 177 83 , , , mdp.39015011012013 177 84 THUS thus RB mdp.39015011012013 177 85 THE the DT mdp.39015011012013 177 86 REMAINING remaining JJ mdp.39015011012013 177 87 NEARLY NEARLY VBN mdp.39015011012013 177 88 ONE one CD mdp.39015011012013 177 89 - - HYPH mdp.39015011012013 177 90 QUARTER quarter NN mdp.39015011012013 177 91 OF of IN mdp.39015011012013 177 92 OUR our PRP$ mdp.39015011012013 177 93 ToTAL total JJ mdp.39015011012013 177 94 ENERGY energy NN mdp.39015011012013 177 95 SUPPLY SUPPLY NNP mdp.39015011012013 177 96 IS be VBZ mdp.39015011012013 177 97 MADE make VBN mdp.39015011012013 177 98 UP up RP mdp.39015011012013 177 99 OF of IN mdp.39015011012013 177 100 IMPORTS import NNS mdp.39015011012013 177 101 , , , mdp.39015011012013 177 102 THE the DT mdp.39015011012013 177 103 U.S. U.S. NNP mdp.39015011012013 178 1 NEED need VB mdp.39015011012013 178 2 NOT not RB mdp.39015011012013 178 3 STAND stand VB mdp.39015011012013 178 4 IDLY idly RB mdp.39015011012013 178 5 BY by RB mdp.39015011012013 178 6 . . . mdp.39015011012013 179 1 THERE there EX mdp.39015011012013 179 2 ARE are VBP mdp.39015011012013 179 3 POSITIVE positive JJ mdp.39015011012013 179 4 STEPS step NNS mdp.39015011012013 179 5 THAT that WDT mdp.39015011012013 179 6 CAN CAN MD mdp.39015011012013 179 7 BE be VB mdp.39015011012013 179 8 TAKEN take VBN mdp.39015011012013 179 9 , , , mdp.39015011012013 179 10 AND and CC mdp.39015011012013 179 11 QUICKLY quickly RB mdp.39015011012013 179 12 , , , mdp.39015011012013 179 13 WE we PRP mdp.39015011012013 179 14 MUST MUST MD mdp.39015011012013 179 15 INTENSIFY intensify VB mdp.39015011012013 179 16 THE the DT mdp.39015011012013 179 17 ONGOING ongoing JJ mdp.39015011012013 179 18 EFFORT effort NN mdp.39015011012013 179 19 TO to TO mdp.39015011012013 179 20 AWAKEN awaken VB mdp.39015011012013 179 21 THE the DT mdp.39015011012013 179 22 AMERICAN AMERICAN NNP mdp.39015011012013 179 23 PEOPLE PEOPLE NNS mdp.39015011012013 179 24 TO to IN mdp.39015011012013 179 25 THE the DT mdp.39015011012013 179 26 TRUE true JJ mdp.39015011012013 179 27 DIMENSIONS dimensions NN mdp.39015011012013 179 28 OF of IN mdp.39015011012013 179 29 THE the DT mdp.39015011012013 179 30 PROBLEM problem NN mdp.39015011012013 179 31 , , , mdp.39015011012013 179 32 AND and CC mdp.39015011012013 179 33 THE the DT mdp.39015011012013 179 34 DANGER danger NN mdp.39015011012013 179 35 , , , mdp.39015011012013 179 36 50 50 CD mdp.39015011012013 179 37 35 35 CD mdp.39015011012013 179 38 30 30 CD mdp.39015011012013 179 39 25 25 CD mdp.39015011012013 179 40 20 20 CD mdp.39015011012013 179 41 15 15 CD mdp.39015011012013 179 42 10 10 CD mdp.39015011012013 179 43 chart chart NN mdp.39015011012013 179 44 -5 -5 NNP mdp.39015011012013 179 45 OPEC OPEC NNP mdp.39015011012013 179 46 OFFICIAL official NN mdp.39015011012013 179 47 CRUDE crude JJ mdp.39015011012013 179 48 OLL OLL NNP mdp.39015011012013 179 49 PRICES price NNS mdp.39015011012013 179 50 $ $ NN mdp.39015011012013 179 51 /B /B . mdp.39015011012013 179 52 AND and CC mdp.39015011012013 179 53 CONTROL control NN mdp.39015011012013 179 54 OF of IN mdp.39015011012013 179 55 OPEC OPEC NNP mdp.39015011012013 179 56 SUPPLY SUPPLY NNP mdp.39015011012013 179 57 $ $ $ mdp.39015011012013 179 58 32.00 32.00 CD mdp.39015011012013 179 59 BY by IN mdp.39015011012013 179 60 MAJORS MAJORS NNP mdp.39015011012013 179 61 TAPLINE TAPLINE NNP mdp.39015011012013 179 62 FAILURE failure NN mdp.39015011012013 179 63 * * NFP mdp.39015011012013 179 64 -MIDDLE -MIDDLE . mdp.39015011012013 179 65 EAST EAST NNP mdp.39015011012013 179 66 WAR WAR NNP mdp.39015011012013 179 67 AND and CC mdp.39015011012013 179 68 ARAB ARAB NNP mdp.39015011012013 179 69 , , , mdp.39015011012013 179 70 EMBAngo embango JJ mdp.39015011012013 179 71 70 70 CD mdp.39015011012013 179 72 l l NN mdp.39015011012013 179 73 71 71 CD mdp.39015011012013 179 74 I -PRON- PRP mdp.39015011012013 179 75 HTTE HTTE NNPS mdp.39015011012013 179 76 * * NFP mdp.39015011012013 179 77 7 7 CD mdp.39015011012013 179 78 . . . mdp.39015011012013 180 1 I -PRON- PRP mdp.39015011012013 180 2 75 75 CD mdp.39015011012013 180 3 I i NN mdp.39015011012013 180 4 76 76 CD mdp.39015011012013 180 5 I i NN mdp.39015011012013 180 6 77 77 CD mdp.39015011012013 180 7 l l NN mdp.39015011012013 180 8 70 70 CD mdp.39015011012013 180 9 l l NN mdp.39015011012013 180 10 79 79 CD mdp.39015011012013 180 11 I i NN mdp.39015011012013 180 12 80 80 CD mdp.39015011012013 180 13 I -PRON- PRP mdp.39015011012013 180 14 PROFILE profile VBP mdp.39015011012013 180 15 OF of IN mdp.39015011012013 180 16 OPEC OPEC NNP mdp.39015011012013 180 17 PRODUCTION PRODUCTION NNP mdp.39015011012013 180 18 lo lo NNP mdp.39015011012013 180 19 ciiart ciiart NNP mdp.39015011012013 180 20 6 6 CD mdp.39015011012013 180 21 - - HYPH mdp.39015011012013 180 22 1980 1980 CD mdp.39015011012013 180 23 PRODUCTIVE PRODUCTIVE NNP mdp.39015011012013 180 24 CAPACITY capacity NN mdp.39015011012013 180 25 MMB MMB NNP mdp.39015011012013 180 26 / / SYM mdp.39015011012013 180 27 D D NNP mdp.39015011012013 180 28 DEFINITIon- DEFINITIon- NNP mdp.39015011012013 180 29 Maximum maximum JJ mdp.39015011012013 180 30 production production NN mdp.39015011012013 180 31 rate rate NN mdp.39015011012013 180 32 that that WDT mdp.39015011012013 180 33 can can MD mdp.39015011012013 180 34 be be VB mdp.39015011012013 180 35 sustained sustain VBN mdp.39015011012013 180 36 for for IN mdp.39015011012013 180 37 several several JJ mdp.39015011012013 180 38 months month NNS mdp.39015011012013 180 39 . . . mdp.39015011012013 181 1 This this DT mdp.39015011012013 181 2 capacity capacity NN mdp.39015011012013 181 3 concept concept NN mdp.39015011012013 181 4 does do VBZ mdp.39015011012013 181 5 not not RB mdp.39015011012013 181 6 reflect reflect VB mdp.39015011012013 181 7 -----a- -----a- NFP mdp.39015011012013 181 8 F- f- CD mdp.39015011012013 181 9 ceilings ceiling NNS mdp.39015011012013 181 10 applied apply VBN mdp.39015011012013 181 11 by by IN mdp.39015011012013 181 12 vari vari NNP mdp.39015011012013 181 13 opec opec NNP mdp.39015011012013 181 14 bers bers NNP mdp.39015011012013 181 15 . . . mdp.39015011012013 182 1 51 51 CD mdp.39015011012013 182 2 PROFILE profile NN mdp.39015011012013 182 3 OF of IN mdp.39015011012013 182 4 OPEC OPEC NNP mdp.39015011012013 182 5 PHOLUUT PHOLUUT NNP mdp.39015011012013 182 6 ION ION NNP mdp.39015011012013 182 7 Cliart Cliart NNP mdp.39015011012013 182 8 - - HYPH mdp.39015011012013 182 9 7 7 CD mdp.39015011012013 182 10 1979 1979 CD mdp.39015011012013 182 11 MMB MMB NNP mdp.39015011012013 182 12 / / SYM mdp.39015011012013 182 13 D D NNP mdp.39015011012013 182 14 30.8 30.8 CD mdp.39015011012013 182 15 Egmºſg,34 Egmºſg,34 NNS mdp.39015011012013 182 16 . . . mdp.39015011012013 183 1 Consumption consumption NN mdp.39015011012013 183 2 : : : mdp.39015011012013 183 3 rt rt NNP mdp.39015011012013 183 4 innraºr innraºr NNP mdp.39015011012013 183 5 1070 1070 CD mdp.39015011012013 183 6 pnnni pnnni NNP mdp.39015011012013 183 7 Irrinn Irrinn NNP mdp.39015011012013 183 8 52 52 CD mdp.39015011012013 183 9 Mr. Mr. NNP mdp.39015011012013 183 10 Moffett Moffett NNP mdp.39015011012013 183 11 . . . mdp.39015011012013 184 1 Let let VB mdp.39015011012013 184 2 me -PRON- PRP mdp.39015011012013 184 3 ask ask VB mdp.39015011012013 184 4 that that IN mdp.39015011012013 184 5 the the DT mdp.39015011012013 184 6 members member NNS mdp.39015011012013 184 7 be be VB mdp.39015011012013 184 8 allowed allow VBN mdp.39015011012013 184 9 to to TO mdp.39015011012013 184 10 look look VB mdp.39015011012013 184 11 this this DT mdp.39015011012013 184 12 over over RP mdp.39015011012013 184 13 . . . mdp.39015011012013 185 1 Meantime meantime RB mdp.39015011012013 185 2 , , , mdp.39015011012013 185 3 we -PRON- PRP mdp.39015011012013 185 4 will will MD mdp.39015011012013 185 5 move move VB mdp.39015011012013 185 6 to to IN mdp.39015011012013 185 7 questions question NNS mdp.39015011012013 185 8 and and CC mdp.39015011012013 185 9 you -PRON- PRP mdp.39015011012013 185 10 can can MD mdp.39015011012013 185 11 ex- ex- RB mdp.39015011012013 185 12 plain plain JJ mdp.39015011012013 185 13 this this DT mdp.39015011012013 185 14 as as IN mdp.39015011012013 185 15 you -PRON- PRP mdp.39015011012013 185 16 go go VBP mdp.39015011012013 185 17 along along RB mdp.39015011012013 185 18 . . . mdp.39015011012013 186 1 I -PRON- PRP mdp.39015011012013 186 2 am be VBP mdp.39015011012013 186 3 sure sure JJ mdp.39015011012013 186 4 there there EX mdp.39015011012013 186 5 will will MD mdp.39015011012013 186 6 be be VB mdp.39015011012013 186 7 questions question NNS mdp.39015011012013 186 8 . . . mdp.39015011012013 187 1 Mr. Mr. NNP mdp.39015011012013 187 2 CAMPBELL CAMPBELL NNP mdp.39015011012013 187 3 . . . mdp.39015011012013 188 1 Certainly certainly RB mdp.39015011012013 188 2 . . . mdp.39015011012013 189 1 Mr. Mr. NNP mdp.39015011012013 189 2 Moffett Moffett NNP mdp.39015011012013 189 3 . . . mdp.39015011012013 190 1 At at IN mdp.39015011012013 190 2 this this DT mdp.39015011012013 190 3 time time NN mdp.39015011012013 190 4 , , , mdp.39015011012013 190 5 the the DT mdp.39015011012013 190 6 Chair Chair NNP mdp.39015011012013 190 7 recognizes recognize VBZ mdp.39015011012013 190 8 the the DT mdp.39015011012013 190 9 gentleman gentleman NN mdp.39015011012013 190 10 from from IN mdp.39015011012013 190 11 Minnesota Minnesota NNP mdp.39015011012013 190 12 , , , mdp.39015011012013 190 13 Mr. Mr. NNP mdp.39015011012013 190 14 Stangeland Stangeland NNP mdp.39015011012013 190 15 , , , mdp.39015011012013 190 16 for for IN mdp.39015011012013 190 17 5 5 CD mdp.39015011012013 190 18 minutes minute NNS mdp.39015011012013 190 19 . . . mdp.39015011012013 191 1 Mr. Mr. NNP mdp.39015011012013 191 2 STANGELAND STANGELAND NNP mdp.39015011012013 191 3 . . . mdp.39015011012013 192 1 Thank thank VBP mdp.39015011012013 192 2 you -PRON- PRP mdp.39015011012013 192 3 , , , mdp.39015011012013 192 4 Mr. Mr. NNP mdp.39015011012013 192 5 Chairman Chairman NNP mdp.39015011012013 192 6 . . . mdp.39015011012013 193 1 I -PRON- PRP mdp.39015011012013 193 2 have have VBP mdp.39015011012013 193 3 not not RB mdp.39015011012013 193 4 had have VBN mdp.39015011012013 193 5 a a DT mdp.39015011012013 193 6 chance chance NN mdp.39015011012013 193 7 to to TO mdp.39015011012013 193 8 look look VB mdp.39015011012013 193 9 at at IN mdp.39015011012013 193 10 this this DT mdp.39015011012013 193 11 chart chart NN mdp.39015011012013 193 12 . . . mdp.39015011012013 194 1 Your -PRON- PRP$ mdp.39015011012013 194 2 slides slide NNS mdp.39015011012013 194 3 were be VBD mdp.39015011012013 194 4 very very RB mdp.39015011012013 194 5 informative informative JJ mdp.39015011012013 194 6 . . . mdp.39015011012013 195 1 In in IN mdp.39015011012013 195 2 your -PRON- PRP$ mdp.39015011012013 195 3 opinion opinion NN mdp.39015011012013 195 4 — — : mdp.39015011012013 195 5 I -PRON- PRP mdp.39015011012013 195 6 asked ask VBD mdp.39015011012013 195 7 these these DT mdp.39015011012013 195 8 questions question NNS mdp.39015011012013 195 9 of of IN mdp.39015011012013 195 10 Mr. Mr. NNP mdp.39015011012013 195 11 Sachs Sachs NNP mdp.39015011012013 195 12 — — : mdp.39015011012013 195 13 what what WP mdp.39015011012013 195 14 does do VBZ mdp.39015011012013 195 15 the the DT mdp.39015011012013 195 16 supply supply NN mdp.39015011012013 195 17 situation situation NN mdp.39015011012013 195 18 look look VBP mdp.39015011012013 195 19 like like IN mdp.39015011012013 195 20 for for IN mdp.39015011012013 195 21 us -PRON- PRP mdp.39015011012013 195 22 , , , mdp.39015011012013 195 23 should should MD mdp.39015011012013 195 24 we -PRON- PRP mdp.39015011012013 195 25 be be VB mdp.39015011012013 195 26 cut cut VBN mdp.39015011012013 195 27 off off RP mdp.39015011012013 195 28 from from IN mdp.39015011012013 195 29 not not RB mdp.39015011012013 195 30 only only RB mdp.39015011012013 195 31 Iranian iranian JJ mdp.39015011012013 195 32 and and CC mdp.39015011012013 195 33 Iraqi iraqi JJ mdp.39015011012013 195 34 crude crude NN mdp.39015011012013 195 35 , , , mdp.39015011012013 195 36 which which WDT mdp.39015011012013 195 37 we -PRON- PRP mdp.39015011012013 195 38 were be VBD mdp.39015011012013 195 39 not not RB mdp.39015011012013 195 40 getting get VBG mdp.39015011012013 195 41 anyway anyway RB mdp.39015011012013 195 42 , , , mdp.39015011012013 195 43 but but CC mdp.39015011012013 195 44 other other JJ mdp.39015011012013 195 45 sources source NNS mdp.39015011012013 195 46 if if IN mdp.39015011012013 195 47 the the DT mdp.39015011012013 195 48 Straits Straits NNPS mdp.39015011012013 195 49 of of IN mdp.39015011012013 195 50 Hormuz Hormuz NNP mdp.39015011012013 195 51 were be VBD mdp.39015011012013 195 52 blocked block VBN mdp.39015011012013 195 53 ? ? . mdp.39015011012013 196 1 How how WRB mdp.39015011012013 196 2 long long RB mdp.39015011012013 196 3 can can MD mdp.39015011012013 196 4 we -PRON- PRP mdp.39015011012013 196 5 operate operate VB mdp.39015011012013 196 6 at at IN mdp.39015011012013 196 7 a a DT mdp.39015011012013 196 8 normal normal JJ mdp.39015011012013 196 9 pace pace NN mdp.39015011012013 196 10 ? ? . mdp.39015011012013 197 1 How how WRB mdp.39015011012013 197 2 long long JJ mdp.39015011012013 197 3 a a DT mdp.39015011012013 197 4 time time NN mdp.39015011012013 197 5 will will MD mdp.39015011012013 197 6 it -PRON- PRP mdp.39015011012013 197 7 take take VB mdp.39015011012013 197 8 before before IN mdp.39015011012013 197 9 we -PRON- PRP mdp.39015011012013 197 10 would would MD mdp.39015011012013 197 11 be be VB mdp.39015011012013 197 12 able able JJ mdp.39015011012013 197 13 to to TO mdp.39015011012013 197 14 adjust adjust VB mdp.39015011012013 197 15 to to IN mdp.39015011012013 197 16 the the DT mdp.39015011012013 197 17 cutoff cutoff NN mdp.39015011012013 197 18 ourselves -PRON- PRP mdp.39015011012013 197 19 ? ? . mdp.39015011012013 198 1 Mr. Mr. NNP mdp.39015011012013 198 2 CAMPBELL CAMPBELL NNP mdp.39015011012013 198 3 . . . mdp.39015011012013 199 1 In in IN mdp.39015011012013 199 2 1977 1977 CD mdp.39015011012013 199 3 we -PRON- PRP mdp.39015011012013 199 4 had have VBD mdp.39015011012013 199 5 a a DT mdp.39015011012013 199 6 peak peak NN mdp.39015011012013 199 7 level level NN mdp.39015011012013 199 8 of of IN mdp.39015011012013 199 9 about about RB mdp.39015011012013 199 10 3.2 3.2 CD mdp.39015011012013 199 11 billion billion CD mdp.39015011012013 199 12 barrels barrel NNS mdp.39015011012013 199 13 of of IN mdp.39015011012013 199 14 inventory inventory NN mdp.39015011012013 199 15 in in IN mdp.39015011012013 199 16 the the DT mdp.39015011012013 199 17 world world NN mdp.39015011012013 199 18 . . . mdp.39015011012013 200 1 Right right RB mdp.39015011012013 200 2 now now RB mdp.39015011012013 200 3 , , , mdp.39015011012013 200 4 we -PRON- PRP mdp.39015011012013 200 5 have have VBP mdp.39015011012013 200 6 more more JJR mdp.39015011012013 200 7 inven- inven- JJ mdp.39015011012013 200 8 tory tory NN mdp.39015011012013 200 9 than than IN mdp.39015011012013 200 10 the the DT mdp.39015011012013 200 11 world world NN mdp.39015011012013 200 12 has have VBZ mdp.39015011012013 200 13 ever ever RB mdp.39015011012013 200 14 had have VBN mdp.39015011012013 200 15 . . . mdp.39015011012013 201 1 At at IN mdp.39015011012013 201 2 least least JJS mdp.39015011012013 201 3 in in IN mdp.39015011012013 201 4 our -PRON- PRP$ mdp.39015011012013 201 5 case case NN mdp.39015011012013 201 6 , , , mdp.39015011012013 201 7 this this DT mdp.39015011012013 201 8 is be VBZ mdp.39015011012013 201 9 the the DT mdp.39015011012013 201 10 first first JJ mdp.39015011012013 201 11 time time NN mdp.39015011012013 201 12 that that WDT mdp.39015011012013 201 13 we -PRON- PRP mdp.39015011012013 201 14 have have VBP mdp.39015011012013 201 15 had have VBN mdp.39015011012013 201 16 a a DT mdp.39015011012013 201 17 significant significant JJ mdp.39015011012013 201 18 amount amount NN mdp.39015011012013 201 19 of of IN mdp.39015011012013 201 20 floating float VBG mdp.39015011012013 201 21 stor- stor- JJ mdp.39015011012013 201 22 age age NN mdp.39015011012013 201 23 . . . mdp.39015011012013 202 1 That that DT mdp.39015011012013 202 2 is be VBZ mdp.39015011012013 202 3 the the DT mdp.39015011012013 202 4 3.5 3.5 CD mdp.39015011012013 202 5 billion billion CD mdp.39015011012013 202 6 barrels barrel NNS mdp.39015011012013 202 7 . . . mdp.39015011012013 203 1 Mr. Mr. NNP mdp.39015011012013 203 2 STANGELAND STANGELAND NNP mdp.39015011012013 203 3 . . . mdp.39015011012013 204 1 Excuse excuse VB mdp.39015011012013 204 2 me -PRON- PRP mdp.39015011012013 204 3 . . . mdp.39015011012013 205 1 Does do VBZ mdp.39015011012013 205 2 that that DT mdp.39015011012013 205 3 mean mean VB mdp.39015011012013 205 4 that that IN mdp.39015011012013 205 5 you -PRON- PRP mdp.39015011012013 205 6 are be VBP mdp.39015011012013 205 7 rent- rent- IN mdp.39015011012013 205 8 ing e VBG mdp.39015011012013 205 9 tankers tanker NNS mdp.39015011012013 205 10 for for IN mdp.39015011012013 205 11 storage storage NN mdp.39015011012013 205 12 ? ? . mdp.39015011012013 206 1 Mr. Mr. NNP mdp.39015011012013 206 2 CAMPBELL CAMPBELL NNP mdp.39015011012013 206 3 . . . mdp.39015011012013 207 1 Let let VB mdp.39015011012013 207 2 us -PRON- PRP mdp.39015011012013 207 3 say say VB mdp.39015011012013 207 4 that that IN mdp.39015011012013 207 5 we -PRON- PRP mdp.39015011012013 207 6 all all DT mdp.39015011012013 207 7 have have VBP mdp.39015011012013 207 8 spare spare JJ mdp.39015011012013 207 9 tankers tanker NNS mdp.39015011012013 207 10 , , , mdp.39015011012013 207 11 simply simply RB mdp.39015011012013 207 12 because because IN mdp.39015011012013 207 13 there there EX mdp.39015011012013 207 14 is be VBZ mdp.39015011012013 207 15 not not RB mdp.39015011012013 207 16 as as RB mdp.39015011012013 207 17 much much JJ mdp.39015011012013 207 18 oil oil NN mdp.39015011012013 207 19 being be VBG mdp.39015011012013 207 20 produced produce VBN mdp.39015011012013 207 21 as as IN mdp.39015011012013 207 22 we -PRON- PRP mdp.39015011012013 207 23 built build VBD mdp.39015011012013 207 24 tankers tanker NNS mdp.39015011012013 207 25 for for IN mdp.39015011012013 207 26 in in IN mdp.39015011012013 207 27 1974 1974 CD mdp.39015011012013 207 28 . . . mdp.39015011012013 208 1 There there EX mdp.39015011012013 208 2 is be VBZ mdp.39015011012013 208 3 generally generally RB mdp.39015011012013 208 4 a a DT mdp.39015011012013 208 5 surplus surplus NN mdp.39015011012013 208 6 of of IN mdp.39015011012013 208 7 tankers tanker NNS mdp.39015011012013 208 8 . . . mdp.39015011012013 209 1 If if IN mdp.39015011012013 209 2 you -PRON- PRP mdp.39015011012013 209 3 want want VBP mdp.39015011012013 209 4 to to TO mdp.39015011012013 209 5 put put VB mdp.39015011012013 209 6 it -PRON- PRP mdp.39015011012013 209 7 in in IN mdp.39015011012013 209 8 economic economic JJ mdp.39015011012013 209 9 terms term NNS mdp.39015011012013 209 10 , , , mdp.39015011012013 209 11 we -PRON- PRP mdp.39015011012013 209 12 are be VBP mdp.39015011012013 209 13 using use VBG mdp.39015011012013 209 14 tankers tanker NNS mdp.39015011012013 209 15 that that WDT mdp.39015011012013 209 16 would would MD mdp.39015011012013 209 17 have have VB mdp.39015011012013 209 18 gone go VBN mdp.39015011012013 209 19 out out RP mdp.39015011012013 209 20 in in IN mdp.39015011012013 209 21 the the DT mdp.39015011012013 209 22 spot spot NN mdp.39015011012013 209 23 market market NN mdp.39015011012013 209 24 if if IN mdp.39015011012013 209 25 we -PRON- PRP mdp.39015011012013 209 26 had have VBD mdp.39015011012013 209 27 not not RB mdp.39015011012013 209 28 stored store VBN mdp.39015011012013 209 29 oil oil NN mdp.39015011012013 209 30 , , , mdp.39015011012013 209 31 so so RB mdp.39015011012013 209 32 on on IN mdp.39015011012013 209 33 a a DT mdp.39015011012013 209 34 book book NN mdp.39015011012013 209 35 basis basis NN mdp.39015011012013 209 36 we -PRON- PRP mdp.39015011012013 209 37 are be VBP mdp.39015011012013 209 38 taking take VBG mdp.39015011012013 209 39 losses loss NNS mdp.39015011012013 209 40 but but CC mdp.39015011012013 209 41 on on IN mdp.39015011012013 209 42 a a DT mdp.39015011012013 209 43 cash cash NN mdp.39015011012013 209 44 basis basis NN mdp.39015011012013 209 45 we -PRON- PRP mdp.39015011012013 209 46 are be VBP mdp.39015011012013 209 47 not not RB mdp.39015011012013 209 48 really really RB mdp.39015011012013 209 49 going go VBG mdp.39015011012013 209 50 out out RP mdp.39015011012013 209 51 and and CC mdp.39015011012013 209 52 chartering charter VBG mdp.39015011012013 209 53 in in IN mdp.39015011012013 209 54 ships ship NNS mdp.39015011012013 209 55 . . . mdp.39015011012013 210 1 The the DT mdp.39015011012013 210 2 world world NN mdp.39015011012013 210 3 needs need VBZ mdp.39015011012013 210 4 about about IN mdp.39015011012013 210 5 2.2 2.2 CD mdp.39015011012013 210 6 billion billion CD mdp.39015011012013 210 7 barrels barrel NNS mdp.39015011012013 210 8 for for IN mdp.39015011012013 210 9 working work VBG mdp.39015011012013 210 10 inventory inventory NN mdp.39015011012013 210 11 , , , mdp.39015011012013 210 12 oil oil NN mdp.39015011012013 210 13 in in IN mdp.39015011012013 210 14 pipelines pipeline NNS mdp.39015011012013 210 15 , , , mdp.39015011012013 210 16 oil oil NN mdp.39015011012013 210 17 in in IN mdp.39015011012013 210 18 tank tank NN mdp.39015011012013 210 19 trucks truck NNS mdp.39015011012013 210 20 , , , mdp.39015011012013 210 21 and and CC mdp.39015011012013 210 22 that that DT mdp.39015011012013 210 23 kind kind NN mdp.39015011012013 210 24 of of IN mdp.39015011012013 210 25 thing thing NN mdp.39015011012013 210 26 . . . mdp.39015011012013 211 1 If if IN mdp.39015011012013 211 2 it -PRON- PRP mdp.39015011012013 211 3 is be VBZ mdp.39015011012013 211 4 only only RB mdp.39015011012013 211 5 Iran Iran NNP mdp.39015011012013 211 6 and and CC mdp.39015011012013 211 7 Iraq Iraq NNP mdp.39015011012013 211 8 that that WDT mdp.39015011012013 211 9 go go VBP mdp.39015011012013 211 10 down down RP mdp.39015011012013 211 11 , , , mdp.39015011012013 211 12 we -PRON- PRP mdp.39015011012013 211 13 see see VBP mdp.39015011012013 211 14 that that IN mdp.39015011012013 211 15 you -PRON- PRP mdp.39015011012013 211 16 could could MD mdp.39015011012013 211 17 get get VB mdp.39015011012013 211 18 through through RP mdp.39015011012013 211 19 into into IN mdp.39015011012013 211 20 about about RB mdp.39015011012013 211 21 the the DT mdp.39015011012013 211 22 second second JJ mdp.39015011012013 211 23 quarter quarter NN mdp.39015011012013 211 24 of of IN mdp.39015011012013 211 25 next next JJ mdp.39015011012013 211 26 year year NN mdp.39015011012013 211 27 before before IN mdp.39015011012013 211 28 there there EX mdp.39015011012013 211 29 is be VBZ mdp.39015011012013 211 30 any any DT mdp.39015011012013 211 31 really really RB mdp.39015011012013 211 32 significant significant JJ mdp.39015011012013 211 33 problem problem NN mdp.39015011012013 211 34 . . . mdp.39015011012013 212 1 We -PRON- PRP mdp.39015011012013 212 2 are be VBP mdp.39015011012013 212 3 starting start VBG mdp.39015011012013 212 4 to to TO mdp.39015011012013 212 5 approach approach VB mdp.39015011012013 212 6 the the DT mdp.39015011012013 212 7 minimum minimum NN mdp.39015011012013 212 8 working work VBG mdp.39015011012013 212 9 inventories inventory NNS mdp.39015011012013 212 10 at at IN mdp.39015011012013 212 11 that that DT mdp.39015011012013 212 12 point point NN mdp.39015011012013 212 13 in in IN mdp.39015011012013 212 14 time time NN mdp.39015011012013 212 15 , , , mdp.39015011012013 212 16 but but CC mdp.39015011012013 212 17 in in IN mdp.39015011012013 212 18 terms term NNS mdp.39015011012013 212 19 of of IN mdp.39015011012013 212 20 the the DT mdp.39015011012013 212 21 way way NN mdp.39015011012013 212 22 the the DT mdp.39015011012013 212 23 rest rest NN mdp.39015011012013 212 24 of of IN mdp.39015011012013 212 25 the the DT mdp.39015011012013 212 26 world world NN mdp.39015011012013 212 27 will will MD mdp.39015011012013 212 28 react react VB mdp.39015011012013 212 29 you -PRON- PRP mdp.39015011012013 212 30 can can MD mdp.39015011012013 212 31 not not RB mdp.39015011012013 212 32 expect expect VB mdp.39015011012013 212 33 people people NNS mdp.39015011012013 212 34 who who WP mdp.39015011012013 212 35 have have VBP mdp.39015011012013 212 36 no no DT mdp.39015011012013 212 37 oil oil NN mdp.39015011012013 212 38 to to TO mdp.39015011012013 212 39 sit sit VB mdp.39015011012013 212 40 around around RB mdp.39015011012013 212 41 and and CC mdp.39015011012013 212 42 not not RB mdp.39015011012013 212 43 go go VB mdp.39015011012013 212 44 after after IN mdp.39015011012013 212 45 oil oil NN mdp.39015011012013 212 46 . . . mdp.39015011012013 213 1 The the DT mdp.39015011012013 213 2 reason reason NN mdp.39015011012013 213 3 that that IN mdp.39015011012013 213 4 the the DT mdp.39015011012013 213 5 inventories inventory NNS mdp.39015011012013 213 6 are be VBP mdp.39015011012013 213 7 so so RB mdp.39015011012013 213 8 awfully awfully RB mdp.39015011012013 213 9 high high JJ mdp.39015011012013 213 10 today today NN mdp.39015011012013 213 11 is be VBZ mdp.39015011012013 213 12 that that IN mdp.39015011012013 213 13 people people NNS mdp.39015011012013 213 14 did do VBD mdp.39015011012013 213 15 not not RB mdp.39015011012013 213 16 need need VB mdp.39015011012013 213 17 the the DT mdp.39015011012013 213 18 oil oil NN mdp.39015011012013 213 19 . . . mdp.39015011012013 214 1 They -PRON- PRP mdp.39015011012013 214 2 were be VBD mdp.39015011012013 214 3 afraid afraid JJ mdp.39015011012013 214 4 to to TO mdp.39015011012013 214 5 cut cut VB mdp.39015011012013 214 6 the the DT mdp.39015011012013 214 7 contracts contract NNS mdp.39015011012013 214 8 with with IN mdp.39015011012013 214 9 any any DT mdp.39015011012013 214 10 individual individual JJ mdp.39015011012013 214 11 producers producer NNS mdp.39015011012013 214 12 , , , mdp.39015011012013 214 13 so so RB mdp.39015011012013 214 14 they -PRON- PRP mdp.39015011012013 214 15 just just RB mdp.39015011012013 214 16 kept keep VBD mdp.39015011012013 214 17 buying buy VBG mdp.39015011012013 214 18 and and CC mdp.39015011012013 214 19 stor- stor- JJ mdp.39015011012013 214 20 ing ing UH mdp.39015011012013 214 21 . . . mdp.39015011012013 215 1 The the DT mdp.39015011012013 215 2 reason reason NN mdp.39015011012013 215 3 we -PRON- PRP mdp.39015011012013 215 4 have have VBP mdp.39015011012013 215 5 all all DT mdp.39015011012013 215 6 of of IN mdp.39015011012013 215 7 this this DT mdp.39015011012013 215 8 oil oil NN mdp.39015011012013 215 9 now now RB mdp.39015011012013 215 10 is be VBZ mdp.39015011012013 215 11 because because IN mdp.39015011012013 215 12 people people NNS mdp.39015011012013 215 13 were be VBD mdp.39015011012013 215 14 afraid afraid JJ mdp.39015011012013 215 15 of of IN mdp.39015011012013 215 16 an an DT mdp.39015011012013 215 17 eventuality eventuality NN mdp.39015011012013 215 18 such such JJ mdp.39015011012013 215 19 as as IN mdp.39015011012013 215 20 we -PRON- PRP mdp.39015011012013 215 21 have have VBP mdp.39015011012013 215 22 . . . mdp.39015011012013 216 1 Therefore therefore RB mdp.39015011012013 216 2 , , , mdp.39015011012013 216 3 we -PRON- PRP mdp.39015011012013 216 4 are be VBP mdp.39015011012013 216 5 in in IN mdp.39015011012013 216 6 a a DT mdp.39015011012013 216 7 fairly fairly RB mdp.39015011012013 216 8 fortuitous fortuitous JJ mdp.39015011012013 216 9 position position NN mdp.39015011012013 216 10 now now RB mdp.39015011012013 216 11 . . . mdp.39015011012013 217 1 The the DT mdp.39015011012013 217 2 question question NN mdp.39015011012013 217 3 you -PRON- PRP mdp.39015011012013 217 4 ask ask VBP mdp.39015011012013 217 5 is be VBZ mdp.39015011012013 217 6 this this DT mdp.39015011012013 217 7 . . . mdp.39015011012013 218 1 If if IN mdp.39015011012013 218 2 we -PRON- PRP mdp.39015011012013 218 3 lost lose VBD mdp.39015011012013 218 4 the the DT mdp.39015011012013 218 5 whole whole JJ mdp.39015011012013 218 6 Middle Middle NNP mdp.39015011012013 218 7 East East NNP mdp.39015011012013 218 8 , , , mdp.39015011012013 218 9 what what WP mdp.39015011012013 218 10 would would MD mdp.39015011012013 218 11 happen happen VB mdp.39015011012013 218 12 ? ? . mdp.39015011012013 219 1 We -PRON- PRP mdp.39015011012013 219 2 would would MD mdp.39015011012013 219 3 have have VB mdp.39015011012013 219 4 chaos chaos NN mdp.39015011012013 219 5 if if IN mdp.39015011012013 219 6 you -PRON- PRP mdp.39015011012013 219 7 ask ask VBP mdp.39015011012013 219 8 how how WRB mdp.39015011012013 219 9 long long RB mdp.39015011012013 219 10 it -PRON- PRP mdp.39015011012013 219 11 would would MD mdp.39015011012013 219 12 take take VB mdp.39015011012013 219 13 to to TO mdp.39015011012013 219 14 get get VB mdp.39015011012013 219 15 out out IN mdp.39015011012013 219 16 of of IN mdp.39015011012013 219 17 it -PRON- PRP mdp.39015011012013 219 18 . . . mdp.39015011012013 220 1 I -PRON- PRP mdp.39015011012013 220 2 would would MD mdp.39015011012013 220 3 say say VB mdp.39015011012013 220 4 10 10 CD mdp.39015011012013 220 5 to to TO mdp.39015011012013 220 6 15 15 CD mdp.39015011012013 220 7 years year NNS mdp.39015011012013 220 8 . . . mdp.39015011012013 221 1 We -PRON- PRP mdp.39015011012013 221 2 do do VBP mdp.39015011012013 221 3 not not RB mdp.39015011012013 221 4 have have VB mdp.39015011012013 221 5 sufficient sufficient JJ mdp.39015011012013 221 6 alternative alternative JJ mdp.39015011012013 221 7 energy energy NN mdp.39015011012013 221 8 sources source NNS mdp.39015011012013 221 9 . . . mdp.39015011012013 222 1 Japan Japan NNP mdp.39015011012013 222 2 and and CC mdp.39015011012013 222 3 Western Western NNP mdp.39015011012013 222 4 Europe Europe NNP mdp.39015011012013 222 5 are be VBP mdp.39015011012013 222 6 totally totally RB mdp.39015011012013 222 7 dependent dependent JJ mdp.39015011012013 222 8 upon upon IN mdp.39015011012013 222 9 Middle middle JJ mdp.39015011012013 222 10 Eastern eastern JJ mdp.39015011012013 222 11 oil oil NN mdp.39015011012013 222 12 . . . mdp.39015011012013 223 1 Brazil Brazil NNP mdp.39015011012013 223 2 is be VBZ mdp.39015011012013 223 3 a a DT mdp.39015011012013 223 4 country country NN mdp.39015011012013 223 5 that that WDT mdp.39015011012013 223 6 has have VBZ mdp.39015011012013 223 7 been be VBN mdp.39015011012013 223 8 very very RB mdp.39015011012013 223 9 badly badly RB mdp.39015011012013 223 10 hit hit VBN mdp.39015011012013 223 11 by by IN mdp.39015011012013 223 12 all all DT mdp.39015011012013 223 13 of of IN mdp.39015011012013 223 14 this this DT mdp.39015011012013 223 15 . . . mdp.39015011012013 224 1 If if IN mdp.39015011012013 224 2 you -PRON- PRP mdp.39015011012013 224 3 are be VBP mdp.39015011012013 224 4 saying say VBG mdp.39015011012013 224 5 , , , mdp.39015011012013 224 6 “ " `` mdp.39015011012013 224 7 Well well UH mdp.39015011012013 224 8 , , , mdp.39015011012013 224 9 will will MD mdp.39015011012013 224 10 it -PRON- PRP mdp.39015011012013 224 11 go go VB mdp.39015011012013 224 12 away away RB mdp.39015011012013 224 13 ; ; : mdp.39015011012013 224 14 ” " '' mdp.39015011012013 224 15 it -PRON- PRP mdp.39015011012013 224 16 just just RB mdp.39015011012013 224 17 is be VBZ mdp.39015011012013 224 18 not not RB mdp.39015011012013 224 19 going go VBG mdp.39015011012013 224 20 to to TO mdp.39015011012013 224 21 go go VB mdp.39015011012013 224 22 away away RB mdp.39015011012013 224 23 . . . mdp.39015011012013 225 1 We -PRON- PRP mdp.39015011012013 225 2 have have VBP mdp.39015011012013 225 3 a a DT mdp.39015011012013 225 4 big big JJ mdp.39015011012013 225 5 problem problem NN mdp.39015011012013 225 6 on on IN mdp.39015011012013 225 7 our -PRON- PRP$ mdp.39015011012013 225 8 hands hand NNS mdp.39015011012013 225 9 . . . mdp.39015011012013 226 1 70 70 CD mdp.39015011012013 226 2 Mr. Mr. NNP mdp.39015011012013 226 3 ENGELMYER ENGELMYER NNP mdp.39015011012013 226 4 . . . mdp.39015011012013 227 1 Mr. Mr. NNP mdp.39015011012013 227 2 Edwards Edwards NNP mdp.39015011012013 227 3 , , , mdp.39015011012013 227 4 Mr. Mr. NNP mdp.39015011012013 227 5 Moffett Moffett NNP mdp.39015011012013 227 6 asked ask VBD mdp.39015011012013 227 7 me -PRON- PRP mdp.39015011012013 227 8 to to TO mdp.39015011012013 227 9 ask ask VB mdp.39015011012013 227 10 you -PRON- PRP mdp.39015011012013 227 11 just just RB mdp.39015011012013 227 12 one one CD mdp.39015011012013 227 13 more more JJR mdp.39015011012013 227 14 question question NN mdp.39015011012013 227 15 . . . mdp.39015011012013 228 1 Since since IN mdp.39015011012013 228 2 heating heat VBG mdp.39015011012013 228 3 oil oil NN mdp.39015011012013 228 4 inventories inventory NNS mdp.39015011012013 228 5 are be VBP mdp.39015011012013 228 6 at at IN mdp.39015011012013 228 7 such such PDT mdp.39015011012013 228 8 a a DT mdp.39015011012013 228 9 high high JJ mdp.39015011012013 228 10 level level NN mdp.39015011012013 228 11 , , , mdp.39015011012013 228 12 what what WP mdp.39015011012013 228 13 is be VBZ mdp.39015011012013 228 14 your -PRON- PRP$ mdp.39015011012013 228 15 projection projection NN mdp.39015011012013 228 16 for for IN mdp.39015011012013 228 17 heating heat VBG mdp.39015011012013 228 18 oil oil NN mdp.39015011012013 228 19 prices price NNS mdp.39015011012013 228 20 this this DT mdp.39015011012013 228 21 winter winter NN mdp.39015011012013 228 22 absent absent VBP mdp.39015011012013 228 23 a a DT mdp.39015011012013 228 24 blockade blockade NN mdp.39015011012013 228 25 of of IN mdp.39015011012013 228 26 the the DT mdp.39015011012013 228 27 straits strait NNS mdp.39015011012013 228 28 of of IN mdp.39015011012013 228 29 Hormuz Hormuz NNP mdp.39015011012013 228 30 ? ? . mdp.39015011012013 229 1 Mr. Mr. NNP mdp.39015011012013 229 2 Edwards Edwards NNP mdp.39015011012013 229 3 . . . mdp.39015011012013 230 1 I -PRON- PRP mdp.39015011012013 230 2 would would MD mdp.39015011012013 230 3 not not RB mdp.39015011012013 230 4 expect expect VB mdp.39015011012013 230 5 them -PRON- PRP mdp.39015011012013 230 6 to to TO mdp.39015011012013 230 7 increase increase VB mdp.39015011012013 230 8 . . . mdp.39015011012013 231 1 In in IN mdp.39015011012013 231 2 fact fact NN mdp.39015011012013 231 3 , , , mdp.39015011012013 231 4 with with IN mdp.39015011012013 231 5 the the DT mdp.39015011012013 231 6 competition competition NN mdp.39015011012013 231 7 that that WDT mdp.39015011012013 231 8 we -PRON- PRP mdp.39015011012013 231 9 are be VBP mdp.39015011012013 231 10 seeing see VBG mdp.39015011012013 231 11 from from IN mdp.39015011012013 231 12 an an DT mdp.39015011012013 231 13 overabundance overabundance NN mdp.39015011012013 231 14 of of IN mdp.39015011012013 231 15 supply supply NN mdp.39015011012013 231 16 , , , mdp.39015011012013 231 17 I -PRON- PRP mdp.39015011012013 231 18 think think VBP mdp.39015011012013 231 19 some some DT mdp.39015011012013 231 20 terminal terminal JJ mdp.39015011012013 231 21 operators operator NNS mdp.39015011012013 231 22 who who WP mdp.39015011012013 231 23 are be VBP mdp.39015011012013 231 24 hurting hurt VBG mdp.39015011012013 231 25 from from IN mdp.39015011012013 231 26 the the DT mdp.39015011012013 231 27 impact impact NN mdp.39015011012013 231 28 of of IN mdp.39015011012013 231 29 carrying carry VBG mdp.39015011012013 231 30 inventories inventory NNS mdp.39015011012013 231 31 long long JJ mdp.39015011012013 231 32 term term NN mdp.39015011012013 231 33 , , , mdp.39015011012013 231 34 I -PRON- PRP mdp.39015011012013 231 35 think think VBP mdp.39015011012013 231 36 we -PRON- PRP mdp.39015011012013 231 37 might may MD mdp.39015011012013 231 38 see see VB mdp.39015011012013 231 39 heating heat VBG mdp.39015011012013 231 40 oil oil NN mdp.39015011012013 231 41 prices price NNS mdp.39015011012013 231 42 through through IN mdp.39015011012013 231 43 the the DT mdp.39015011012013 231 44 winter winter NN mdp.39015011012013 231 45 actually actually RB mdp.39015011012013 231 46 be be VB mdp.39015011012013 231 47 lower low JJR mdp.39015011012013 231 48 than than IN mdp.39015011012013 231 49 they -PRON- PRP mdp.39015011012013 231 50 were be VBD mdp.39015011012013 231 51 this this DT mdp.39015011012013 231 52 past past JJ mdp.39015011012013 231 53 summer summer NN mdp.39015011012013 231 54 . . . mdp.39015011012013 232 1 Mr. Mr. NNP mdp.39015011012013 232 2 ENGELMYER ENGELMYER NNP mdp.39015011012013 232 3 . . . mdp.39015011012013 233 1 Thank thank VBP mdp.39015011012013 233 2 you -PRON- PRP mdp.39015011012013 233 3 . . . mdp.39015011012013 234 1 Mr. Mr. NNP mdp.39015011012013 234 2 SYNAR SYNAR NNP mdp.39015011012013 234 3 . . . mdp.39015011012013 235 1 I -PRON- PRP mdp.39015011012013 235 2 would would MD mdp.39015011012013 235 3 like like VB mdp.39015011012013 235 4 to to TO mdp.39015011012013 235 5 thank thank VB mdp.39015011012013 235 6 all all DT mdp.39015011012013 235 7 of of IN mdp.39015011012013 235 8 the the DT mdp.39015011012013 235 9 witnesses witness NNS mdp.39015011012013 235 10 who who WP mdp.39015011012013 235 11 testi- testi- VBD mdp.39015011012013 235 12 fied fied JJ mdp.39015011012013 235 13 today today NN mdp.39015011012013 235 14 . . . mdp.39015011012013 236 1 I -PRON- PRP mdp.39015011012013 236 2 think think VBP mdp.39015011012013 236 3 this this DT mdp.39015011012013 236 4 has have VBZ mdp.39015011012013 236 5 been be VBN mdp.39015011012013 236 6 one one CD mdp.39015011012013 236 7 of of IN mdp.39015011012013 236 8 the the DT mdp.39015011012013 236 9 more more RBR mdp.39015011012013 236 10 informative informative JJ mdp.39015011012013 236 11 meetings meeting NNS mdp.39015011012013 236 12 of of IN mdp.39015011012013 236 13 the the DT mdp.39015011012013 236 14 subcommittee subcommittee NN mdp.39015011012013 236 15 . . . mdp.39015011012013 237 1 If if IN mdp.39015011012013 237 2 there there EX mdp.39015011012013 237 3 are be VBP mdp.39015011012013 237 4 no no DT mdp.39015011012013 237 5 other other JJ mdp.39015011012013 237 6 questions question NNS mdp.39015011012013 237 7 , , , mdp.39015011012013 237 8 the the DT mdp.39015011012013 237 9 subcommittee subcommittee NN mdp.39015011012013 237 10 is be VBZ mdp.39015011012013 237 11 adjourned adjourn VBN mdp.39015011012013 237 12 . . . mdp.39015011012013 238 1 [ [ -LRB- mdp.39015011012013 238 2 Whereupon Whereupon NNP mdp.39015011012013 238 3 , , , mdp.39015011012013 238 4 at at IN mdp.39015011012013 238 5 12:35 12:35 CD mdp.39015011012013 238 6 p.m. p.m. NN mdp.39015011012013 238 7 , , , mdp.39015011012013 238 8 the the DT mdp.39015011012013 238 9 subcommittee subcommittee NN mdp.39015011012013 238 10 adjourned adjourn VBD mdp.39015011012013 238 11 , , , mdp.39015011012013 238 12 to to IN mdp.39015011012013 238 13 recon- recon- NNP mdp.39015011012013 238 14 vene vene NNP mdp.39015011012013 238 15 subject subject NNP mdp.39015011012013 238 16 to to IN mdp.39015011012013 238 17 the the DT mdp.39015011012013 238 18 call call NN mdp.39015011012013 238 19 of of IN mdp.39015011012013 238 20 the the DT mdp.39015011012013 238 21 Chair Chair NNP mdp.39015011012013 238 22 . . . mdp.39015011012013 238 23 ] ] -RRB- mdp.39015011012013 239 1 O o UH