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Record US Crude Oil Supply Back To 1980

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Record US Crude Oil Supply Back To 1980

Unread postby Hughj » Sun 19 Jun 2011, 23:00:07

Here comes July 2008 all over again. Record crude stocks, gasoline consumption off 7%.

http://www.bloomberg.com/news/2011-06-1 ... -says.html
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Re: Record US Crude Oil Supply Back To 1980

Unread postby SpockLives » Sun 19 Jun 2011, 23:26:01

$this->bbcode_second_pass_quote('Hughj', 'H')ere comes July 2008 all over again. Record crude stocks, gasoline consumption off 7%.

http://www.bloomberg.com/news/2011-06-1 ... -says.html


When the proverbial hammer falls on you, or you are struck by lightning on a clear day, don't say I didn't warn you. There are facts, and then there are facts. Facts which don't line up with preordained conclusions are rarely appreciated.
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Re: Record US Crude Oil Supply Back To 1980

Unread postby yeahbut » Mon 20 Jun 2011, 00:41:58

$this->bbcode_second_pass_quote('SpockLives', 'd')on't say I didn't warn you


Errr...so what is the warning exactly? It sounds important, I want to make sure we all know just what it is so we can plan accordingly. That whole hammer and lightning situation sounds dangerous.
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Re: Record US Crude Oil Supply Back To 1980

Unread postby SpockLives » Mon 20 Jun 2011, 09:32:36

$this->bbcode_second_pass_quote('yeahbut', '')$this->bbcode_second_pass_quote('SpockLives', 'd')on't say I didn't warn you


Errr...so what is the warning exactly?


I told him that resistance is futile. Become one with the collective or suffer the consequences.
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Re: Record US Crude Oil Supply Back To 1980

Unread postby astalavista_b » Tue 21 Jun 2011, 07:37:24

North Dakota has an effect on the production increase:

"Mar Oil 11,168,656 barrels = 360,279 barrels/day
Apr Oil 10,535,492 barrels = 351,183 barrels/day (preliminary) (all time high 360,279
Mar 2011)
Mar Gas 11,063,666 MCF = 356,892 MCF/day
Apr Gas 10,758,355 MCF = 358,611 MCF/day (preliminary) (all time high)
Mar Producing Wells = 5,439
Apr Producing Wells = 5,536 (all time high) "

https://www.dmr.nd.gov/oilgas/directorscut/directorscut-2011-06-20.pdf

Production is raised from 100ths to 350ths per day from 2005 to 2010. That can be explained by the raising oil prices which makes oil drilling more profitable.

https://www.dmr.nd.gov/oilgas/stats/DailyProdPrice.pdf
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