[mekrob]

Oil and Gas Journal's April 9th print edition on page 6 shows some very interesting numbers for the year to date averages of this year compared to last year.

Motor gasoline demand is up 2.2% from 8.897 mpd to 9.093 mpd.
Crude production (US) is up 5.0% from 5.037 mpd to 5.290 mpd.
Total Demand is also up 2.7% from 20.374 mpd to 20.915 mpd.

Most surprising to me is the increase in crude production. What has made it jump 5% in a single year when we usually decrease by 2-3% per year? Is it just because of resumption of activities in the Gulf after Katrina and Rita?

[Madpaddy]

http://tonto.eia.doe.gov/dnav/pet/hist/mcrfp4e1m.htm

Looks like a recovery after 2005 disaster to me.

[MD]

Strong demand and high price bringing previously marginal production back into play.

Remember that new production is subject to increased development cost due to increased energy costs but existing production can be brought back on line to take advantage of high prices.

It's no surprise. It won't be significant or long-lasting either.

Energy use patterns will have to change. Say goodbye to easy motoring.

[pup55]

$this->bbcode_second_pass_quote('', 'L')ooks like a recovery after 2005 disaster to me.

[kmann]

It was the gulf hurricanes. I remember reading MMS reports on recovery efforts well into 2006. Some 200,000 bbl/day of production was permantly lost because of the storms IIRC.

[Coolman]

It is probably just a small jump from deep water. Even ASPO predicted this. The ride will resume soon. By 2020 US production should be way down.

http://www.markt-daten.de/Chartbook/ima ... ak-oil.gif

[Gazzatrone]

OK, fess-up! Who turned the graph upside-down?

[bonjaski]

this shows that oil production still is only a matter of price,

we alle know that we have enough fossil hydrocarbons for the next 200years,
its only a matter of price to turn them in something useful

[Newsseeker]

200,000 barrels is still not that much

[Gazzatrone]

$this->bbcode_second_pass_quote('bonjaski', 't')his shows that oil production still is only a matter of price,

we alle know that we have enough fossil hydrocarbons for the next 200years,
its only a matter of price to turn them in something useful