Implications of the peak oil crisis

5 Comments on "Implications of the peak oil crisis"

Revi on Wed, 10th Jun 2015 8:18 am 



Why did they use that crap footage at the beginning?

Revi on Wed, 10th Jun 2015 8:20 am 



They should have used the few seconds before it hit the IED and moved on to the message. In my humble opinion.

ghung on Wed, 10th Jun 2015 9:13 am 



No link? Looks old (6 billion people?).
Love this part: … “America has been called on again to lead the way can we meet the challenge? Called on by whom?

Move on. Looks to have been created by some angry illiterate juvenile for angry illiterate juveniles.

BobInget on Wed, 10th Jun 2015 9:44 am 



I’ll post this week’s EIA report here.

Summary of Weekly Petroleum Data for the Week Ending June 5, 2015

U.S. crude oil refinery inputs averaged 16.6 million barrels per day during the week
ending June 5, 2015, 169,000 barrels per day more than the previous week’s average.
Refineries operated at 94.6% of their operable capacity last week. Gasoline production
increased last week, averaging 10.0 million barrels per day. Distillate fuel production
increased last week, averaging 5.1 million barrels per day.

U.S. crude oil imports averaged over 6.6 million barrels per day last week, down by
750,000 barrels per day from the previous week. Over the last four weeks, crude oil
imports averaged about 7.0 million barrels per day, 2.3% below the same four-week
period last year. Total motor gasoline imports (including both finished gasoline and
gasoline blending components) last week averaged 666,000 barrels per day. Distillate
fuel imports averaged 181,000 barrels per day last week.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum
Reserve) decreased by 6.8 million barrels from the previous week. At 470.6 million
barrels, U.S. crude oil inventories remain near levels not seen for this time of year in at
least the last 80 years. Total motor gasoline inventories decreased by 2.9 million barrels
last week, but are in the upper half of the average range. Finished gasoline inventories
increased while blending components inventories decreased last week. Distillate fuel
inventories increased by 0.9 million barrels last week and are in the middle of the average range for this time of year.

Propane/propylene inventories rose 1.7 million barrels last
week and are well above the upper limit of the average range. Total commercial
petroleum inventories decreased by 0.6 million barrels last week.

Total products supplied over the last four-week period averaged over 19.7 million barrels
per day, Up by 5.1% from the same period last year. Over the last four weeks, motor
gasoline product supplied averaged 9.4 million barrels per day, Up by 3.8% from the
same period last year. Distillate fuel product supplied averaged over 3.9 million barrels
per day over the last four weeks, Down by 1.7% from the same period last year.
Jet fuel
product supplied is Up 8.7% compared to the same four-week period last year

BobInget on Wed, 10th Jun 2015 10:08 am 



My opinion aside, this is a bullish report.

Predictions were in the range 1.5 Million B
draw. 6.8 Million barrels were drawn from storage. Much due to Memorial Day travel.
Still, up almost 4% over last year at this time.

The excitement over energy equities began
over a bullish report two weeks ago, cumulating on today’s numbers.

Most encouraging for the over-all economy
must be the continuing high consumption rates for jet fuel. Up 8.7% over last year.
Jet fuel is a favorite benchmark for my investing decisions.

Look for ‘adjusted’ numbers next week.
I’m questioning 9.7 M B p/d as too little.

Obviously, chart watchers are wondering when Saudis will begin to cover.
for an exciting time dial this number..
http://www.livecharts.co.uk/MarketCharts/crude.php
More to the point, can Goldman hold the line
somewhere below $62. for this week?
I believe they might, given KSA’s determination.