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This is terrible: what is MOL? I'm hoping, hoping, hoping it's not too obvious.
You're better than me. I was afraid to ask.
Minimum Operating Level. The oil products (gasoline, etc.) required to keep the system operating. Pipelines full, barges of gasoline in transit from refinery to the filling station nearest you, quarter full tanks at the deport nearest you to fill up the gasoline tankers.
I THINK it also includes gasoline at the corner filling station as well (it should).
The minimum inventory required to prevent spot shortages.
Best Hopes for Spot Shortages and High Prices (except at harvest time),
Alan
Minimum Operating Level of the Distribution pipelines. It goes in one end, they take it out at the other. But the pipe has to be full to work. Last figure I saw was 185 million barrels. That's what's in the pipeline you can't take out. The minimum amount necessary to keep the fuel flowing through the pipeline. In other words, if you have 195 million barrels, you can only take out 10 million barrels.
How our distribution pipelines work.
http://www.eia.doe.gov/oiaf/servicerpt/ulsd/pdf/appendix_c.pdf