6 comments on MMS Shut-In Report on Subtropical Depression Ten
Comments can no longer be added to this story.
| Show without comments | PDF version
6 comments on MMS Shut-In Report on Subtropical Depression Ten
Comments can no longer be added to this story.
| Show without comments | PDF version
Search The Oil Drum with Google
Support The Oil Drum
Recently on TOD:World
TOD:Campfire
- What "Lower Consumption" Means
- Tricking and Treating the Future
- Meeting Energy Decline Part-Way - Potatoes?
TOD:Europe
- The Future of Nuclear Energy: Facts and Fiction - Part IV: Energy from Breeder Reactors and from Fusion?
- The US stimulus and "green jobs"
- EROWI - energy return of water invested
TOD:Canada
- In this house, we obey the laws of thermodynamics!
- The Round-Up: October 24, 2008
- Compressed Air Energy Storage - How viable is it?
TOD:Australia/NZ
- The Bullroarer - Saturday 7th November 2009
- The Bullroarer - Friday 30th October 2009
- Details of Solar Flagships Released
TOD:Net Energy
Blogroll
Energy Sites
- The Coming Global Oil Crisis
- Die Off
- Dry Dipstick
- Energy Bulletin
- From the Wilderness
- Life After the Oil Crash
- Peak Oil Crisis
- Peak Oil News and Message Boards
- Powerswitch
- Rigzone
- Matthew Simmons
- Wolf at the Door
Environment & Sustainability Sites
- The Daily Green
- EcoGeek
- Eco Street
- Green Car Congress
- Green Options
- green.alltop.com
- Gristmill
- RealClimate
- Sustainablog
- Treehugger
- WorldChanging
Blogs
- The Big Picture
- Casaubon's Book
- Cleantech Blog
- Clusterf
k Nation (Jim Kunstler) - The Cost of Energy
- David Strahan
- The Energy Blog
- Entropy Production
- European Tribune
- GraphOilology
- Health After Oil
- jeffvail.net
- Mobjectivist
- Peak Energy (Australia)
- Peak Energy (USA)
- R-Squared
- Resource Insights
Finance & Economics Blogs
- Calculated Risk
- The Crash Course
- Ecological Economics
- Econbrowser
- Environmental Economics
- Infectious Greed
- The Mess That Greenspan Made
- Mish's Global Economic Trend Analysis
Organizations
Peak Oil Primers
Beware email scams!
Beware email scams claiming to be from this site. We do not have any job openings. If anyone contacts you about a job at The Oil Drum, do not reply to them, and definitely do not give them any personal information or send them money. Read more here.
“The aim of every political constitution is, or ought to be, first to obtain for rulers men who possess most wisdom to discern, and most virtue to pursue, the common good of the society; and in the next place, to take the most effectual precautions for keeping them virtuous whilst they continue to hold their public trust.”
—James Madison, FEDERALIST #57 (1787)
User login
Contact
- Content: editors at theoildrum dot com
- Tech support: support at theoildrum dot com
Personnel
- Editors: Nate Hagens, Gail the Actuary, Prof. Goose
- DrumBeat Editor: Leanan
- Contributors: ace, Engineer-Poet, Heading Out, jeffvail, JoulesBurn, Sam Foucher, Robert Rapier
- TOD:Campfire: Glenn, Jason Bradford
- TOD:Europe: Chris Vernon, Euan Mearns, Francois Cellier, Jerome a Paris, Luís de Sousa, Rembrandt, Rune Likvern, Ugo Bardi
- TOD:Canada: benk, Libelle
- TOD:ANZ: Big Gav, Phil Hart, aeldric
- Emeritus: Stuart Staniford
- Technician: Super G
License
This work is licensed under a Creative Commons Attribution-Share Alike 3.0 United States License.
GAIA Host Collective
So... 62.7% of 1.3 mbpd means the US just lost 815,100 bpd. Crude oil consumption for June in the US (latest available data) was 622,095,000 barrels or 20,736,500 barrels per day. So for the duration of TD10, the US just lost 3.9% of its total crude oil supply. If we assume 3 days of shut-in (reasonable, might be 4) we are at about 2.5 million barrels lost. Have we seen 2.5 million barrels of refining capacity go offline yet for turn-around? If not, I'd expect lower crude inventories next week just on the TD10 data alone, unless someone can explain what other factors might change that.
"The greatest shortcoming of the human race is our inability to understand the exponential function." -- Dr. Albert Bartlett
Into the Grey Zone
And, gasoline stocks lower due to the Valero plant just reaching 100% today after 10 days down.
Actually I haven't confirmed they are restarted yet, they just planned to be up today.
Traders Perspective:
we're going to take out this week's highs.
If these numbers are correct, we may see 90-
the bids are just too high. We saw a jump from 81-84 in an hour from the bidding to get the oct contract.
Likely monday may see one of the usual "V" patterns that we have seen all over the commodities sectors recently. Tuesday, folks will be trying to beat the inventory report, and before the inventory report it could get even worse, and afterwards, looking at this recent news data point, its going to be another very bad week with a very large draw on both crude and gasoline. the MSM is going to try to focus on heating oil, but crude is where the attention is. But the numbers are there for everyone to see. Likely short covering rally after the report, which could take us lord knows how high. Maybe another "V" pattern thursday as those who really need the contracts, and not the hedge funds, will have learned from their mistake this week and be buying heavily after the inventory report to beat the rush.
And the week after and after that likely more rallies.
I think this is without the effect of geo-political events which would have us see 100 in matter of minutes. This is the world we live in.
are you long?