 | World Energy to 2050: A Half Century of Decline | The Oil Drum | Peak oil: BP, Conoco CEOs say it's here - also IEA's Fatih Birol really freaks out |  |
95 comments on DrumBeat: November 11, 2007
Comments can no longer be added to this story.
Show without comments | PDF version
95 comments on DrumBeat: November 11, 2007
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
TOD:Europe
- Oilwatch Monthly November 2009
- Some predictions on the forthcoming Russian-Ukrainian gas 'crisis'
- The US stimulus and "green jobs" for wind energy
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
- Australian Senate: Peak Oil motion defeated 31:6
- The Bullroarer - Friday 20th November 2009
- The Bullroarer - Friday 13th November 2009
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.
“Men argue; nature acts.”
—Voltaire
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
Hi Leanan,
There are two possible causes for low crude inventory.
1. Demand for refined products is high.
2. Refiners see price/demand falling so start destocking crude. If they think the price will fall they will hold off.
The oil price slumped in 1997 when the Asian financial crisis happened because of destocking, and believe me, the economy is not doing well - the economists at the investment bank where I work see problems everywhere.
Maybe you are right, Leanan, but making money in the futures markets can never be easy. I'm back-pedalling from $100. It's just too neat and tidy for me. (I'm not a trader by the way!).
The causes for low inventory I'm thinking about are the disruption in Mexico due to weather (which will probably show up in the numbers this Thursday), and possibly shut-in production from Ursa and Mars (if the rumors are correct - Shell said they would issue a statement, but never did).