44 comments on A Few Thoughts on US Petroleum Demand, Inventories, and Prices
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44 comments on A Few Thoughts on US Petroleum Demand, Inventories, and Prices
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GAIA Host Collective
The demand number they use is weird. Usage is probably a better word. I think the EIA calls it Products Supplied. Implied demand is a bit different horse.
Excellent question if we ask will the US ever use more than we did in 2006/07. Sobering really. If the answer is no, we will never grow GDP again. Ever.
I think that may be a bit extreme. The Kingdom will have 3-5 MMdb of spare capacity when the normal cycle turns in late 2010 so that will allow hyper-charged grown until maybe 2012. I think oil might be $175 a barrell then and Pres. Obama will be on his way out and right wing republican will win promising to 'guarantee American access to oil' using 'any means necessary'. Then we fight China for the last drops.
Well, I got off on a tangent. for a first post that was rather depressing.
PooBah
I agree--demand is not a very good word for it. Product supplied really describes the situation better.
Glad to have you as a commenter!
Naw, they just use different words in different places but the figures are exactly the same. They use the word Demand here.
http://www.eia.doe.gov/emeu/ipsr/t17.xls
And they use the words Petroleum Products Supplied here.
(Excel) http://tonto.eia.doe.gov/merquery/mer_data.asp?table=T03.01
(PDF) http://www.eia.doe.gov/emeu/mer/pdf/pages/sec3_3.pdf
But if you check the numbers, they are exactly the same. The latter numbers however from their Monthly Energy Review are always two to three months ahead of the former numbers from their International Petroleum Monthly
Ron