<In the beginning of the fourth quarterThe Oil DrumRevisiting the barrels per rig issue>

70 comments on ANWR, and a midweek open thread

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Slippery Slope on November 3, 2005 - 7:52pm Permalink | Subthread | Parent | Comments top
So the SPR drawdown of about 5 million barrels (and also Europe and Japan SPR drawdowns) will create a new future demand to refill them.  I wonder how soon that will happen.  This summer the US Congress authorized the filling of the US SPR from its then current maximum of 700 million barrels to a new maximum of one billion barrels - a 300 million barrel increase!

Suppose that conventional crude oil has peaked this year.  Then the 300+ million barrels will have to effectively come from deepwater, and so forth.

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peakearl on November 3, 2005 - 8:08pm Permalink | Subthread | Parent | Comments top
The SPR was at 701 million bls in mid-august, now is 685 for a draw-dawn of 15 million barrels so far, which is supposed to be a loan.
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