The January 2010 edition of Oilwatch Monthly can be downloaded at this weblink (PDF, 1.24 MB, 33 pp).

The Oilwatch Monthly is a newsletter that is available free of charge with the latest data on oil supply, demand, oil stocks, spare capacity and exports.

A summary and latest graphics below the fold.

I "moved up" this post from Saturday, so the continuing British natural gas shortage could continue to be discussed, without having to look too far. - Gail

A cold spell facing the United Kingdom has caused anxiety over the security of the country's natural gas supplies. The Conservative Party warns that a gas shortage is about to hit the UK due to a lack of storage capacity. In response, National Grid, owner of the UK gas transmission system, states that there is "no danger of the UK running short of gas".

In the past several weeks, we have seen many reports such as this:

Colonial Pipeline Limits Gasoline Supply Shipments for Cycle 70

Colonial Pipeline Co., which operates the largest pipeline linking U.S. Gulf Coast refiners and East Coast markets, will limit shipments of gasoline because orders exceed the company’s ability to deliver fuel on time.

The Alpharetta, Georgia-based company issued the requirement, known as an allocation, in a bulletin to shippers for the 70th cycle. The restriction applies to shipments on Colonial pipelines north of Collins, Mississippi.

Companies will be able to ship a pro-rated portion of their original nomination, based on their shipping history over the past year, according to Colonial.

With the assistance of Jane Van Ryan at API, I contacted to Steve Baker at Colonial Pipeline, to find out what is happening. I discovered the oversubscription seems to be related to refinery shutdowns in the Northeast.

This is a guest contribution by Dr Walter Youngquist, best known for GeoDestinies, his classic text on global resources and their depletion that was first published in 1997. I had the good fortune to meet Dr Youngquist at the ASPO conference in Houston two years ago and since then we have shared regular correspondence. Dr Youngquist (now aged 88) is updating GeoDestinies and last week he sent me this piece, seeking opinion. I always find his prose to be eloquent, simple, often understated and as a result very powerful.

I asked if we could publish this short piece on The Oil Drum and he kindly agreed. Many readers of The Oil Drum might feel that they already know much of what is written here, but you need to stop and ask how it is that we know what we know? When the new edition of GeoDestinies is published I'd warmly recommend this to Oil Drum readers as a well referenced, well written source spanning energy, soils, water, metals and population.