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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Think4Yourself who wrote (47565)7/8/1999 1:21:00 PM
From: Brent Hogenson  Read Replies (1) of 95453
 
Food for thought

The world uses approximately 75 mbpd, U.S. portion of that is 19 and change. If the U.S. is producing approximately 9 mbpd, then we are importing 10 million bpd.

OPEC exports about 25 mbpd and if Non-OPEC contributes another 15 mpbd (rough estimate but it makes the math easier) the total exports per day are 40 million.

Therefore the U.S. is importing 25% of the world's exports and so we should have 25% of the world's draw down. If the current draw down is 1 mbpd, then our weekly draw down should be 1.75 mbpd. If this draw down steps up to 2 mbpd which is what some people are projecting for the 3rd quarter, then our weekly API numbers should be down 3.5 mbpd.

With this in mind, how can the OSX see the 60's again? We are going to have Slider's magic 320 storage # by the first week of August. Can somebody find fault with my logic?
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