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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Roebear who wrote (74306)9/22/2000 8:35:36 PM
From: Think4Yourself  Read Replies (3) of 95453
 
It is SO easy to prove this SPR stuff is purely for the consumption of the "gullible" public. Let's do some basic math...

From the DOE's Weekly Petroleum Status Report, the 4 week daily average input to all US refineries put together is:
(15,623+15,787+15,765+15,318)/4 = 15.623 million barrels per day

The WPSR also says maximum refinery capacity is 16.1 million barrels/day.

Now my math isn't as good as the Prez or the Energy Secretary but by my calculations their own numbers indicate that there is 16.1 - 15.623 = 477K barrels max additional capacity per day. At 100% utilization the refineries could process an extra 477K barrels per day.

In other words, IF no refinery were down for any reason in the next month AND they were ALL running all out every minute of every day then 14.3 million barrels of the 30 million barrels could be processed. The other 15.7 million barrels are going to sit in storage somewhere.

Looking at refineriy utilizations for the past year, another thought occurred to me. If we are having a shortage of crude of "crisis" proportions requiring government intervention, why are the refineries operating at record high levels? Shouldn't they be running at much lower levels due to shortages of crude or other feedstocks?

It's ALL political, ALL of it.
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