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Politics : Welcome to Slider's Dugout
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To: RonMerks who wrote (9136)4/11/2008 2:08:36 PM
From: JimisJim  Read Replies (2) of 50752
 
What increased oil supplies? Production has been running flat out and haven't seen any significant increase in daily production... perhaps there has been slight demand destruction, but so far the data suggests that it is because demand is growing more slowly, but is still growing nonetheless worldwide YOY.

I've been reading and hearing about a wall of oil coming to market this year from several "megaprojects" finally producing first oil. And yet I still don't see any significant increase in production.

I see some temporary supply increases when refineries process less crude for a number of reasons (maintenance, accidents, shutdowns, etc.), but only because the refiners have problems at times and can't process as much, so a temporary glut appears knocking on the refiners' doors... but these never last more than a few days/weeks.

I see that there are 10,000 new cars every day in India and a like number in China...

I guess I just don't get it. Where are these increased oil supplies? What am I missing?

Jim
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