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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: Umunhum who wrote (102149)	6/5/2008 3:59:10 PM
From: Umunhum	Read Replies (2) of 206223

This needs to be repeated: Venezuela and Mexico are critically important to the US because of their proximity to the refineries on the Gulf Coast. From what I have been able to discern, it takes an average of about five days for a tanker to get to the US from Venezuela and Mexico versus about 30 days from the Persian Gulf. Based on recent news reports, it certainly appears that the overall net export decline from Venezuela and Mexico is continuing into 2008. So, what has happened to net oil exports from Venezuela & Mexico to the US and what effect has had this had on Gulf Coast crude oil inventories, and why am I concerned? This EIA website has net oil imports into the US by country of origin, through March, 2008. tonto.eia.doe.gov. The data show that combined net oil exports from Venezuela & Mexico to the US have dropped by 414,000 bpd from 10/07 to 3/08, an astounding annual decline rate of -32%/year. This decline was at least partially offset by increases in imports from the Persian Gulf. theoildrum.com Take a look at what the price of oil has done since October when Mexican and Venezuelan exports to the U.S. started crashing: futuresource.quote.com

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