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Politics : Sioux Nation -- Ignore unavailable to you. Want to Upgrade?

To: Wharf Rat who wrote (72968)	7/12/2006 12:13:38 PM
From: manalagi	Read Replies (2) \| Respond to of 361102

Yes, I own gold and silver, but why not oil? Look at Marathon Oil, and Valero is better than Exxon, and Conoco Phillips is better than Chevron. Ethanol is a joke. One gallon of Ethanol has 76,000 BTU as compared to 114,000 BTU/gallon of gasoline. Have you noticed that your gas mileage in you car has decreased? It is not because it is getting old, but because the state mandated 10% ethanol in gasoline. Ethanol: the power of corn lobbiest, and the ignorance of the administration. A "C" from Harvard MBA.

To: Wharf Rat who wrote (72968)	7/12/2006 12:15:42 PM
From: Wharf Rat	Read Replies (1) \| Respond to of 361102

Update by Leanan on 07/12/06 at 10:48 AM EDT] The Summary of Weekly Petroleum Data for the Week Ending July 7, 2006 has been released. There was a big draw on crude inventories. Price of oil is heading skyward. eia.doe.gov westexas on Wednesday July 12, 2006 at 10:47 AM EST Re: My "Export Land" Model--Ladies & Gentlemen, this ain't rocket science The latest EIA data show a big drop in crude oil inventories, because of big drop in crude oil imports. As I predicted, total US petroleum imports, on a four week running average, have started falling again--and oil prices have started rising again. IMO, the pattern that we will see for years and probably decades to come is the following: (1) a drop in oil exports; (2) followed by an increase in oil prices, as remaining exports go to the highest bidder, followed by (3) a period of relative stability, and then the cycle starts all over again. We had one complete cycle this spring, and IMO we at the start of another cycle right now. What amazed me this past spring was the number of people that kept trying to explain how falling petroleum imports and rising oil prices meant that we had plenty of oil. Look at the consumption numbers--up in the US and China and way up in many oil exporting countries--while world crude + condensate production, as predicted by the HL method, is down 1% since December. Someone has to be cutting back. As I said, this ain't rocket science. What baffles me is that anyone is contesting the hard cold facts. How in the world can you predict rising oil production when the four largest producing oil fields are all past their peak production? I suspect that Ghawar and Cantarell are both on the verge of catastrophic declines. theoildrum.com