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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Webster Groves who wrote (101097)	5/18/2008 7:58:28 PM
From: 8bits	Read Replies (2) \| Respond to of 206359

If we took all this this fuel and put it back into the domestic market, what do you think the price of gas would be ? energybulletin.net From the article you posted: "US military fuel consumption increased to 144 million barrels. This is about 40 million barrels more than the average peacetime military usage. By the way, 144 million barrels makes 395 000 barrels per day." So having a war time posture in theory suggests a net gain of consumption of 40/144 x 395,000 of 109,000 barrels a day. To put that in perspective that is the output of one well (albeit a doozy) when Spindletop was discovered: en.wikipedia.org Also that would be 1/8 of the net increase in consumption by China from 2007 to 2008: eia.doe.gov "Chinese oil imports in March showing an increase of 0.8 million bbl/d from year-earlier levels. OECD oil consumption is projected to remain relatively unchanged, with growth in consumption in Europe, where weather factors constrained oil consumption in 2007, offsetting declines in the United States." And of course the Saudis just announced that they would placing 3 times that much (or already have..) oil on the market. And the price response was basically nil.