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Politics : Politics of Energy -- Ignore unavailable to you. Want to Upgrade?

To: J_F_Shepard who wrote (1535)	8/15/2008 1:04:12 PM
From: TimF	Read Replies (1) \| Respond to of 86355

What would there be quantitative to show for a statement like the one in the post your replied to? What exactly do you mean? Something quantitative about "That buffer is smaller than it has been in previous years."? OK "Low OPEC spare capacity levels increase the demand for inventories. EIA currently estimates that global surplus crude oil production is about 1.0-1.3 million bbl/d, down from 5.6 million bbl/d as recently as 2002 (See Figure 2). The reduced level of spare production capacity significantly increases the risk to oil prices from a disruption to supply because as many as 20 different countries currently produce at least 1 million barrels per day, including countries such as Iran, Iraq, Nigeria, and Venezuela. " eia.doe.gov