Countdown to $50 oil (4) | 7 comments (7 topical, editorial, 0 hidden)

Re: Countdown to $50 oil (4) (none / 0)

the thing that surprise me the most has been the drop of 19% of oil importation by Australia in july.

i would never though that oil consumption could be so elastic.

by fredouil (fredouil@gmailgmailgmail.com) on Fri Sep 8th, 2006 at 09:02:04 AM EST

Re: Countdown to $50 oil (4) (none / 0)

I don't think the Aussies have more than about 5 refineries. You may have one in shutdown. I'd check on that before I concluded a 19% drop.

I'd also look at rolling 3 month averages. Any one month can be misleading. Why the oil biz turns on it's head over weekly stats I never understood.

by HiD on Fri Sep 8th, 2006 at 05:09:48 PM EST
[ Parent ]

Re: Countdown to $50 oil (4) (none / 0)

Neither have I.

Peak oil is not an energy crisis. It is a liquid fuel crisis.

by Starvid on Fri Sep 8th, 2006 at 06:02:05 PM EST
[ Parent ]

Re: Countdown to $50 oil (4) (none / 1)

Talking about stats, it's the games played on the LME that I love.

People shift piles of metal across the white line in a warehouse - so it's "off-warrant" - and all of a sudden LME stocks are down and the price rockets.

Best Market there is.

"The future is already here -- it's just not very evenly distributed" William Gibson

by ChrisCook (cojockathotmaildotcom) on Sat Sep 9th, 2006 at 10:56:17 AM EST
[ Parent ]

Re: Countdown to $50 oil (4) (none / 0)

In the old days, people alleged that trader refiners would hold out VLCCs of crude just so they'd miss the deadline for API/DOE reporting.......a 2 million bbls swing can make a difference as you well know.

there were a couple of players I'd believe it of.

If was even worse when the API's came out a day before the DOEs. No legal requirement to tell the API the truth.

by HiD on Sun Sep 10th, 2006 at 01:32:45 AM EST
[ Parent ]

Countdown to $50 oil (4) | 7 comments (7 topical, 0 editorial, 0 hidden)

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