dali lama, it seems a little early for that relationship to hold since housing is still very strong and homeowners are still extracting money from their home "ATMs". I expect that will be true next year if housing weakens as I expect.
"It is not clear how long this level of imports can be maintained"
Immediately in the aftermath of Katrina, didn't the US do a deal with various European countries whereby the latter agreed to draw down on their emergency gasoline stocks and ship them to the US for a certain period (one or two months?).
Do we know the capacity utilization rate of OPEC refineries? How about the output mix? Is it approximately 2/3 gasoline, 1/3 heating oil or vice versa?
What about Russian refineries?
It is a large exporter of crude. What about refined products? What about product mix there?
Good questions (Walter and Joshua) and I can't answer them (yet, but I'll google after them as soon as I get done with mine.)
The recent turn by many within the GOP pool on the WH has me wondering about the weight of the oil lobby/interests. They appear to have slipped off the plank as it were: Cato, Bartlett, among others.
The piranhas (oil) may have taken more than their share and the ability of the flock to get across the river is being impaired by those whose interests are far too short-sighted. (The piranha, not being noted for it's long range planned meals, has no respect for equations like CR's.) A reflection of the disaster that Energy policy is in this country: the piranhas are loose just when the going gets rough.
Also don't underestimate the efect of the temporary exemptions of the enironmental regs... My guess is it allowed local surpluses to be better matched to local shortages... Plus run the refineries 'balls to the wall'... as we used to say when I was working in a chemical plant... we loved running balls to the wall even if it meant running it over the tops of the tanks, down the street and into the river.
Thanks for explaining that expression dryfly 'balls to the wall'...
and to CR for the photo of Bono with Bush. Wasn't Bono a co-crusader with the former Sec Tresurer O'Neill? Lots of Africa aid promised but less delivered?
Bush is running out of photo ops I guess.
You haven't really been 'balls to the wall' unless your boss has to drive his new El Camino through 'it' on his way to the plant having been called and told there might have been a 'little spill'... prior to that you just THOUGHT you knew what 'balls to the wall' meant.
My guess is the refineries are running under similar SOPs right now.
How about this:
"Demand for oil is falling because the housing market is slowing."
dali lama, it seems a little early for that relationship to hold since housing is still very strong and homeowners are still extracting money from their home "ATMs". I expect that will be true next year if housing weakens as I expect.
On another note, Dr. Polley has a fun photo comparison: Rock Stars and Presidents.
Best to all.
"It is not clear how long this level of imports can be maintained"
Immediately in the aftermath of Katrina, didn't the US do a deal with various European countries whereby the latter agreed to draw down on their emergency gasoline stocks and ship them to the US for a certain period (one or two months?).
Do we know the capacity utilization rate of OPEC refineries? How about the output mix? Is it approximately 2/3 gasoline, 1/3 heating oil or vice versa?
What about Russian refineries?
It is a large exporter of crude. What about refined products? What about product mix there?
Good questions (Walter and Joshua) and I can't answer them (yet, but I'll google after them as soon as I get done with mine.)
The recent turn by many within the GOP pool on the WH has me wondering about the weight of the oil lobby/interests. They appear to have slipped off the plank as it were: Cato, Bartlett, among others.
The piranhas (oil) may have taken more than their share and the ability of the flock to get across the river is being impaired by those whose interests are far too short-sighted. (The piranha, not being noted for it's long range planned meals, has no respect for equations like CR's.) A reflection of the disaster that Energy policy is in this country: the piranhas are loose just when the going gets rough.
Also don't underestimate the efect of the temporary exemptions of the enironmental regs... My guess is it allowed local surpluses to be better matched to local shortages... Plus run the refineries 'balls to the wall'... as we used to say when I was working in a chemical plant... we loved running balls to the wall even if it meant running it over the tops of the tanks, down the street and into the river.
Thanks for explaining that expression dryfly 'balls to the wall'...
and to CR for the photo of Bono with Bush. Wasn't Bono a co-crusader with the former Sec Tresurer O'Neill? Lots of Africa aid promised but less delivered?
Bush is running out of photo ops I guess.
You haven't really been 'balls to the wall' unless your boss has to drive his new El Camino through 'it' on his way to the plant having been called and told there might have been a 'little spill'... prior to that you just THOUGHT you knew what 'balls to the wall' meant.
My guess is the refineries are running under similar SOPs right now.