More oil, please

Investment Analysis Clubs Macro Economic Trends and Risks
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Sen. Jeanne Shaheen: ‘We need to call on our major oil companies’ to ‘increase production’ amid Russia-Ukraine war
www.msnbc.com/andrea-mitchell-reports/watch/sen-jeanne-shahe…
Senators Jeanne Shaheen (D-NH) and Mark Warner (D-VA) join Andrea Mitchell to discuss the need for energy companies to ramp up oil production as sanctions on Russia drive up the price of oil. “We need to call on our major oil companies to stop sitting on production and increase production. They’ve been sitting on the amount of production because they want to keep the price high,” says Senator Shaheen.

DB2

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DB2,

This is totally true. There has been a global collusion among the oil interests.

But that collusion will now fall apart because of more serious pressures. It will change with the times.

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What does the Ukraine have to do with the need for oil? In California they, the government, doesn’t want them to drill. What were they, the government, doing six months ago when they, the government, wanted the oil companies to stop or reduce production? Dam, isn’t there a pipeline or two the government is stopping? If I was one of the oil companies then I would not worry about price nor about production. If you want more oil don’t talk to the oil companies talk to the government.

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It’s normal for USian pols to whine for oil producers to “pump more” rather than USians to burn less. Can’t have “big gummit telling people they can’t drive”, or “big gummit forcing people into little, lightweight, cars”. Truth is, no matter how cheap gas might be, USians will always cry a river that it’s “too expensive”.

Steve

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What does the Ukraine have to do with the need for oil?

$110 a barrel???

The Captain

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It might be interesting to examine the graph of monthly US crude oil production from the EIA.

https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&…

Production hit an all-time high at 400 million barrels per month in December 2019. Then, it dropped off to 301 million barrels in May of 2020. Since then, it has generally recovered, with 359 million barrels in December of 2021. Right now, production is basically where it was in late 2018, with a slow trend up.

  • Pete
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Production hit an all-time high at 400 million barrels per month in December 2019. Then, it dropped off to 301 million barrels in May of 2020.

On the consumption side, total petroleum product consumption is back to pre-pandemic levels, if not slightly higher.
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&…

Gasoline consumption is somewhat seasonal, but appears to be slightly less than pre-pandemic normal. I know that I am driving less, with gasoline currently above $5 per gallon here in San Diego.
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&…

Jet fuel consumption is still not back to 2019 levels.
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&…

  • Pete
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What does the Ukraine have to do with the need for oil? In California they, the government, doesn’t want them to drill

Oh baloney. California is the 7th largest oil producing state in the country, ahead of states like Wyoming and Louisiana, producing 10 times as much as Montana.
https://www.statista.com/statistics/714376/crude-oil-product…

Isn’t there a pipeline or two the government is stopping?

Yes, the pipeline which would take oil from Canada to ports in Texas to be exported. It’s tar sands oil, the most environmentally destructive kind, the kind that requires ultra high pressures to move and which causes leaks at triple the rate of domestic oil, and none of which is slagged for domestic production. That pipeline.

Thanks for playing. Try getting your news from somewhere other than radio talk shows.

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It’s tar sands oil,

Thanks for getting it wrong again to show your bias? Tar hardens, oil sands doesn’t. I notice your claims lack links … too lazy?

Somewhat interesting, the process to turn it into light oil was invented in California at the Kern River oil fields.

Tim

https://www.youtube.com/watch?v=ioE8n93PsMs

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Oh baloney. California is the 7th largest oil producing state in the country, ahead of states like Wyoming and Louisiana, producing 10 times as much as Montana.

Oh and guess who is #1 producing country?

https://worldpopulationreview.com/country-rankings/oil-produ…

Here are the 10 countries with the highest oil production:

United States (12,108)
Russia (10,835)
Saudi Arabia (9,580)
Iraq (4,620)
Canada (4,129)
China (3,823)
United Arab Emirates (3,068)
Kuwait (2,652)

Then of course there is the consumption thingy.

Here are the 10 countries with the highest oil consumption:
United States (19,690,000)
China (11,750,000)
India (4,489,000)
Japan (4,026,000)
Russia (3,594,000)
Saudi Arabia (3,237,000)
Brazil (3,018,000)
South Korea (2,630,000)

High gas prices are a good thing, that’s why we have a carbon tax and didn’t make the list?

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Here are the 10 countries with the highest oil consumption…

…that’s why we have a carbon tax and didn’t make the list?

Since you asked, it’s because of the size of Canada’s population. Not that they’re short, but because are aren’t that many of them. Canada is #9 on a per capita basis.
www.worldometers.info/oil/oil-consumption-by-country/

DB2

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In gallons per capita


 **Gallons**
 **per**
**Rank   Capita    Country** 
 1   34,079.8    Gibraltar
 2    3,679.5    Singapore
 3    2,404.0    U.S. Virgin Islands
 4    1,705.1    Saint Pierre & Miquelon
 5    1,652.2    Malta
 6    1,560.2    Saudi Arabia
 7    1,518.3    Falkland Islands
 8    1,487.2    Luxembourg
 9    1,467.3    United Arab Emirates
10    1,463.8    Faeroe Islands
11    1,390.9    Kuwait
12    1,231.1    Montserrat
13    1,209.7    Bermuda
14    1,182.5    Guam
15    1,169.4    Aruba
16    1,169.1    Seychelles
17    1,118.2    New Caledonia
18    1,087.0    Greenland
19    1,078.3    Cayman Islands
20    1,047.6    Canada
21      993.4    Qatar
22      934.3    United States

The Captain

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Since you asked, it’s because of the size of Canada’s population. Not that they’re short, but because are aren’t that many of them. Canada is #9 on a per capita basis

Which is really not all that bad?

Of course we don’t burn those silly Gallon thingies? }};-D

We’ve had high gas prices for a very long time, much of it due to taxes at (in some cases) all three levels of government. Halifax is one of the cities that adds a road improvement tax that allows them a portion of the Provincial take.

https://www.ctvnews.ca/autos/gas-prices-top-2-per-litre-as-r…

AUTOS News

Gas prices top $2 per litre as Russian invasion sends crude oil surging

Oh, text from the lawyer/diplomat kid on vacation in the Keys. I asked her how the flights went.

“Good flights. Girls love the convertible mustang. Drove it around siesta Key last night! No one wearing masks around here. Crowds of people and no masks. Oh well”.

Tim

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In gallons per capita

Gallons
per
Rank Capita Country
1 34,079.8 Gibraltar
…

22 934.3 United States

The Captain

Services. Gibraltar's bunkering companies can supply all grades of marine fuel from 30 cSt to 380 cSt and there are constant quality checks by each company. Bunkers are normally delivered by barge while the vessel is at anchor in Gibraltar Bay and can also be delivered alongside.

Proving once again that there are lies, damn lies and statistics?

Tim <fun place to visit, I’ve been there on military aircraft for exercises, navy ships for port visits and refueling stops and once wife and I drove down and stayed a couple of days in a hotel while on the way to Barcelona from the Algarve. They have the biggest damn cockroaches you’ve ever seen … well I think the US Navy base in Iceland might have had bigger ones … certainly far more!

Tim

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In gallons per capita
Gallons
per
Rank Capita Country
1 34,079.8 Gibraltar
2 3,679.5 Singapore
3 2,404.0 U.S. Virgin Islands…

Captain,

Do you have a link for these stats? I am shocked that the US is No. 22 on a per capita basis!

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          Gallons per
Rank   Capita    Country 
 1   34,079.8    Gibraltar
 2    3,679.5    Singapore

Yikes! #1 Gibraltar, 10:1 over #2 Singapore on the list?

Yeah, Gibraltar’s divisor number is very low, but???

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Do you have a link for these stats? I am shocked that the US is No. 22 on a per capita basis!

I just sorted the list in the previous link, copied to a spreadsheet, and renumbered…

https://www.worldometers.info/oil/oil-consumption-by-country…

The list is sortable. Click on “Yearly Gallons Per Capita”

The Captain
is an IT kind of guy…

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I am shocked that the US is No. 22 on a per capita basis!

A larger part of that is the importing of manufactured goods especially those involving plastic materials. Meaning those goods we consume are not included in our GDP usages. They are not our GDP.

The issue might be marginal, but it rolls back our ranking on the list.

If oil imports get a similar treatment that effects other manufacturing countries’ rankings as well.

NOW a moment to reflect…my assumption is the calculus is solely based on GDP.

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Yikes! #1 Gibraltar, 10:1 over #2 Singapore on the list?

Yeah, Gibraltar’s divisor number is very low, but???

Both Gibraltar and Singapore have ship refueling bases that make the statistics nonsense. Fill her up has whole new meaning.

While most warships refuel and replenish stores while underway from Navy tankers, those navy tankers (AOR for Auxiliary Oil Replenishment) load up from shore bases as do the warships when it is convenient. Sometimes it is quicker to use the Helicopter to do a Vertrep (Vertical Replenishment) to sling pallets of food and stores between the supply ship and the flight deck on the warship.

Not one of our fav things to do as a couple of heavy pallets dangling below the aircraft often swinging and spinning while the flight deck is unavailable due to pallets feels a bit scary at times. The copilot had the jettison button and a threat as to what would happen to him if he didn’t press it immediately when told to do so.

We could also refuel the aircraft from the ship while airborne (HIFR) but again an emergency breakaway was always a possibility. One of my crazy bosses insisted on practicing a HIFR followed by full crew change by hoist at night. }};-@ Come to think of it, he also wanted to tow the destroyer to prove it could be done!!! By time it was all set up we were running low on fuel.

Tim <fun job … not everyone survived to collect the pensions.>

https://www.google.com/search?q=warships+underway+replenishm…

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tim443
While most warships refuel and replenish stores while underway from Navy tankers, those navy tankers (AOR for Auxiliary Oil Replenishment) load up from shore bases as do the warships when it is convenient. Sometimes it is quicker to use the Helicopter to do a Vertrep (Vertical Replenishment) to sling pallets of food and stores between the supply ship and the flight deck on the warship.

ah, VertReps and UnReps. Them was the good ol’ days. In UnRep, shoving the bow of your destroyer thru the curling bow wave of your supply ship takes faith and… something else.

Best UnRep ever? Refueling from a carrier. Handy as a gas station, very UNHANDY with their overhanging elevators, sticking out and just waiting to cut and crush into a destroyer’s aft ECM array. As the electronics off, and as OOD at the conn during a carrier UnRep, I watched as our rolling almost removed the port half of the ECM gear. Turned out I was overly concerned. We synchronized rolling and adjusted course and escaped disaster by over 24 inches.

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