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Oil prices dropping.
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Oil prices dropping.
Wayne.B wrote:
On Fri, 05 Dec 2014 12:35:58 -0500, wrote: On Fri, 5 Dec 2014 08:07:57 -0800 (PST), Tim wrote: Wayne, thanks for your thoughts. That ist the most cprehensive view I've heard yet. Yeah I didnt realize the 'storage' problem... I think that is because people have a hard time visualizing how much oil we use in a day. (about 17 million gallons a day) That is a 52 acre lake, a foot deep. Every day === Make that barrels per day not gallons. Your 52 acre lake just got 40 feet deeper. :-) Storage is tanker ships a lot of the time. And when the tankers are filled, and anchored. Then storage is pretty much full. |
Oil prices dropping.
On Friday, December 5, 2014 10:18:08 PM UTC-8, wrote:
On Fri, 05 Dec 2014 13:05:02 -0500, Wayne.B wrote: On Fri, 05 Dec 2014 12:35:58 -0500, wrote: On Fri, 5 Dec 2014 08:07:57 -0800 (PST), Tim wrote: Wayne, thanks for your thoughts. That ist the most cprehensive view I've heard yet. Yeah I didnt realize the 'storage' problem... I think that is because people have a hard time visualizing how much oil we use in a day. (about 17 million gallons a day) That is a 52 acre lake, a foot deep. Every day === Make that barrels per day not gallons. Your 52 acre lake just got 40 feet deeper. :-) You are right and it is more like 19 million bbl. I was looking at the wrong line on the API chart 400,000 bbl (17 million gallons) is the increase last year so my lake represents the increase. That's a bigger wad yet!! |
I wonder if we will see gas prices under $2.00 a gallon again.
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