[QUOTE] was listening to one of the Saudi guys telling the explicit truth last night on the news. He was basically saying "even if we increase oil production, it won't help lower your gas prices unless you increase your refining capability."
He is 100% right. A bottleneck in a production line is the slowest part of the line. No matter how good any other areas are, you can only produce at the bottleneck rate. For the US, our bottleneck is our oil refinement. Seeing as how we haven't built a new refinery in years, and they are all running at capacity, it's about time. I have heard we are building a new one though, which will help. [QUOTE]
This is so true but this is acaveat to this comment and that is the speculators factor in the cost of oil, a number hard to quantify but not insignificant either.
Another factor, the Saudi’s produce 9.95 mB per day and the US produces 8.84 combined with Mexico and Canada that production increases to 11.5 MB per day.
Unfortunately, the US uses over 20 MB per day.
In order to be oil independent, unless we use less , the problem will only get worst as time goes by.
For example changing daylight saving time by two months on each end, we will save an estimated 100,000 barrels per day based on our experience in 1974.
The actual 2005 figure might be closer top 200,000 barrel a day x 365 that is 73 million about 3 days usage a year
.
Given we import 11.1 million barrel per day and or a little over 4 billion barrels per year.
On the other hand, going to a year round daylight savings time would have nearly 900,000 barrels a day x 365 would equal that is 328 million barrels per year16 days a year savings. This would be 8% of our total imports.
Transportation uses over 42% of all our oil usage, it is this area that we will gain the most but have the least activity from our corporate, legislative and individual sources of doing something about this most crucial of all areas.
Mass transit, greater gas mileage and use of alternative sources of energy such as Nuclear and fuel cell or hydrogen are our only viable way to change this dependence equation.
http://www.gravmag.com/oil.htmlThere is also somehow a shipping shortage as well.
http://www.energybulletin.net/2709.htmlThat is all!