Opec pushes output to record level

If I may, I would like to recommend this information source for you and any others interested in learning move about the petroleum industry.

Oil Market Basics
http://www.eia.doe.gov/pub/oil_gas/petroleum/analysis_publications/oil_market_basics/intro.htm#Welcome%20to:
A primer on oil markets combined with hotlinks to oil price and volume data available on the Internet

In its six chapters’ text, it provides an overview of oil markets and how they function. In its graphs, it pictures the trends and patterns discussed. In its more than 400 links, it provides a road map to EIA data and other information on oil markets available on the Web. By design, Oil Market Basics does not provide the most current data, but links to the data.

Table of Contents
Introduction
- HOW TO USE OIL MARKET BASICS
- CHART: U.S. Oil Flow from Source to End-Use, 2004

Supply
- WHAT OIL IS AND WHERE IT COMES FROM
- DRILLING FOR OIL
- HOW OIL IS PRODUCED
- THE IMPACT OF UPSTREAM TECHNOLOGY
- GLOBAL OIL SUPPLY BY REGION
- U.S. OIL PRODUCTION
- ADDITIONAL SUPPLY DETAIL Schematic of a Petroleum Trap
Upstream Technology
- Reserves and Resources
- Federal Offshore

SUPPLY GRAPHS AND CHARTS
- Schematic of a Petroleum Trap
- World Oil Reserves by Region, January 1, 2005
- Cost of Crude Oil to U.S. Refiners, 1973-2004
- World Oil Production by Region, 1980-2003
- U.S. Oil Production by Region, 2004

GUIDE AND LINKS TO SUPPLY DATA AND SOURCES

Demand
- GLOBAL OIL CONSUMPTION
- U.S. CONSUMPTION BY SECTOR
- U.S. CONSUMPTION BY PRODUCT
- U.S. CONSUMPTION BY REGION
- MEASURING OIL CONSUMPTION
- DEMAND GRAPHS AND CHARTS World Oil Demand by Region, 1980-2003
- World Oil Demand per Capita by Region, 2003
- U.S. Oil Demand by End-Use Sector, 1950-2004
- U.S. Oil Demand by Petroleum Product, 2004
- U.S. Petroleum Product Demand by Month, 1998-2002
- U.S. Oil Demand by Region, 2002

LINKS TO DEMAND DATA AND SOURCES

Trade
- REGIONAL IMPORTERS AND EXPORTERS
- GLOBAL PATTERNS OF OIL TRADE
- IMPORT DEPENDENCY
- U.S. TRADE FLOWS
- TRADE GRAPHS AND CHARTS U.S. Oil Imports by Area of Origin, 1973-2004
- U.S. Imports of Crude Oil and Petroleum Products, 1973-2005
- U.S. Oil Imports by Region, 2004
- Movements of Petroleum Products between U.S. Regions, 2004

LINKS TO TRADE DATA AND SOURCES

Refining
- SIMPLE DISTILLATION
- DOWNSTREAM PROCESSING
- CRUDE OIL QUALITY
- OTHER REFINERY INPUTS
- U.S. REFINING CAPACITY
- WORLD REFINING CAPACITY
- REFINING GRAPHS AND CHARTS Typical Product Yield from Simple Distillation
- Average U.S. Refinery Yield, 2004
- World Refining Capacity by Region, 2003
- World Petroleum Product Output by Region, 2003
- U.S. Refining Capacity by Region, 2004
- U.S. Refining Capacity, Crude Runs, and Utilization Rate, 1973-2004
- Profit Rates by Oil Industry Segment, 1977-2003

LINKS TO REFINING DATA AND SOURCES

Stocks
- WHY STOCKS ARE IMPORTANT
- STOCKS ARE SEASONAL
- STRATEGIC STOCKS
- COSTS AND PROFITS
- STOCKS GRAPH U.S. Oil Inventories by Region, December 31, 2004

LINKS TO STOCKS DATA AND SOURCES

Prices
- OVERVIEW: COSTS PLUS MARKET CONDITIONS
- GASOLINE PRICES: AN EXAMPLE
- LINKS TO PRICE DATA
- ADDITIONAL PRICE DETAIL Types of Oil Transactions
- Taxes
- Gasoline Classes of Trade

GUIDE AND LINKS TO PRICE DATA AND SOURCES

Graphs and Charts
Links to EIA Data and Other Web Resources
Quick link to Current Data
Need Help?
Appendices:

A - MAP OF PETROLEUM ADMINISTRATION FOR DEFENSE DISTRICTS
B - LINKS TO ENVIRONMENTAL SOURCES

We have the worlds largest deposit of the cleanest coal in the world. But Clinton and the Democrats signed the land into federal parklands. The other deposit is owned by the Ryadi, big Clinton donor, and from.....Indonesia

Good points, thanks for the links.

My discussion is more basic, we need independent domestic oil production that is fully linked to its own refineries.

When we buy refined and cracked end products from foreign sources we are dependent on their crude and their distilled products and their pricing.

We need to be self contained and have a national energy policy that does so.

You and I can tear this down to a technical discussion/solution with all the facts at hand that devolves into tactics.

America's problem is new strategic analysis that creates a political solution and the willpower to act.

BTW I was in the Anadarko basin in 1982, with Du Pont, and the sweet crude, although limited, was so much easier and less corrosive to pump and pipe. Sulphur is a big problem and the industrial demand is way less than what is produced by sour crude.

Separating out sulphur cheaply is the key to profitable hydrocarbon (of any kind) production.

The lefty environmentalist say that the wings of a single butterfly can cause an ecosystem to collapse. That is why a rat, cockroach...is so important. But, the leftys say the crushing taxes of their schemes have no effect on an economy.

we need independent domestic oil production that is fully linked to its own refineries.

We could triple the amount of domestic oil production before reaching the current capacity of our refineries. We would just replace the imported oil with oil from our own domestic sources.

I don't believe we need to replace it all. But I believe we should at least double our production, that would be enough to replace the oil we get from OPEC, where most of our imported oil comes from.

When we buy refined and cracked end products from foreign sources we are dependent on their crude and their distilled products and their pricing.

Yes, but we only import 1.1 MMBPD of motor gasoline and associated components.

We only import 0.3 MMBPD of distillates like diesel and fuel oil.

We do import 10 MMBPD of crude oil. This is to me is the biggest problem we need to address first.

Petroleum Imports by Area of Entry
http://tonto.eia.doe.gov/dnav/pet/pet_move_imp_dc_NUS-Z00_mbblpd_a.htm

Hmmmm. Would you support a ban on the importation of foreign oil in say, 25 years? How about a minimum import fee per barrel to guarantee domestic producers that foreign oil could never get dumped below profitable levels?

When I was in Anadarko they were capping many wells as soon as they were established because of fear of a glut and no pipelines to refineries, trucking was too expensive, refineries were way off in Borger, TX. Many are still capped.

Would you support a ban on the importation of foreign oil in say, 25 years? How about a minimum import fee per barrel to guarantee domestic producers that foreign oil could never get dumped below profitable levels?

No, I'm not in favor of such "absolute" type legislation as a ban. I would prefer tariffs on imports, perhaps based upon a gradual increasing amount to discourage it but not leave us in a bind during an upset condition.

That is exactly what I am saying. We need a floor on US oil prices so as to protect businesses who chose to exploit coal liquification and extraction of shale oil, as well as myriad alternatives technologies.

I completely agree with you!!! But our sell-out governments will do whatever their slave masters corporate America tell them to do. And that will be whatever brings them the most profit, even if that comes on the backs of the middle class in the forms of declining incomes reduced quality of life.

I am very pessimistic about this nation getting serious abut exploiting new energy resources. It won’t happen. The powers that be are getting rich off the existing system. The system won’t change until the current robber barrons finds more profit in something else rather than what is enriching them today.