Oil rises on falling gasoline supply (Crude inventory down 1.3 million barrels. Thank a Democrat)

CNN ^ | 7/30/2008 | Kenneth Musante

[DGHoodini]

Reduceded shipments. Closed shipping lane do to the spill
had the delivery of crude cut off for several days..there are a couple of other factors, that are escaping my mind at this point...

[TheBattman]

A report from the Energy Department showed a 3.5 million barrel decrease in gasoline supplies, and a decline of 100,000 barrels of crude oil.

Ummm... a created decrease in supply. Consumers have cut back - and so have the refineries. Shipping 1.6million barrels of gasoline out of the US probably doesn't help either.

[TheBattman]

Refinery capacity that was last reported they are running 87% of capacity (down from 93-97% just a year ago).

[bicyclerepair]

See tagline.

[DGHoodini]

Let us not forget, that 1.3 million barrels is less than what we consume in 1 day.

[tobyhill]

If the refiners don't have enough base product how do they produce more refined product?
We need more oil plain and simple. If refiners aren't running at full capacity then it could be due to the high price of oil or a lack of oil.

[DaveArk]

Carbon Dioxide is not a pollutant.

[RightWhale]

Roughly one hour.

[tcrlaf]

The ONLY place Democrats intend to allow drilling is your WALLET.

THIS is the issue that can put John McCain in the White House, if his people have the brains to use it.

As Democrats once told us, “It’s the ECONOMY, STUPID!”

[tcrlaf]

“Shipping 1.6million barrels of gasoline out of the US probably doesn’t help either.”

Don’t Puerto Rico, Guam, Saipan, Micronesia and Samoa deserve gas, too?

That 1.6 number is BS, too...

In May we only exported 580,000 barrels, HALF of that number.
http://tonto.eia.doe.gov/dnav/pet/pet_sum_crdsnd_adc_mbbl_m.htm

[Smittie]

It was only a couple of weeks that there was a surprising increase in the stockpiles of oil & gas. Of course I knew it wouldn't be long before they announced a sudden - surprise- drop in supply, I was just surprised it took that long.

And I bet it doesn't take them as long to increase the price as it does to reduce it.

I'm tired of this game.

[tobyhill]

There wouldn't be the ups and downs if we had the spickets in our own back yards and not using the foreign spickets.

[No Income Tax]

Crude was down 100,000 barrels. The “experts” expected crude to be down 1.3 million barrels.

[thackney]

Shipping 1.6million barrels of gasoline out of the US probably doesn't help either.

How long does it take to do that?

Exports Exports by Destination
http://tonto.eia.doe.gov/dnav/pet/pet_move_expc_a_EPM0F_EEX_mbblpd_m.htm

[Sertorius]

What happens if China is successful at getting 90% of their cars parked for the Olympics? That should affect demand shouldn’t it?

[TheBattman]

That would be daily exports

[Smittie]

There wouldn't be the ups and downs if we had the spickets in our own back yards and not using the foreign spickets.

That is so true. We should've never let ourselves become dependent on our enemies for our needs no matter how cheap they were selling the stuff.

[thackney]

No it is not, check the link I included above.