API: February Gasoline Demand Broke Records

I missed this (reported yesterday, March 17, 2010): The American Petroleum Institute says that the US demand for gasoline broke records in February.

I thought the winter storms had brought everything to a halt. I clearly remember hearing that the continuing high unemployment numbers were because of all the people that lost their jobs due to the winter storms in February.

But there it is: the API says that the US demand for gasoline broke records in February, and it was not by a small margin. It was significant.

And they say this is the worst recession ever for the US. My heart goes out for those who are unemployed or underemployed and looking for employment or better employment, but from a macro-economic point of view, this simply does not make sense. To be told this is the worse recession in US history and then learn the US demand for gasoline in February broke records a) when gasoline prices were high; and, b) when storms put everyone out of work, makes no sense whatsoever.

The entire article is very bullish for oil.

EOG and the Niobrara

Someone came to this site looking to see where EOG is drilling its Niobrara wells. EOG is drilling the Niobrara in northern Colorado, but EOG will not release additional information according to this story. It's been about a month since that story ran so there are probably some people in northern Colorado who can shed more light on this. Other than these occasional snippets, this blog will remain focused on the North Dakota oil industry. I do touch on the Niobrara occasionally and have a link in the sidebar on the right.

I Can't Make This Stuff Up

After all the hype about global warming bringing the polar bear closer to extinction, the UN defeated a proposal to ban the international trade of polar bear skins, teeth, and claws, saying that such a ban would impact the economies of indigenous people. Enuf said.

See more at "I Can't Make This Stuff Up."

(Yes, it's a slow moment in the Bakken.)