California Gasoline Drops To Four-Month Low: Crude Oil Production in California Hits An Eight-Year High

Bloomberg is reporting:

Spot gasoline in Los Angeles tumbled to the lowest level in four months as production in the state jumped to a eight-year seasonal high.

California-blend gasoline, or Carbob, production jumped 5.3 percent in the week ended July 12 to 7 million barrels, the most for the period since 2005, according to data compiled by the California Energy Commission. Valero Energy Corp.’s Wilmington refinery returned its fluid catalytic cracker and alkylation unit to full rates this week after repairs.

Spot Carbob in Los Angeles declined 6 cents versus gasoline futures traded on the New York Mercantile Exchange to a discount of 12 cents a gallon, according to data compiled by Bloomberg at 3:49 p.m. New York time. That’s the lowest level since March 20. 

This is a very surprising story.  I have mentioned before -- probably last summer -- a lot of old wells that used to have pumpers sitting on them but not moving, are now pumping and have been since last summer. In addition, I'm noticing a lot of work-over rigs along the coast (onshore) during my short visit to the Golden Gate state.

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A Note To The Granddaughters

I'm re-reading Arthur I. Miller's Deciphering the Cosmic Number: The Strange Friendship of Wolfgang Pauli and Carl Jung. As I mentioned earlier, or at least I think I mentioned earlier, sometimes one's mind has to be prepared to enjoy a certain type of book. That's what happened here.

And the book that prepared me for this: Louisa Gilder's Age of Entanglement.

I'm starting to put together a list of books on physics that one might enjoy after one or two (or three) years of college chemistry, organic chemistry, and a bit of physics. It's hard to believe: I took a lot of chemistry courses, and a lot of biology courses, in high school, college, and graduate school, but only one physics course, and that was as a senior in high school. I learned very little in that class. Most of the physics I learned, it turns out, was in 11th grade chemistry was Mr Ceglowski, one of the best teachers I ever had.

It's interesting: when I read of Wolfgang Pauli's brawls in Hamburg pubs in the red-light district, it puts the Zimmerman-Martin case into perspective.

I Started a Joke, The Bee Gees   I Started a Joke/The First Of May, The Bee Gees