Wednesday, October 7, 2015

Jack Kemp's Weekly Data Points -- October 7, 2015

U.S. commercial crude oil inventories week ending 10/2/2015 UP 3.1 MMbbl, refinery utilization = 87.5%

US commercial crude stocks rose +3.1 million bbl last week, up +10.2 million bbl in last 6 weeks

Price of WTI is still holding, at least for the moment; flirting with $50/bbl threshold.

US refineries cut throughput -403,000 b/d, exactly in line with 2014, but fuel consumption higher so tighter overall

US crude oil imports eased down to 7.1 million b/d, from 7.6 million b/d the prior week, slightly below avg for 2015

US gasoline consumption averaged +350,000 b/d above 2014 in last four weeks, tracking normal post-summer slowdow

US gasoline stockpiles continued to rise (+1.9 million bbl) and seasonal stocks are now the highest for over 10 yrs -- what peak oil?

US gasoline stocks stand at 24.76 days of current consumption, up from 23.99 days this time in 2014

US distallate stocks fall for 3rd consecutive week, down -2.5 million bbl, but still +23.0 million above prior-year

California gasoline emergency is over with West Coast stocks now well above average (same tweet as last week) -- Governor Jerry Brown sensibly waited this one out

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Indonesia's Middle Class

The Indonesian energy story gets a lot of press over at Platts.

This is another example of the Pacific rim and the Indian subcontinent population moving toward a more vibrant middle class.

Tweeting now: Indonesia's total primary energy consumption grew by 43% between 2003 and 2013.

Something tells me intermittent energy is not the answer.

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Bucket List: Normandy

I've visited Normandy; I've spent several days in the area. At the time, I read a number of books on the story of D-Day. That was many years ago. I hadn't thought about it much until I happened to see D-Day by Stephen Ambrose and started reading it.

I've read much of the Ambrose history. The book is very well organized and lends itself to reading chapters of interest in any order one chooses, although there are bits of information in earlier chapters that precedes later chapters.

As I noted earlier -- not too many years ago -- I don't have a bucket list. But if I did have a bucket list this would be on it: to spend several weeks in northern France, in a small pension, eating moules et frite, and exploring the area with a significant other, while reading, and re-reading Ambrose.

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