"Focus On Fracking" has been posted. Link here. The lede:
- gasoline demand an at eight-month high; imports of distillates at a 26-week low ...
Early in the post:
US oil data from the US Energy Information Administration for the week ending April 16th indicated that despite a decrease in our oil imports, a big increase in crude oil that the EIA could not account for meant we had surplus oil to add to our stored commercial crude supplies for the sixth time in nine weeks and for the 14th time in the past thirty-nine weeks....
our imports of crude oil fell by an average of 448,000 barrels per day to an average of 5,405,000 barrels per day, after falling by an average of 411,000 barrels per day during the prior week, while our exports of crude oil fell by an average of 31,000 barrels per day to an average of 2,548,000 barrels per day during the week, which meant that our effective trade in oil worked out to a net import average of 2,857,000 barrels of per day during the week ending April 16th, 417,000 fewer barrels per day than the net of our imports minus our exports during the prior week...
over the same period, the production of crude oil from US wells was reportedly unchanged at 11,000,000 barrels per day, and hence our daily supply of oil from the net of our trade in oil and from well production appears to total an average of 13,857,000 barrels per day during this reporting week...
So, if there was a a big increase in crude oil that the EIA could not account for meant we had surplus oil to add to our stored commercial crude supplies for the sixth time in nine weeks and for the 14th time in the past thirty-nine weeks ... is the "Newsom announcement" even newsworthy?
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Infrastructure
We'll see the same thing if the Joe Biden plan is passed.
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