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Total oil supply "cushy" and outlook remains "cushy"

GasBuddy Blog -- As if oil company stockpiles were not high enough, the Department of Energy released today a report showing that the nation's Strategic Petroleum Reserve in the Gulf States contained a record amount of crude oil- some 725 million barrels, or 30 billion gallons of oil.

With U.S. demand at nearly 18.5 million barrels per day, this strategic stockpile would last the country 39 days with no other oil production or imports. That's a huge amount of oil. Add the amount of oil in other storage, the U.S. has over 1.2 billion barrels of oil in storage (ready to refine) and 23 days of gasoline supply (ready to ship to stations). Generally, gasoline stockpiles are considered adequate at 21-22 days. Another day of gasoline demand represents 3...

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Submitted Nov 20, 2009 By: PD

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REPLIES (newest first)

OHMS Champion Author Orange County Posts:6,746 Points:740,360 Joined:May 2005	Message Posted: Jan 31, 2010 11:17:52 AM Ignore OHMS Report Abuse I think we just had that too; but Kushy and Cushy and so difficult to distinguish when the weather is overcast.
52MPG Champion Author Dayton Posts:1,444 Points:599,410 Joined:Apr 2006	Message Posted: Nov 20, 2009 11:43:25 PM Ignore 52MPG Report Abuse With supply up and demand down why are gas prices up?
ricebike Champion Author New Jersey Posts:3,647 Points:787,090 Joined:Oct 2005	Message Posted: Nov 20, 2009 10:25:30 PM Ignore ricebike Report Abuse meh, T-4-2, the smarter people are shopping online and letting fedex/ ups/ usps use their fuel reserves to deliver the goods directly to their homes...
graceman All-Star Author Baltimore Posts:828 Points:339,270 Joined:Jun 2008	Message Posted: Nov 20, 2009 7:29:27 PM Ignore graceman Report Abuse Keep it up.
jbcol1 Champion Author Virginia Beach Posts:1,047 Points:179,085 Joined:Sep 2005	Message Posted: Nov 20, 2009 5:06:47 PM Ignore jbcol1 Report Abuse hmmm
teafortwo Champion Author Washington Posts:2,308 Points:257,920 Joined:Feb 2009	Message Posted: Nov 20, 2009 3:16:16 PM Ignore teafortwo Report Abuse Thanks for the uPDate PD. It is important to know where we stand. Now, since we have a supply glut, how about bringing those prices down so people can get out and do their HOLIDAY SHOPPING & TRAVEL and feel less of a pinch at the Gas Station when they fill up? Happy whatever to all ;0)