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PD Moderator	Message Posted: Dec 30, 2010 11:08:32 AM Ignore PD Report Abuse The Department of Energy released its weekly report on the condition of petroleum inventories in the United States today. Here are some highlights: Crude oil inventories decreased by 1.3 million barrels to a total of 339.4 million barrels. At 339.4 million barrels, inventories are 13.4 million barrels above last year (4.1%) and remain above average. Supply at NYMEX delivery point, Cushing, Oklahoma rose 0.2 million barrels to 36.6 million barrels this week. Gasoline inventories decreased 2.3 million barrels to 214.9 million barrels. At 214.9 million barrels, inventories are now 1.1 million barrels, or 0.5% lower than last year (last week that number was 0.4% higher). Decreases were seen on the East Coast (-1... Visit GasBuddy Blog for full article

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Message Posted: Dec 30, 2010 11:08:32 AM

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The Department of Energy released its weekly report on the condition of petroleum inventories in the United States today.

Here are some highlights:

Crude oil inventories decreased by 1.3 million barrels to a total of 339.4 million barrels. At 339.4 million barrels, inventories are 13.4 million barrels above last year (4.1%) and remain above average. Supply at NYMEX delivery point, Cushing, Oklahoma rose 0.2 million barrels to 36.6 million barrels this week.

Gasoline inventories decreased 2.3 million barrels to 214.9 million barrels. At 214.9 million barrels, inventories are now 1.1 million barrels, or 0.5% lower than last year (last week that number was 0.4% higher). Decreases were seen on the East Coast (-1...

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remay Champion Author Houston Posts:6,968 Points:2,117,615 Joined:May 2006	Message Posted: Dec 31, 2010 12:36:32 PM Ignore remay Report Abuse wonderful, just what the speculators want, decreased inventories...
Shockjock1961 Champion Author Illinois Posts:20,118 Points:2,185,160 Joined:Apr 2006	Message Posted: Dec 31, 2010 9:42:27 AM Ignore Shockjock1961 Report Abuse "I read somewhere where the US has know oil reserves enough to last another 200 years" Probably in the same place where you read that crackers are made by elves in hollow trees...
Martinman Champion Author Mississippi Posts:14,739 Points:2,093,830 Joined:Sep 2005	Message Posted: Dec 31, 2010 7:20:45 AM Ignore Martinman Report Abuse Supply-side "trickle-down" economics at work. If you can't get the price you want, constrict the supply. It appears that the industry's intentional draw-down in crude oil and refined products inventories continues.
N5EXY Champion Author Austin Posts:5,497 Points:1,510,755 Joined:Jul 2004	Message Posted: Dec 31, 2010 2:13:13 AM Ignore N5EXY Report Abuse 45 GasBuddy points worth of useless info.
Jeff4U Champion Author Atlanta Posts:8,761 Points:1,853,345 Joined:Nov 2004	Message Posted: Dec 31, 2010 1:16:53 AM Ignore Jeff4U Report Abuse The current price of $89.75 is surely better than $91+ Inventories will now grow the next few weeks, since the refineries have committed and are finalizing their end-of-year tax liability. (companies want a depleted, low inventory in December) [Edited by: Jeff4U at 12/31/2010 1:17:31 AM EST]
gasaholicMO Champion Author Missouri Posts:2,621 Points:510,940 Joined:Apr 2010	Message Posted: Dec 31, 2010 12:23:44 AM Ignore gasaholicMO Report Abuse Inventories down 0.5% and our gas just went up about 22% this week.
us4usa Champion Author Missouri Posts:5,991 Points:1,113,265 Joined:May 2008	Message Posted: Dec 31, 2010 12:13:55 AM Ignore us4usa Report Abuse Great now the prices can drop again this week...
REKEY Champion Author South Carolina Posts:8,579 Points:1,699,415 Joined:May 2008	Message Posted: Dec 31, 2010 12:10:24 AM Ignore REKEY Report Abuse OMG! A whole 0.5%!
rxman1 Champion Author Toledo Posts:9,551 Points:1,862,870 Joined:Nov 2007	Message Posted: Dec 31, 2010 12:08:57 AM Ignore rxman1 Report Abuse Interesting as always.
BobD2009 Champion Author Long Island Posts:6,994 Points:1,240,760 Joined:Apr 2009	Message Posted: Dec 31, 2010 12:07:57 AM Ignore BobD2009 Report Abuse Our tax dollars at work boring us to death, with what we could have guess at.
cv Champion Author Raleigh Posts:15,211 Points:3,267,555 Joined:Oct 2003	Message Posted: Dec 31, 2010 12:06:42 AM Ignore cv Report Abuse I read somewhere where the US has know oil reserves enough to last another 200 years, if that is true we should take advantage of that ASAP.
Lizzylou Champion Author Stockton Posts:8,818 Points:2,357,285 Joined:Oct 2005	Message Posted: Dec 31, 2010 12:00:00 AM Ignore Lizzylou Report Abuse WHATEVER!
zeddieiv Champion Author Columbia Posts:5,740 Points:1,504,905 Joined:Oct 2006	Message Posted: Dec 30, 2010 11:57:22 PM Ignore zeddieiv Report Abuse zzz!
Ticoman54 Champion Author Miami Posts:7,041 Points:1,491,795 Joined:Oct 2008	Message Posted: Dec 30, 2010 11:56:10 PM Ignore Ticoman54 Report Abuse Prices sure don't follow supply and demand anymore.
kbierley Champion Author Dayton Posts:10,730 Points:1,415,690 Joined:Nov 2003	Message Posted: Dec 30, 2010 11:54:30 PM Ignore kbierley Report Abuse Can we drill more in this country?
HiGramma Champion Author Michigan Posts:1,815 Points:445,690 Joined:Oct 2008	Message Posted: Dec 30, 2010 11:53:08 PM Ignore HiGramma Report Abuse It's like the Children of the Corn are running the speculation. (Yeah, it's on SyFy right now, sure seems apt)
judgemobile Champion Author Ohio Posts:7,575 Points:2,446,110 Joined:Nov 2005	Message Posted: Dec 30, 2010 11:51:44 PM Ignore judgemobile Report Abuse inventories are AT OR ABOVE last year's levels for the same time of year...so why are prices SO MUCH HIGHER ? Could QE 2 (destroying the value of the dollar) have anything to do with this ? Smug guy in the White House partying in warm climate while we freeze our collective "keesters" off.
Hoistoil Champion Author New York Posts:2,576 Points:558,710 Joined:Dec 2010	Message Posted: Dec 30, 2010 11:46:25 PM Ignore Hoistoil Report Abuse more bull
ByGuy Champion Author Dallas Posts:7,848 Points:1,708,265 Joined:Nov 2005	Message Posted: Dec 30, 2010 11:46:12 PM Ignore ByGuy Report Abuse Great comment mstearno!
mstearno Champion Author Dayton Posts:8,071 Points:1,732,210 Joined:Jan 2008	Message Posted: Dec 30, 2010 11:45:39 PM Ignore mstearno Report Abuse like the Sunday funnies
mmene Champion Author Houston Posts:4,347 Points:938,970 Joined:May 2008	Message Posted: Dec 30, 2010 11:39:22 PM Ignore mmene Report Abuse And the prices keep going up...
bridgerunner Champion Author Virginia Posts:4,787 Points:1,006,835 Joined:Jul 2009	Message Posted: Dec 30, 2010 11:33:08 PM Ignore bridgerunner Report Abuse Agree.
bby Champion Author Twin Cities Posts:5,729 Points:1,022,895 Joined:Nov 2009	Message Posted: Dec 30, 2010 11:32:46 PM Ignore bby Report Abuse whatever...
hangupanddrive Champion Author Michigan Posts:2,084 Points:1,222,710 Joined:Aug 2005	Message Posted: Dec 30, 2010 11:29:58 PM Ignore hangupanddrive Report Abuse It's all a game.
stephy_kid33 Rookie Author Dallas Posts:20 Points:2,095 Joined:Jan 2010	Message Posted: Dec 30, 2010 11:24:30 PM Ignore stephy_kid33 Report Abuse ...
amearly Champion Author Michigan Posts:12,119 Points:2,467,610 Joined:Jan 2006	Message Posted: Dec 30, 2010 11:20:58 PM Ignore amearly Report Abuse And how much kickback does this department get from wall street speculators? Because supply and demand doesn't seem to have a thing to do with the market anymore only when there is a decrease .
pcon34 All-Star Author Indiana Posts:903 Points:953,665 Joined:Dec 2005	Message Posted: Dec 30, 2010 11:18:47 PM Ignore pcon34 Report Abuse Again, the retailers and the producers can both artificially control this, it's really not a reflection on actual consumer use.
abcdMA Champion Author Worcester Posts:7,927 Points:1,575,955 Joined:Nov 2008	Message Posted: Dec 30, 2010 11:17:36 PM Ignore abcdMA Report Abuse decrease plus decrese equals increase in price
camel1 Champion Author Minnesota Posts:8,270 Points:2,266,615 Joined:Jul 2006	Message Posted: Dec 30, 2010 11:14:47 PM Ignore camel1 Report Abuse Cost factors are a major factor in inventory levels. The changes often mean little about supply and demand interactions for pricing the commodity.
YellowDucky Champion Author St. Louis Posts:1,563 Points:434,210 Joined:Oct 2010	Message Posted: Dec 30, 2010 11:12:21 PM Ignore YellowDucky Report Abuse How long will the reserves last if our primary supply is cut off? Long enough to develop an alternative?
altima2008 Champion Author Philadelphia Posts:8,165 Points:1,737,990 Joined:Apr 2008	Message Posted: Dec 30, 2010 11:09:08 PM Ignore altima2008 Report Abuse Any excuse to raise the prices and screw us more!
Jo120 Champion Author Arizona Posts:4,242 Points:1,488,030 Joined:Mar 2005	Message Posted: Dec 30, 2010 11:02:32 PM Ignore Jo120 Report Abuse Finally, a supply/demand reason for the price at the pump going up!
OGW Champion Author London Posts:5,329 Points:1,532,975 Joined:Sep 2005	Message Posted: Dec 30, 2010 10:50:21 PM Ignore OGW Report Abuse Inventory is controlled by the producers and refiners to whatever they want in the system.
jvt666 Champion Author California Posts:2,775 Points:1,843,875 Joined:Apr 2006	Message Posted: Dec 30, 2010 10:45:59 PM Ignore jvt666 Report Abuse Happy holidays to everyone, and decent gas prices...
ToolinIt Champion Author Colorado Posts:1,803 Points:887,195 Joined:May 2010	Message Posted: Dec 30, 2010 10:43:29 PM Ignore ToolinIt Report Abuse djgunrunner, I forgot to tell you that I enjoyed your sarcasm of electric powered vehicles. It was really funny! I would speculate that manufacture and recycling of the batteries for these electric vehicles produce FAR more pollution than 1,000 nuclear power plants could ever produce. I am very knowledgeable of radioactive sources and their half-lives. Only the greenies and fear mongers think that nuclear waste from nuclear plants needs to be placed in barrels and buried and make a wasteland out of remote desert areas.
paulydel Champion Author Delaware Posts:8,789 Points:847,900 Joined:Jan 2008	Message Posted: Dec 30, 2010 10:42:23 PM Ignore paulydel Report Abuse This report is useless.
ToolinIt Champion Author Colorado Posts:1,803 Points:887,195 Joined:May 2010	Message Posted: Dec 30, 2010 10:28:36 PM Ignore ToolinIt Report Abuse djgunrunner: Please view my response as friendly debate. Natural gas isn't a renewable energy source.
nimpy Champion Author Indianapolis Posts:8,140 Points:1,702,080 Joined:Oct 2007	Message Posted: Dec 30, 2010 10:21:27 PM Ignore nimpy Report Abuse Same info just a different week
AKmailman Champion Author Alaska Posts:5,638 Points:1,558,540 Joined:Jul 2004	Message Posted: Dec 30, 2010 10:19:07 PM Ignore AKmailman Report Abuse PD, please, please stop[ posting these meaningless numbers - if you must, use another source than DOE - thanx
RockCity Champion Author Denver Posts:7,915 Points:1,428,085 Joined:Mar 2009	Message Posted: Dec 30, 2010 10:11:21 PM Ignore RockCity Report Abuse And so, the bottomline is???
toadNY Champion Author Albany Posts:7,047 Points:1,514,125 Joined:Apr 2008	Message Posted: Dec 30, 2010 10:04:13 PM Ignore toadNY Report Abuse Still 13.4 million higher than last year. but gas inventories down due to a cut back at the refineries.
djgunrunner Champion Author Salt Lake City Posts:10,104 Points:2,349,580 Joined:Apr 2005	Message Posted: Dec 30, 2010 10:02:42 PM Ignore djgunrunner Report Abuse We need to use alternative fuels like Natural Gas for now and Hydrogen for later. We need to do away with trash like Ethanol and get good viable fuel. That to me does not mean a $10,000.00 battery driven car that goes around 36 holes and costs $41,000.00 then still needs a trailer to carry the clubs.
ToolinIt Champion Author Colorado Posts:1,803 Points:887,195 Joined:May 2010	Message Posted: Dec 30, 2010 9:59:23 PM Ignore ToolinIt Report Abuse DOE: a friendly agency towards OPEC and speculators in oil. Let OPEC etc pay the salaries of the DOE, not us US taxpayers. OPEC is comprised of oil producing nations in the Mid-East that hate the USA and lavishing at the idea of crippling our economy. We need to drill for oil in own homeland and produce alternative energy sources that don't waste water or use food crops to produce alternative energy. In my opinion, the USA needs to build nuclear power plants, develop safe hydrogen fueled vehicles and build hydrogen fueling stations. Wind power and solar power producing plants usually need to be placed in far remote locations that require many miles of transmission lines to a power plant. Consider the cost of construction of the transmission lines and the lost power over the transmission lines and it is not worth the investment. Wind turbines kill millions of migratory birds every year. Using edible food crops for production of ethanol is very wasteful of crop land and water. ALL of the prices for food at the grocery store goes sky high because of food for animals and humans are being used to produce ethanol. I wish that politicians making our laws had common sense. Hydrogen power and nuclear power are our best path to weaning off of foreign oil, in my opinion. To all of the greenies and fear mongers out there, the rest of the world has proven that nuclear power is safe now, we're no longer living in the decade of Chernobyl.
ron98146 Champion Author Seattle Posts:1,579 Points:965,605 Joined:Jun 2008	Message Posted: Dec 30, 2010 9:58:34 PM Ignore ron98146 Report Abuse just more numbers and the pump prices still climb.
Beboper Champion Author Virginia Posts:8,731 Points:2,163,995 Joined:Oct 2005	Message Posted: Dec 30, 2010 9:51:40 PM Ignore Beboper Report Abuse wake me up please
kingofcode Champion Author Florida Posts:1,723 Points:473,965 Joined:Jun 2010	Message Posted: Dec 30, 2010 9:49:11 PM Ignore kingofcode Report Abuse YOUR CORRECT "PIZZAMON"
Bleeder Champion Author Virginia Posts:8,038 Points:1,699,625 Joined:Jan 2008	Message Posted: Dec 30, 2010 9:46:25 PM Ignore Bleeder Report Abuse It is the holiday travel season. Nothing unexpected here.
lpatti1 Champion Author Philadelphia Posts:10,201 Points:1,963,260 Joined:Sep 2005	Message Posted: Dec 30, 2010 9:45:28 PM Ignore lpatti1 Report Abuse Interesting!
uptherefiners Champion Author Chicago Posts:5,048 Points:1,002,000 Joined:Jun 2006	Message Posted: Dec 30, 2010 9:44:52 PM Ignore uptherefiners Report Abuse yawn
PizzaMon Champion Author Philadelphia Posts:5,134 Points:1,863,280 Joined:Jun 2006	Message Posted: Dec 30, 2010 9:44:07 PM Ignore PizzaMon Report Abuse Let's ban these weekly reports for the next six months.