tag:blogger.com,1999:blog-6621691715090523319.post2874137822923815870..comments2023-10-08T04:12:46.273-05:00Comments on The Political Environment: Oil Prices Sag, Pump Prices Soar, Companies In The Driver's SeatJames Rowenhttp://www.blogger.com/profile/10203270946492159686noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-6621691715090523319.post-6660981673194230712008-09-15T16:58:00.000-05:002008-09-15T16:58:00.000-05:00Crude oil prices have been trending down, and crud...Crude oil prices have been trending down, and crude oil stocks have not been low, but you can't put crude oil in your car. Look at the gasoline stocks graph in the current This Week In Petroleum <BR/>http://tonto.eia.doe.gov/oog/info/twip/twip.asp<BR/>With something like a quarter of US refining capacity shut down at the moment, that downward plunging line doesn't look encouraging.Michael Pereckashttps://www.blogger.com/profile/14990918353535184006noreply@blogger.comtag:blogger.com,1999:blog-6621691715090523319.post-65046100766637043242008-09-15T11:01:00.000-05:002008-09-15T11:01:00.000-05:00The EIA is reporting surpluses:http://www.eia.doe....The EIA is reporting surpluses:<BR/>http://www.eia.doe.gov/steoJames Rowenhttps://www.blogger.com/profile/10203270946492159686noreply@blogger.comtag:blogger.com,1999:blog-6621691715090523319.post-70977451654995478162008-09-15T10:13:00.000-05:002008-09-15T10:13:00.000-05:00Inventories are high? The EIA was reporting 188 m...Inventories are high? The EIA was reporting 188 million barrels of gasoline pre-Ike, the lowest inventory since 2000 and nearly the lowest in 20 years, and roughly two days consumption above the estimate of minimum operating level. Doesn't sound like a big cushion with large amounts of refining capacity offline. Who's reporting high inventories?Michael Pereckashttps://www.blogger.com/profile/14990918353535184006noreply@blogger.com