[Vision2020] Conserve precious Oil
B.C. Strand
Bill at strand.bz
Sun Oct 3 12:27:48 PDT 2004
Pat Kraut writes:
It is because of the mess in Florida and political unrest in Venezuela
as well."
Pat,
Venezuela is the fourth largest source of oil for the US at about 1.5
million barrels/day. Because of the general strike, oil exports from
Venezuela were interrupted in late 2002/early 2003. But by April 2003,
they had returned their previous levels and have not affected US imports
since then.
Ivan was the only hurricane that affected oil imports as the rest were
far enough east to miss the primary ports and refineries. In preparation
for Ivan several major refineries were shut down which is the portion
that is affecting gas prices.
But there is only ONE major reason that oil prices are high. Every major
oil importer in the world who has capacity is stockpiling crude oil. And
they are doing this because of fears of interruption of oil from the
Middle East.
Bill Strand
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