{"id":4817,"date":"2011-02-04T16:39:00","date_gmt":"2011-02-04T22:39:00","guid":{"rendered":"http:\/\/ishmaels.net\/blog\/?p=4817"},"modified":"2011-02-04T16:39:00","modified_gmt":"2011-02-04T22:39:00","slug":"oil-use-versus-oil-refining-and-export-how-numbers-are-deceiving","status":"publish","type":"post","link":"https:\/\/www.ishmaels.net\/blog\/2011\/02\/04\/oil-use-versus-oil-refining-and-export-how-numbers-are-deceiving\/","title":{"rendered":"Oil use versus Oil refining and export? How numbers are deceiving"},"content":{"rendered":"<h4><a href=\"http:\/\/feedproxy.google.com\/~r\/Gregorus\/~3\/-IU2m2f_YZk\/\">Punk US Oil Demand and Export Confusion         <\/a><\/h4>\n<p>from <a href=\"http:\/\/www.google.com\/reader\/view\/feed\/http%3A%2F%2Ffeeds.feedburner.com%2FGregorus\">Gregor.us<\/a> by <strong class='StrictlyAutoTagBold'>Gregor<\/strong> Macdonald<\/p>\n<p>The <strong class='StrictlyAutoTagBold'>US<\/strong> is using spare refining capacity to export <strong class='StrictlyAutoTagBold'>millions<\/strong> of barrels of oil products, while <strong class='StrictlyAutoTagBold'>US<\/strong> domestic demand remains weak. One of the more common misunderstandings I see in energy circles right now is the idea that <strong class='StrictlyAutoTagBold'>US<\/strong> oil demand has rebounded strongly since 2008. It hasn\u2019t. The explanation can be found in the widening divergence between oil that\u2019s imported for domestic usage, and oil that\u2019s imported to convert into oil products for export. Let\u2019s first take a look at the <strong class='StrictlyAutoTagBold'>last<\/strong> 15 years of <strong class='StrictlyAutoTagBold'>US<\/strong> petroleum consumption. This data&#160; is now updated through October, 2010. | see: <em>US Annual Petroleum Consumption Quadrillion BTU \u201995 -\u201910.<\/em><\/p>\n<p><em><a href=\"https:\/\/i0.wp.com\/gregor.us\/wp-content\/uploads\/2011\/02\/US-Annual-Petroleum-Consumption-in-BTU-1995-2010.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" title=\"US Annual Petroleum Consumption in BTU 1995 -2010\" alt=\"\" src=\"https:\/\/i0.wp.com\/gregor.us\/wp-content\/uploads\/2011\/02\/US-Annual-Petroleum-Consumption-in-BTU-1995-2010.png?resize=579%2C579\" width=\"579\" height=\"579\" \/><\/a><\/em><\/p>\n<p><strong class='StrictlyAutoTagBold'>US<\/strong> domestic demand for oil was up a weak 1.1% in 2010, coming off a low, crashy, base in 2009. But worldwide demand for oil especially from developing nations is soaring. The result? The <strong class='StrictlyAutoTagBold'>US<\/strong> is using its <strong>spare refining capacity<\/strong> to turn oil into products, like diesel\u2013for export. Behold the growth in Total <strong class='StrictlyAutoTagBold'>Oil<\/strong> Product exports since the start of 2008. These have nearly doubled from near 1.2 million barrels per <strong class='StrictlyAutoTagBold'>day<\/strong> at the start of 2008, to just above 2.2 million barrels per <strong class='StrictlyAutoTagBold'>day<\/strong> as of mid-<strong class='StrictlyAutoTagBold'>January<\/strong> 2011. | see: <em>US Total Oil Product Exports 2008 -2010 in kb<\/em>(thousand barrels).<\/p>\n<p><a href=\"https:\/\/i0.wp.com\/gregor.us\/wp-content\/uploads\/2011\/02\/US-Total-Oil-Product-Exports.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" title=\"US Total Oil Product Exports\" alt=\"\" src=\"https:\/\/i0.wp.com\/gregor.us\/wp-content\/uploads\/2011\/02\/US-Total-Oil-Product-Exports.png?resize=579%2C579\" width=\"579\" height=\"579\" \/><\/a><\/p>\n<p>When you hear a newsletter writer, oil analyst, or podcast saying that <strong class='StrictlyAutoTagBold'>US<\/strong> <em>domestic<\/em> oil demand has rebounded strongly since 2008\u2013talking in terms of <strong class='StrictlyAutoTagBold'>millions<\/strong> of barrels of restored demand\u2013the mistake they are making is obvious: they are missing the heroic rise in <strong class='StrictlyAutoTagBold'>US<\/strong> exports of gasoline, diesel, and distillate. The error comes in part with the myriad <strong class='StrictlyAutoTagBold'>measures<\/strong> <strong class='StrictlyAutoTagBold'>EIA<\/strong> uses to measure <strong class='StrictlyAutoTagBold'>US<\/strong> demand for oil. Hopefully my disentangling of this data here, is of some help.<\/p>\n<p><em>-Gregor<\/em><\/p>\n<p><a href=\"http:\/\/feeds.feedburner.com\/~ff\/Gregorus?a=-IU2m2f_YZk:uEhrIDxp0GI:yIl2AUoC8zA\"><img decoding=\"async\" border=\"0\" src=\"http:\/\/feeds.feedburner.com\/~ff\/Gregorus?d=yIl2AUoC8zA\" \/><\/a> <a href=\"http:\/\/feeds.feedburner.com\/~ff\/Gregorus?a=-IU2m2f_YZk:uEhrIDxp0GI:V_sGLiPBpWU\"><img decoding=\"async\" border=\"0\" src=\"http:\/\/feeds.feedburner.com\/~ff\/Gregorus?i=-IU2m2f_YZk:uEhrIDxp0GI:V_sGLiPBpWU\" \/><\/a> <a href=\"http:\/\/feeds.feedburner.com\/~ff\/Gregorus?a=-IU2m2f_YZk:uEhrIDxp0GI:gIN9vFwOqvQ\"><img decoding=\"async\" border=\"0\" src=\"http:\/\/feeds.feedburner.com\/~ff\/Gregorus?i=-IU2m2f_YZk:uEhrIDxp0GI:gIN9vFwOqvQ\" \/><\/a> <a href=\"http:\/\/feeds.feedburner.com\/~ff\/Gregorus?a=-IU2m2f_YZk:uEhrIDxp0GI:l6gmwiTKsz0\"><img decoding=\"async\" border=\"0\" src=\"http:\/\/feeds.feedburner.com\/~ff\/Gregorus?d=l6gmwiTKsz0\" \/><\/a> <a href=\"http:\/\/feeds.feedburner.com\/~ff\/Gregorus?a=-IU2m2f_YZk:uEhrIDxp0GI:F7zBnMyn0Lo\"><img decoding=\"async\" border=\"0\" src=\"http:\/\/feeds.feedburner.com\/~ff\/Gregorus?i=-IU2m2f_YZk:uEhrIDxp0GI:F7zBnMyn0Lo\" \/><\/a><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/feeds.feedburner.com\/~r\/Gregorus\/~4\/-IU2m2f_YZk\" width=\"1\" height=\"1\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Punk US Oil Demand and Export Confusion <\/p>\n<p>from Gregor.us by Gregor Macdonald<\/p>\n<p>The US is using spare refining capacity to export millions of barrels of oil products, while US domestic demand remains weak. One of the more common misunderstandings I see in energy circles right now is the idea that US oil demand has rebounded strongly since 2008. It hasn\u2019t. The explanation can be found in the widening divergence between oil that\u2019s imported for domestic usage, and oil that\u2019s imported to convert into oil products for export. Let\u2019s first take a look at the last 15 years of US petroleum consumption. This data&#160; is now updated through October, 2010. | see: US Annual Petroleum Consumption Quadrillion BTU \u201995 -\u201910.<\/p>\n<\/p>\n<p>US domestic demand for oil <\/p>\n<p><a href=\"https:\/\/www.ishmaels.net\/blog\/2011\/02\/04\/oil-use-versus-oil-refining-and-export-how-numbers-are-deceiving\/\">&#8220;And Now the Rest of the Story &#8211; &#8220;Oil use versus Oil refining and export? How numbers are deceiving<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[],"class_list":["post-4817","post","type-post","status-publish","format-standard","hentry","category-uncategorized","odd"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Oil use versus Oil refining and export? 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The explanation can be found in the widening divergence between oil that\u2019s imported for domestic usage, and oil that\u2019s imported to convert into oil products for export. Let\u2019s first take a look at the last 15 years of US petroleum consumption. This data&#160; is now updated through October, 2010. | see: US Annual Petroleum Consumption Quadrillion BTU \u201995 -\u201910. US domestic demand for oil &quot;And Now the Rest of the Story - &quot;Oil use versus Oil refining and export? How numbers are deceiving\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ishmaels.net\/blog\/2011\/02\/04\/oil-use-versus-oil-refining-and-export-how-numbers-are-deceiving\/\" \/>\n<meta property=\"og:site_name\" content=\"And That was How it Went\" \/>\n<meta property=\"article:published_time\" content=\"2011-02-04T22:39:00+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/gregor.us\/wp-content\/uploads\/2011\/02\/US-Annual-Petroleum-Consumption-in-BTU-1995-2010.png\" \/>\n<meta name=\"author\" content=\"wd0ajg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@wd0ajg\" \/>\n<meta name=\"twitter:site\" content=\"@wd0ajg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"wd0ajg\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ishmaels.net\\\/blog\\\/2011\\\/02\\\/04\\\/oil-use-versus-oil-refining-and-export-how-numbers-are-deceiving\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ishmaels.net\\\/blog\\\/2011\\\/02\\\/04\\\/oil-use-versus-oil-refining-and-export-how-numbers-are-deceiving\\\/\"},\"author\":{\"name\":\"wd0ajg\",\"@id\":\"https:\\\/\\\/www.ishmaels.net\\\/blog\\\/#\\\/schema\\\/person\\\/e09620d4264e5cd90e30305809ea2462\"},\"headline\":\"Oil use versus Oil refining and export? 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How numbers are deceiving"}]},{"@type":"WebSite","@id":"https:\/\/www.ishmaels.net\/blog\/#website","url":"https:\/\/www.ishmaels.net\/blog\/","name":"And That was How it Went","description":"life, ham-radio,travel, investing, work, retirement and getting there","publisher":{"@id":"https:\/\/www.ishmaels.net\/blog\/#\/schema\/person\/e09620d4264e5cd90e30305809ea2462"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.ishmaels.net\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":["Person","Organization"],"@id":"https:\/\/www.ishmaels.net\/blog\/#\/schema\/person\/e09620d4264e5cd90e30305809ea2462","name":"wd0ajg","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/db64afcf51fce3b55d7ed73473f96d8213f4d5b7466a584423982496ed778676?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/db64afcf51fce3b55d7ed73473f96d8213f4d5b7466a584423982496ed778676?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/db64afcf51fce3b55d7ed73473f96d8213f4d5b7466a584423982496ed778676?s=96&d=mm&r=g","caption":"wd0ajg"},"logo":{"@id":"https:\/\/secure.gravatar.com\/avatar\/db64afcf51fce3b55d7ed73473f96d8213f4d5b7466a584423982496ed778676?s=96&d=mm&r=g"}}]}},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/parvvB-1fH","jetpack-related-posts":[{"id":5053,"url":"https:\/\/www.ishmaels.net\/blog\/2011\/02\/23\/from-gregor-us-gotta-agree-we-aint-got-no-spare-capacity\/","url_meta":{"origin":4817,"position":0},"title":"From Gregor.US\u2026 Gotta agree we ain\u2019t got no spare capacity.","author":"wd0ajg","date":"February 23, 2011","format":false,"excerpt":"There is not much else that can be said, but from a very low, in the field, perspective \u2013 several of the OPEC countries have had mandates to increase their production capacity and have been spending more money trying to accomplish that.\u00a0 Yet they continue to produce at the same\u2026","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/gregor.us\/wp-content\/uploads\/2011\/02\/OECD-Regional-Inventories-IEA-PAris-OMR-Report-13-JAN-2011.png?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":6414,"url":"https:\/\/www.ishmaels.net\/blog\/2011\/05\/27\/speculators-or-demand\/","url_meta":{"origin":4817,"position":1},"title":"Speculators or Demand?","author":"wd0ajg","date":"May 27, 2011","format":false,"excerpt":"Nice layout of the idiots in Washington grasping for excuses. \u00a0Excuses for them having not done what we sent them up there to do or for having promised crap and we believed it!. \u00a0- WD0AJG from\u00a0Gregor.us by\u00a0Gregor Macdonald Persistent strength in the price of oil has once again unleashed\u00a0maximum nonsense\u2026","rel":"","context":"In \"BBS\"","block_context":{"text":"BBS","link":"https:\/\/www.ishmaels.net\/blog\/tag\/bbs\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":12829,"url":"https:\/\/www.ishmaels.net\/blog\/2012\/10\/01\/conflicting-views-or\/","url_meta":{"origin":4817,"position":2},"title":"Conflicting views Or?","author":"wd0ajg","date":"October 1, 2012","format":false,"excerpt":"I pulled both of these notes from my \u201clinkedin\u201d page.\u00a0 They were stacked on top of each other so which way is it?\u00a0 UP or Down? \u00a0 News trending in Oil & Energy: Crude Oil Poised for Quarterly Gain as U.S. Spending Increases\u00a0 Bloomberg.com Oil headed for the biggest quarterly\u2026","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":18440,"url":"https:\/\/www.ishmaels.net\/blog\/2014\/10\/30\/the-secret-oil-price-rally-no-ones-talking-about\/","url_meta":{"origin":4817,"position":3},"title":"The Secret Oil Price Rally No One&#8217;s Talking About","author":"wd0ajg","date":"October 30, 2014","format":false,"excerpt":"The Secret Oil Price Rally No One\u2019s Talking About by Greg Guenthner . Posted Oct 28, 2014. Oil is now as abundant as oxygen. The world is drowning in the stuff. Oil supplies are far outstripping demand. And unloading a barrel of crude is like trying to sell sand in\u2026","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"oilprice0908","src":"https:\/\/i0.wp.com\/ishmaels.net\/blog\/wp-content\/uploads\/2014\/10\/oilprice0908_thumb.gif?resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/ishmaels.net\/blog\/wp-content\/uploads\/2014\/10\/oilprice0908_thumb.gif?resize=350%2C200 1x, https:\/\/i0.wp.com\/ishmaels.net\/blog\/wp-content\/uploads\/2014\/10\/oilprice0908_thumb.gif?resize=525%2C300 1.5x, https:\/\/i0.wp.com\/ishmaels.net\/blog\/wp-content\/uploads\/2014\/10\/oilprice0908_thumb.gif?resize=700%2C400 2x"},"classes":[]},{"id":9600,"url":"https:\/\/www.ishmaels.net\/blog\/2012\/01\/15\/us-oil-use-and-dependence\/","url_meta":{"origin":4817,"position":4},"title":"US oil use and dependence","author":"wd0ajg","date":"January 15, 2012","format":false,"excerpt":"We still use too much fossil based energy here.\u00a0 We are a rich nation due in part to the abundant Natural Resources we have versus the population.\u00a0 Not everyone is rich though and it hurts some more than others when energy or food costs spike up.\u00a0 That all said, I\u2026","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/files.growthstockwire.com\/images\/GSW1-11.png?resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/files.growthstockwire.com\/images\/GSW1-11.png?resize=350%2C200 1x, https:\/\/i0.wp.com\/files.growthstockwire.com\/images\/GSW1-11.png?resize=525%2C300 1.5x"},"classes":[]},{"id":6736,"url":"https:\/\/www.ishmaels.net\/blog\/2011\/06\/23\/oil-release-from-the-reserves-for-what-purpose\/","url_meta":{"origin":4817,"position":5},"title":"Oil release from the reserves &#8211; for what purpose?","author":"wd0ajg","date":"June 23, 2011","format":false,"excerpt":"The reserves are there for the purpose of \u00a0\"EMERGENCY\". \u00a0Hell the price is trending down now before the release. I think they(the Governments) need to be investigated for manipulating the market more than the traders... how about you? \u00a0I know the price is high but it is there for several\u2026","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.ishmaels.net\/blog\/wp-json\/wp\/v2\/posts\/4817","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ishmaels.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ishmaels.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ishmaels.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ishmaels.net\/blog\/wp-json\/wp\/v2\/comments?post=4817"}],"version-history":[{"count":0,"href":"https:\/\/www.ishmaels.net\/blog\/wp-json\/wp\/v2\/posts\/4817\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ishmaels.net\/blog\/wp-json\/wp\/v2\/media?parent=4817"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ishmaels.net\/blog\/wp-json\/wp\/v2\/categories?post=4817"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ishmaels.net\/blog\/wp-json\/wp\/v2\/tags?post=4817"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}