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Oil Exporters Are Now Unable To Keep Up With Demand

The world's top oil producers are proving unable to put more barrels on thirsty world markets despite sky-high prices, a shift that defies traditional market logic and looks set to continue.

Fresh data from the U.S. Department of Energy show the amount of petroleum products shipped by the world's top oil exporters fell 2.5% last year, despite a 57% increase in prices, a trend that appears to be holding true this year as well.

There are several reasons behind the net-export decline. Read Article
Oil Exporters Are Now Unable To Keep Up With Demand



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MichaelTaylorMichaelTaylor - 5/29/2008 10:25:48 AM
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The Chinese and Indians and especially the Europeans need to focus on producing and driving fuel efficient cars like hybrids for example. Lexus has a good chance to dominate the Chinese and Indian market given their unrivaled luxury hybrids and the fact that the vast majority of their cars are class leaders in fuel economy.

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MtlMotorsMtlMotors - 5/29/2008 10:40:13 AM
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I'm surprised they actually let you post on here...


MichaelTaylorMichaelTaylor - 5/29/2008 11:33:40 AM
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In America our cars are subject to stringent environmental laws. Our cars might also be fuel inefficient but they're clean in terms of emissions. Not the case in Asia and Europe.


StarStar - 5/29/2008 12:35:32 PM
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Ha, ha, ha...get a clue buddy. Most of the States in America allow cars that pollute heavily to be driven without any restriction. NOT the case in Europe were cars undergo heavy testing(including level of pollution) every year or every two years in order to be allowed on the streets.
In America you can drive a car that pollutes heavily and is overall technically and esthetically in an unacceptable condition which puts the lives of other participants in traffic at risk. AGAIN!!!... in most of the States in America you can drive any 200 dollars POS car without anybody ever making sure that the car is safe enough to be driven on a public road!!!!!!!


85bmw745i85bmw745i - 5/31/2008 7:22:28 AMView My AgentSpace
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The europeans do drive more efficient cars than we do Dumb ass. you are the most ignorant A$$ I have ever encountered. none of your posts make sense. We Amreicans are the most wastefull when it comes to fuel. All of the other countries you listed drive much more fual effecient cars than we do.


85bmw745i85bmw745i - 5/31/2008 7:24:51 AMView My AgentSpace
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How can a fuel Ineffecient car be clean? Thats like seeing a Mcdonalds infested with roached but saying it's sanitary. You must be an abortion that lived. I bet in school you asked the teacher what came after X, she said Y and you said because I want to know.


SteedPubSteedPub - 5/29/2008 10:49:42 AM
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It is time for the US Citizens to demand more drilling and exploration here in the States. For too long the environmentalist whackos have been in charge, meddling and preventing our oil industry from adding new supply and capacity. Time to throw them and their socialist global warming notions off the train.

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M35MTM35MT - 5/29/2008 1:30:28 PMView My AgentSpace
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While I agree, those reserves are necessary for the ever so imminent 'oil armagedden'.

I cant spell today but you know what I mean.


cycocyco - 5/29/2008 7:32:07 PM
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Amen. We need to drill and get away from the OPEC teet.


markanthony0419markanthony0419 - 5/30/2008 10:00:11 AM
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Its unreal how 10% of the population determines what this country does what happened to majority rules.


damikcodamikco - 5/29/2008 11:11:32 AMView My AgentSpace
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This is 2008 the technolgy and capicity does exist for the oil companies to supply the world with oil. Oil is more plentiful then you think and it is far less expensive to refine then you think, but in a capitlist socitey why would big oil give us a brake when they are making more money in the history of oil drilling? Big oil is the most profitable industry in the history of mankind.

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Bmw8terBmw8ter - 5/29/2008 11:24:39 AM
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Education is the most profitable industry of all time. Atleast in the U.S.


Bmw8terBmw8ter - 5/29/2008 11:27:31 AM
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Big Oil's got nothing on the top universities in the U.S.


ChicaneShooterChicaneShooter - 5/30/2008 2:29:19 AM
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you only display your OWN ignorance. the indians invented the concept of Zero. modern mathematics --to say nothing of engineering-- would've gotten NOWHERE without that!

and the contributions of the chinese to ALL the arts of civilization are too numerous to mention.

as far as mere mechanical driving skills, most asians have not had the LUXURY of open and uncrowded roads that americans enjoy. on the other hand, in the "combat driving" of dense, inner city traffic, they'd leave tire tracks ALL OVER your sorry @ss.



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SteveLSteveL - 5/29/2008 3:11:48 PM
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Its all a bunch of greedy BS! The oil company's and the government are treating us like crap!

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NeverfollowNeverfollow - 5/29/2008 3:18:04 PM
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It's interesting to note that the US consumption of oil is at a new 5 year low as of yesterday. The rest of the world is up however.

What we are starting to see is the availability of cheap oil decreasing. There's still a lot of oil around, but not in easy places to get to or in easy condition to pump and refine. Saudi production has peaked and is on the decline. For years, they have been the cheapest oil around.

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simmonsdpsimmonsdp - 5/29/2008 4:22:01 PM
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Oil just went down to $126.46... :-)

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BostonBiosafetyBostonBiosafety - 5/29/2008 5:03:00 PM
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To date I have never seen, heard or read of any gas station stating they cannot get gas. They have been talking about a shortage for quite some time now starting a few years ago...maybe the oil is with the rice and wheat you cannot buy.(sarcasm)

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cdokecdoke - 5/29/2008 7:26:29 PMView My AgentSpace
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I have said this before, and I will say it again.

Any article that states there are going to be oil "shortages" is junk- and is no doubt written by some semi-retarded twit with a degree in journalism.

Shortages only occur when the government sets price controls. Yes, we had shortages in the 70's. The reason we had them is because Nixon signed the Emergency Petroleum Allocation Act in 1973, which set prices below the market equilibrium.

Now, what these people are actully talking about is a decrease in supply. What happens then? The price rises and the market re-equilibrates; no shortage. From the perspective of the market consumption = production. Always.

Now, there are complcating factors. Because industries that operate under a fixed stock contraint are subject to inter-temporal allocation optimality, it can be argued that there is no supply cuve. That does not actually change what I said above however.

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DW1968DW1968 - 6/2/2008 2:30:59 PM
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Fine, but what you're saying describes the situation in a theoretical/technical sense.

From the perspective of the average person/practical reality, based on current demand level and growth rates and price expectations, there is a shortage.

Of course if you reduce demand, slow down growth, or increase people's price expectations, then the theorectical model always works...but that's not how people actually see the situation, or feel it in their day-to-day lives or pocketbooks.


huu76huu76 - 5/29/2008 11:00:06 PM
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News to everybody, China surpassed the U.S. as the worlds largest polluter this year.
World demand is lower than supply, hence Saudi Arabia not increasing production.
It's speculators that are pushing the prices up, and oil companies raising prices because there is no alternative yet (Honda FCX is almost here, but it's still more profitable for the Europeans to sell diesels). Demand in China is set to drop because of the slower US economy. I don't really expect people like Star to fathom this sort of analysis though.

Difference is China/India had an opportunity to start fresh by mandating hybrid/green technologies and infrastructure. They didn't because they had dreams of "superpower" status which clearly they are not.

Europeans are so smart they use diesel which requires more oil to make in the place where diesel is least efficient, the city. Brilliant. Can't wait to see the day the U.S. says enough and frces Europe secure its own oil, or play bitch to Russia.



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TheSailorTheSailor - 5/30/2008 3:16:17 PMView My AgentSpace
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News to huuey... China passed the US in CO2-EMMISIONS... But then again, they do have four times the popolation! The US still have an energyconsumption pr capita which is twice as high as the average in europe... Chinas is only 1/4... And canada consumes even more... And don't give me the "But it's cold here"-argument... That is just lame! Northern Sweden is at least as cold as Canada, and still, their consumption is only half!

And as to the FCX, it is still a tiny little step! And it isn't viable for anywhere outside a few urban areas unless you have a towtruck to move it around with!

Diesel still doesn't consume more crude oil as it is a different part of the crude oil... So if we didn't use all that diesel oil, the oil companies would have to earn more on the gasoline and demand for gasoline be higher forcing the prices even further up!
And we wtill only consume half the fuel of you guys... So even though we are quite a bit more people here than in the US, we still consume less crude oil (and NO im not talking pr capita here)...

So why don't you wait until we actually consume more than you guys do with your little anti-europe rant?!


huu76huu76 - 5/29/2008 11:22:26 PM
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To anybody who thinks Americans are hypocrites because they drive gas guzzlers. Who makes high powered turbocharged SUVs for the city with less and less cargo room?

Range Rover, MB AMG-anything, BMW's sports-activity-waste-of-space, V8/V10/V12 2-seaters, V10 and V12 diesels. Bluetec when required, dirtier, more profitable CDI diesels when able.

Atleast most trucks that are sold in N.A. are either used for business, or NOT driven in the city.

Star,
Yeah, I'm sure there aren't any cars in Europe older than 3 years. Then again, its not like they can spend their money on homes.

Ontario has a program that tests and limits emissions for cars older than 5 years. It's called drive clean and its a pain in the ass.
http://www.ene.gov.on.ca/en/air/driveclean/index.php
What the hell does Europe have besides inflated egos?

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TheSailorTheSailor - 5/30/2008 3:26:52 PMView My AgentSpace
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LOL... They only make those because americans keep buying them... And at least the european engines are build to be as efficient as possible unlike cars like the Tundra... Silly argument... Ofcause they make guzzlers if they can sell them! They are in it for the money. Not because they want to make the world a better place!

"Ontario has a program that tests and limits emissions for cars older than 5 years. It's called drive clean and its a pain in the ass.
http://www.ene.gov.on.ca/en/air/driveclean/index.php
What the hell does Europe have besides inflated egos?"

HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA

YOu know what? You should learn to harness your own inflated ego... According to danish legislation for instance, ALL cars older than four years have to get a safety and emmisions check to make sure they don't pollute ANY more than when they new... and since it is legislation, the entire country has to comply with it not just a single city. Germany has the TÜV, the UK has the MOT, Sweden, Norway, France, Switzerland, Austria, Italy, Spain etc. all have similar requirements!

So kudos to Ontario, but honestly, do some research before you start shooting your mouth off! And btw: One city!? What about the rest of Canada?! And far more important; WHAT ABOUT THE US?!

LEARN TO DO YOUR RESEARCH, OR YOU'LL JUST LOOK STUPID!

Now how does that inflated ego feel little huuey?


85bmw745i85bmw745i - 5/31/2008 7:26:54 AMView My AgentSpace
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Those are made primarily for the power hungry American market.


toolatetoracetoolatetorace - 5/29/2008 11:56:57 PM
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This is the article that the speculators have been waiting for . Bid up a storm guys and let the shilling begin

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NSXRNSXR - 5/30/2008 5:24:42 PM
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THERE PLENTY OF OIL! WE JUST AREN'T PAYING ENOUGH TO GET IT!

Iran has doubled up on floating oil storage. They currently have at least 10 VLCC tankers moored in the Persian Gulf with approximately 20 million barrels of crude. Iran's crude is high in sulphur and only a few refineries can process it. Iran has nowhere to move its crude. With Iran contracting so many tankers just to load and wait the price for available tanker rental has more than doubled in the past three weeks. This is also pushing the price of oil higher since there is a shortage of tankers to transport to places in need.

Iran musings: Iran now has 28 million barrels of crude parked in the Persian Gulf. Why? Here is where the plot thickens. You may remember Iran threatened to cut production last week and that sent oil prices soaring before the claim was softened. Is Iran just waiting for oil prices to go higher to get a better price for their oil? Was the production cut rumor a way to jack up prices even higher? Surely they would not take this big of a gamble worth billions of dollars with a plan to bluff prices higher. Absolutely they would! They tried this exact strategy in 2006 and failed. Beginning in March of 2006 Iran started making threats that they were going to cut production while storing 20 million barrels of crude in tankers parked in the gulf. Unfortunately for Iran instead of paying Iran's higher price for crude there was enough oil on the market then for traders to just buy elsewhere. Iran's bluff did not work and they ended up selling it at a huge discount to Shell and India's Reliance. It appears Mahmoud Ahmadinejad is so desperate for money to keep his regime alive that he is trying the same trick and with Saudi willing to pump more of a higher quality oil it appears Iran is going to lose money again. Iran is in economic trouble with 45% of the population kept inline only by heavy subsidies and military force. The other 55% are ethnic Persians. Iran is extremely vulnerable right now. If the U.S. was able to pressure Iran's primary oil buyers (Japan, China, South Korea and Italy) to look elsewhere for another month or so then Iran would really be in trouble and the regime could fail. 80% of Iran's revenues come from oil and for whatever reason it is not selling. Now might be the time to tighten the noose.

.02


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huu76huu76 - 5/30/2008 11:17:51 PM
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sailor,
My ego is just great, how about yours?
Learn to read. Drive-clean tests (every 1 or 2 years)our cars and by law forces repairs if it fails.
One city? Ontario is a province, it has a larger population than many european countries and is 1/2 the size of ALL of europe.
Toronto (a city) does have hydrogen stations (and a pop'n of 7 million) so the FCX is viable.
As for the US, why are diesels barely 45 state legal but have free reign in Europe? 15 other states are planning to follow California's new emissions standards.
Regarding the rest of Canada, Quebec is planning to adopt California's new standard by 2010 (4 years ahead of Europe). Ontario and Quebec make up 2/3rds of Canada's pop'n (landmass the same size as Europe) so whether the rest of Canada tests or not isn't quite so bad.

Europeans are just greedy. They want money, so they still build gas guzzlers because they don't want us to only buy American/Japanese.

Compare the Tundra to the Touerag V10 diesel and tell me how you save oil. There's not a great deal of difference between barrels of oil used, mpg or CO2 footprint, but the Tundra scores 6 and the VW a 1 in air pollution score.
VW's 4.2L V8 performs just as badly as Toyota's 5.7L V8. So what's this about efficient European engines?
http://www.fueleconomy.gov/feg/findacar.htm

To simplify for you, 1 barrel of oil = 1 barrel of gasoline or 1/2 barrel of diesel.

Do you need help researching a comeback?

NSXR,
If the US would just force Europe to secure their own oil, then there'd be no problem. However, China would jump in long before Europe even had a clue.

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TheSailorTheSailor - 5/31/2008 5:16:14 AMView My AgentSpace
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LOL... SO Ontario is 80 million people (The population of Germany)... Germany has hydrogen filling stations (and unlike Toronto, they have busses which run on it). Used vehicle certification is done every two years, if you don't show up, your car will be impounded and forced through the check, if your car doesn't comply with the requirements, your license plates will be taken and you can't use it until it has been repaired.

As to diesel car emmisions, you know just as well as I do, that the only reason diesels are only now becomming 50 state legal (And they are in case you missed it) is because of some ridiculously low NOx-restrictions! But then again, it took the american car manufacturers a great deal of efforts to get their cars approved in europe because of those oldfashioned and hugely polluting engines approved for europe because they couldn't work out how to burn all the fuel, so they couldn't get down to our HC-requirements (thats hydrocarbons and means unburned fuel in the exhaust)... So I guess it goes both ways!

As to the Tundra, as far as I can see, both the V8 and V10 Touareg has better test MPGs than it...

And how the hell did you come up with 1 barrel of oil = 1 barrel of gasoline OR 1/2 barrel of diesel?!?!? No crudeoil can be converted completely into gasoline! Far from it! The potential gasoline yield is up to 40% (depending on the type of crude it might be as low as 15%) and the diesel yield is around 20%... That means that under ideal circumstances, your equation would look like this:

1 barrel of crude = 0.4 barrels of gasoline AND 0.2 barrels of diesel...

And no... You can't just use the diesel part for gasoline instead... That is not how it works...

Wow... And that was with just five minutes of research! Just imagine what I could do if a actually could be bothered spending some time on it!


huu76huu76 - 5/30/2008 11:21:06 PM
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The Economist even describes Europeans as "overly self-important but largely insignificant to the rest of the world".

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TheSailorTheSailor - 5/31/2008 5:19:03 AMView My AgentSpace
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LOL... Okay... And one thing is for sure: The americans are not overly self important! Oh no! That's for sure!


huu76huu76 - 6/2/2008 10:59:41 PM
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Americans can back up what they think, well, maybe not the Democrats.

Ontario's certification is done every 1 or 2 years (depending on how you reregister your license plates) after your vehicle is 5 years old.

my barrel comment was to simplify.
1 42 gallon barrel of oil contains approx 19 gallons of gasoline grade oil and 9 gallons of diesel grade oil. You see the 2-1 ratio? By the way, 1 barrel of oil makes over 42 gallons of output due to the refining process. You undersand nwo taht you need 2 barrels of oil to make an equivalent volume of diesel comapred to the volume of gasoline produced? You should know that for someone who works on an oil tanker.

VW's diesels do outmileage the Tundra's gas engine by about 15% (big surprise if its highway), but look at the air pollution scores. 6 for the tundra, 1 for the VW. CO2 and carbon footprint are basically the same.

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TheSailorTheSailor - 6/3/2008 2:00:48 PMView My AgentSpace
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So how is Ontarios certification any different than ALL OF EUROPE'S?!? And our certification doesn't just include emmisions, but brakes, corrosion, lights, drivetrain, safety equipment and tyres... Basically, a complete safety check to make sure that you don't drive around in a regular death trap! I've seen an american used vehicle check... That was checking the indicators (who nobody use anyway) and that the car was able to reverse and brake... Nothing else! No wonder USA has a car fatality rate twice as high as the european!

And I never denied the fact that you get more gasoline than diesel from a barrel of crude, but your statement was that all the crude could be converted to gasoline - Not true! And the 19 gallons are under ideal circumstances! Because though I've NEVER served on an oil tanker (thank god), I do know something about crude. And crude is not just crude! IT is true that you can get roughly 40% gasoline from sweet crude (with further refining, basic yield is roughly 30%). HOWEVER, Heavy sour crude might contain as little as 14% gasoline... So even your whole idea is flawed!

And as an added bonus info, I would like to point out that heavy crude contains more gasoil (the stuff you know and love as diesel) than gasoline... more than 25% gasoil... Nice, huh?
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