Saturday, September 03, 2005

IEA to release oil and gas from reserves says Bodman

cnn money

Okay. This might help. The U.S. consumes about 21 million bpd. About 1.5 million bpd have been knocked out by Katrina as far as I've read. Bodman is releasing 60 million barrels or 2 million per day. If this is correct, we would have 30 days worth of replacement, right? I wonder about refining capacity? That's where the key lies. I haven't been to The Oil Drum lately. I'll have to look and see what's being said. Anyway, I don't think this will make prices any cheaper. They will just stay as they are I bet. At least for 30 days....

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