Okay, this subject has got me interested. I'm wondering how much oil is used daily by us and the rest of the world, how much goes into the Reserve
daily (if possible)?
If what we can figure goes into the Reserve on a regular basis is a
small percentage of the world's daily consumption, we could assume that
either Kerry doesn't know what he's talking about, or he's blowing smoke to get votes. If it is but a small amount of the daily usage, it
would
not affect the price of oil, right???
Stocks of Crude Oil and other Petroleum Products, US: (PDF)
www.eia.doe.gov...
Official Energy Statistics from the U.S. Government
www.eia.doe.gov...
This link had many graphs showing global oil cinsumption. I am assuming this is the latest data
available.
World Oil demand by
Regio, 1980-1999
The developed economies use oil much more intensively than the developing economies, and Canada and the United States stand almost alone in
their consumption of oil per capita (see graph). For instance, oil consumption in the United States and Canada equals almost 3 gallons per day per
capita. (The difference is these countries' transportation sectors, with their dependence on private vehicles to travel relatively long distances.)
Oil consumption in the rest of the OECD equals 1.4 gallons per day per capita. Outside of the OECD, oil consumption equals 0.2 gallons per day per
capita.
Regionally, the largest consuming area remains North America (dominated by the United States), followed by Asia (with Japan the largest consumer),
Europe (where consumption is more evenly spread among the nations), and then the other regions. As the regional graphs illustrate, Asia was the
region with the fastest demand growth until the 1998 economic crisis in East Asia. The region's economic upheaval is a central reason for the oil
price collapse of 1998.
The United States and Canada use oil more for transportation than for heat and power, but the opposite pattern holds for most of the rest of the
world: most regions use more oil for heat and power than for transportation. As a result, global demand for oil is highest in the Northern
Hemisphere's cold months. There is a swing of 3-4 million barrels per day (some 5 percent) between the 4th quarter of the year, when demand is
highest, to the 3rd quarter, when it is lowest. (The precise amount varies from year-to-year, depending on weather, economic activity and other
factors.) While the 4th quarter is not the coldest in any region, estimated demand calculations are swollen by the traditional stock building that
occurs during the period.
Demand for crude oil is derived from the demand for the finished and intermediate products that can be made from it. In the short-term, however,
demand for crude oil may be mismatched with the underlying demand for petroleum products. This misalignment occurs routinely as a result of stock
changes: the need to build stocks to meet seasonal demand, for instance, or the desire to reduce stocks of crude oil for economic reasons. In the
longer term, blending non-petroleum additives into petroleum products (such as ethanol or other oxygenating agents into gasoline) can also reduce
crude oil demand relative to demand for finished products.
global oil consumption
Here's another chart:
U.S. Oil Demand by End-Use
Sector, 1950-2000
I'll see what else I find later. Any help here would be appreciated