Author Archives: Larry Ortega

Dennis Mangan, logi Energy: EIA Crude Oil, Distillate and Gas Inventories, Production and Usage Statistics Week Ending: 11/27/2009

Inventory Comments Crude Oil inventory increased another 2,091,000 barrels this week, to 339,899,000 barrels. Inventory is up 2,417,000 from 13 weeks ago and is up 19,527,000 barrels from a year ago. We are at the 88th Percentile in barrels in storage, and we are at the 97th Percentile based on the 24.15 days of usage in storage. Distillate inventory dropped […]

Dennis Mangan, logi Energy: Market and Diesel Fuel Hedging Discussion

November 27, 2009 Crude Oil: We closed down this week losing $0.67 to close at $76.05. We had a BUY SIGNAL and have partial hedges on at the 25% level. I remain negative but we follow the Indicators and they are still positive. The main reason for the strength is simply the US $ weakness. This week saw some $ […]

Chris Nelder, logi Energy-What Peak Oil Can Do for Climate Change: Follow the Yellow Brick Road

It’s fairly astonishing, but none of the climate change models take the peaking of any fossil fuels into account. They all project — over a period of 30 years or more! — fairly simple growth curves for population and the global economy, assuming that sufficient oil, gas and coal will be available to satisfy demand at historically normal prices. Continue reading →

Chris Nelder. logi Energy-China: The Vampire Squid of Commodities. Part Two

Well, I have explained it: America has no energy plan, and we won’t have one until we give up our fantasies about energy independence or drilling our way out, admit that oil is peaking, and get serious about planning accordingly. Continue reading →

Chris Nelder, logi Energy-China: The Vampire Squid of Commodities, Part One

Against a GDP growth rate of 8-8.5%, the stagnant supply picture means that China’s demand for oil imports will grow from 4 mbpd today to over 10 mbpd by 2020. China now constitutes 7.5% of global GDP and 9% of global oil demand, which will soon grow into the teens. Continue reading →

Dennis Mangan, logi Energy, Comments on Inventory

Crude Oil inventory surprisingly increased last week by 1,762,000 barrels to 337,676,000 barrels. Inventory is down 5,956,000 from 13 weeks ago and is now up 25,727,000 barrels from a year ago. We are at the 87th Percentile in barrels in storage, and we are at the 96th Percentile based on the 23.91 days of usage in storage. Distillate inventory increased […]

Chris Nelder, logi Energy: Is the IEA World Energy Outlook Politically Distorted?

The International Energy Agency (IEA) released its annual World Energy Outlook (WEO) this week — a report I always anticipate eagerly. Hey, it’s like Christmas for energy geeks. The IEA found coal in its stocking though, after a report the previous evening in the UK’s Guardian newspaper cited unnamed whistleblowers alleging the agency had been distorting its true view on […]

Commentary from Black Gold Readers

Editor’s Note: Thought that there might be interest in commentary from readers, after reading the article “Samuel Foucher, logi Energy: Peak Demand or Peak Consumption? A Look at the OECD Demand” Let us know what you think! Gail the Actuary on November 11, 2009 – 10:17am Thanks, Sam! This is really a nice post. Explains a piece of the puzzle […]

Samuel Foucher, logi Energy: Peak Demand or Peak Consumption? A Look at the OECD Demand

Standard economic principles have demonstrated that price is a function of supply and demand. The same is true for the recent oil prices fluctuations we have witnessed over the last few years, namely the adequation between supply and demand. However, the following conundrum has not been resolved: are oil prices high due to greater demand or too little supply? This ambiguity allows for vastly divergent interpretations of the same data and depending on the agenda you are trying to push, will easily support either. Continue reading →

Dennis Mangan, logi Energy, More on Last Week’s Crack Spread

The question is what will make this spread improve from here. I still can see nothing that should be a driving force to cause this spread to move up, until inventory decreases or demand improves Continue reading →


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