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Old 06-06-2008 | 11:35 AM
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INAV8OR
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From: Right hemisphere of DCFranken9's brain
Default What has to happen to lower OIL...

Time for a bit of a rant, hold on tight...
#1 United States: 20,730,000 bbl/day
#2 China: 6,534,000 bbl/day
#3 Japan: 5,578,000 bbl/day
#4 Germany: 2,650,000 bbl/day
#5 Russia: 2,500,000 bbl/day
http://www.nationmaster.com/graph/en...il-consumption

This is what we have in reserves.

STRATEGIC PETROLEUM RESERVE INVENTORY

CURRENT SPR INVENTORY AS OF June 06, 2008
SWEET SOUR TOTAL
281.1 million bbls 423.1 million bbls * 704.2

http://www.spr.doe.gov/dir/dir.html

704.2/20.7=34 days worth of Oil. Now we don't want to tap all of it and the US doesn't want to change anything, so how about tapping 1/2. Thus, building up the supply and drive prices down. I know this thought is a pipe dream seeing that China has 1.3 billion people and
According to the U.S. Bureau of the Census, the resident population of the United States, projected to 06/06/08 at 19:32 GMT (EST+5) is
304,269,221. So, how can we be using almost 3 times the amount of Petro.
Nonetheless, something needs to be done to prevent all of us from getting canned.
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