tag:blogger.com,1999:blog-3691535.post275783203318261882..comments2023-10-19T21:43:02.001+08:00Comments on Dunner's: James Hamilton: Oil Price FundamentalsJDsghttp://www.blogger.com/profile/04735390644321868222noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-3691535.post-60149889403809174342008-05-24T21:15:00.000+08:002008-05-24T21:15:00.000+08:00I'm not quite sure what your point is with respect...I'm not quite sure what your point is with respect to the ITC statistics. (BTW, I am very, <I>very</I> familiar with these stats.) If you mean by the number of different categories the US has exports of, well, so what? The vast majority of other developed economies have exports in just as many categories as the US (and a couple of countries have exports in even more categories than the US). If you're talking about the amount of exports that are shipped out of the country, then the US comes in third, behind Germany and China, both of whom have higher dollar amounts of exports than the US. (Likewise, as a whole, the European Union has more exports than the US.) See the <A HREF="https://www.cia.gov/library/publications/the-world-factbook/rankorder/2078rank.html" REL="nofollow">CIA World Factbook</A>. <BR/><BR/>So, by your logic, I'm guessing you think that the more a country exports, the higher its petroleum consumption. But it obviously doesn't work that way when, for example, China exports more than the US but, as I mentioned yesterday, uses only one-third the amount of oil the US does. No, the US is very much an oil glutton.JDsghttps://www.blogger.com/profile/04735390644321868222noreply@blogger.comtag:blogger.com,1999:blog-3691535.post-87132308358390604412008-05-24T19:07:00.000+08:002008-05-24T19:07:00.000+08:00STOP USING SO MUCH OIL!Right, take a look at the e...STOP USING SO MUCH OIL!<BR/><BR/><BR/>Right, take a look at the export data from 2001-2005:<BR/><BR/>http://www.intracen.org/tradstat/sitc3-3d/indexpe.htm<BR/><BR/>This is why the US utilizes more oil than other countries.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3691535.post-36282352139936928012008-05-23T08:39:00.000+08:002008-05-23T08:39:00.000+08:00I would not call the US' consumption of oil glutto...<I>I would not call the US' consumption of oil gluttony.</I><BR/><BR/>Well, I do. American oil consumption outstrips any other country by very large margins. In 2005 (last available numbers), American oil consumption was 20,802.16 thousand barrels <I>per day</I>; the second highest country was China, with 6,720.00 thousand barrels per day (32.3% of the American total); the third highest country was Japan (5,353.19 thousand barrels perr day; 25.7% of the American total). The US consumed more oil than all of Europe (16,276.58 thousand barrels per day) and Eurasia (the former Soviet Union; 4,072.90 thousand barrels per day) <I>combined.</I> The US doesn't have the world's highest per capital consumption (those usually go to small island countries), but on an aggregate scale, they're far past all other countries. It's gluttony, pure and simple.<BR/><BR/><BR/><I>The US consumes oil in the primary form of gasoline/diesel/jet A for transportation. While there is a leisure component to the consumption, most of the consumption is for production. Going to work, transporting goods, etc. etc.</I><BR/><BR/>It doesn't matter how the US uses the oil; more or less all countries use petroleum for the same reasons (transportation, industrial, residential and commercial, electrical generation). The problem is that the US uses far more oil than anyone else.<BR/><BR/><BR/><I>There are quite simple solutions to this, but they will not be addressed until oil production truly peaks.</I><BR/><BR/>The problem is not production, but consumption. Yes, the solution is very simple: STOP USING SO MUCH OIL!<BR/><BR/><BR/><I>I challenge you to find out how much electrical power for industry, lighting, etc. in the US is actually generated from crude oil derivatives. Probably insignificant quantities of oil relative to the amounts used for transport.</I><BR/><BR/>You obviously haven't read more of my blog; I addressed this issue <A HREF="http://dunner99.blogspot.com/2007/12/us-primary-energy-consumption-by-source.html" REL="nofollow">last December</A>. As a primary source of energy, petroleum went mostly to transportation (69%), followed by industry (24%), residential and commercial (5%), and electrical generation (2%). My question to you is, why are you focusing on the pebble when you should be concerned with the stones and boulders behind it?JDsghttps://www.blogger.com/profile/04735390644321868222noreply@blogger.comtag:blogger.com,1999:blog-3691535.post-32750712398173733442008-05-23T06:56:00.000+08:002008-05-23T06:56:00.000+08:00I would not call the US' consumption of oil glutto...I would not call the US' consumption of oil gluttony. The US consumes oil in the primary form of gasoline/diesel/jet A for transportation. While there is a leisure component to the consumption, most of the consumption is for production. Going to work, transporting goods, etc. etc. There are quite simple solutions to this, but they will not be addressed until oil production truly peaks. <BR/><BR/>I challenge you to find out how much electrical power for industry, lighting, etc. in the US is actually generated from crude oil derivatives. Probably insignificant quantities of oil relative to the amounts used for transport.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3691535.post-27554217391990654922008-05-21T22:10:00.000+08:002008-05-21T22:10:00.000+08:00From EIA (http://www.eia.doe.gov/emeu/internationa...From EIA (http://www.eia.doe.gov/emeu/international/RecentPetroleumConsumptionBarrelsperDay.xls), China in 2006 consumed 7.273 mb/d. From CIA (https://www.cia.gov/library/publications/the-world-factbook/geos/ch.html), China's population is 1330 million. 7.273 mb/d x 365 d/y / 1330 m persons = 2.00 b/person-year.Anonymousnoreply@blogger.com