A Quote by Gary Miller
In the United States, oil demand is projected to grow by 340,000 barrels per day this year and gasoline demand is projected to grow nearly two percent, averaging 9.3 million barrels per day for the summer.
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The Asian nation's oil demand is expected to grow this year by 800,000 barrels per day and represents more than one-third of the total growth in global demand, according to the Energy Information Agency.
I do believe that oil production globally has peaked at 85 million barrels. And I've been very vocal about it. And what happens? The demand continues to rise. The only way you can possibly kill demand is with price. So the price of oil, gasoline, has to go up to kill the demand. Otherwise, keep the price down, the demand rises.
The price of crude oil accounts for 55 percent of the price of a gallon of gasoline, driven by global supply and demand. The United States depends on foreign sources of oil for 62 percent of our nation's supply. By 2010, this is projected to jump to 75 percent.
Here in the United States we're now consuming about three gallons of petroleum per person per day. That's twenty pounds of oil per person per day. We only consume about four pounds of oxygen per person per day. We're consuming five times more oil each day, here in the United States than we are oxygen. We've become the oil tribe.
Keystone will deliver 830,000 barrels of oil per day from Canada, North Dakota, and Montana to Gulf Coast refineries.
About 75% of the price of gas is really dictated by crude oil. At the heart of the issue is increasing demand over a period of many years around the world. World crude oil consumption now is close to 90 million barrels a day. Most of the growth in demand is coming from China and the developing world.
Keystone would allow us to transport 700,000 barrels of oil a day from our northern neighbor Canada to refineries in the United States.
The U.S. only has 20 billion barrels of oil in reserve. It seems as though there is no more oil around. Venezuela has 300 billion barrels of oil in reserves. Iraq has, like, 150 billion barrels of oil. Iran, close to 300 billion barrels of reserve. Oil for 200 years, of course.
The other are the strategic, so-called strategic stocks that the United States and the other Western industrial countries have, which could put in as much as four million barrels a day of oil into the market pretty quickly.
The NSF study projected a shortfall of 675,000 scientists and engineers without considering the future demand for such individuals in the marketplace. It simply observed a decline in the number of 22-year-olds and projected that this demographic trend would result in a huge shortfall. This could be termed the supply-side theory of labor market analysis. But making labor market projections without considering the demand side of the equation doesn't pass the laugh test with experts in the field.
Since 2006, we have surpassed Alaska, Oklahoma, Louisiana, and California in oil production to become the second largest oil-producing state in the nation, trailing only Texas. In 2012, North Dakota produced more than 245 million barrels of oil and provided nearly 11 percent of all U.S. output.
The videos that I post every day are averaging 7 million views per day. And I post one of those a day. I spend an average of $200 a day to make that. The Disney show that I'm on, they spend $2 million over the course of five days to create one episode that gets 1.7 million views.
If your credit is going to grow at 10-15 percent per year in order to get your 5 percent GDP growth per year, eventually you're going to have a problem. This isn't a stable system.
Much of the U.S. Midwest is already running on bitumen. Do we want to extend this addiction? And at what cost? Or should we set other goals and say one to two million barrels of oil a day from the tar sands is all we really need to make the transition?
A variety of factors contribute to the price of gasoline in the United States. These factors include worldwide supply, demand and competition for crude oil, taxes, regional differences in access to gasoline supplies and environmental regulations
A variety of factors contribute to the price of gasoline in the United States. These factors include worldwide supply, demand and competition for crude oil, taxes, regional differences in access to gasoline supplies and environmental regulations.
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