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VK2AAB > FUEL 27.04.11 07:16l 26 Lines 1237 Bytes #999 (0) @ WW
BID : 4176_VK2AAB
Read: GUEST DK3UZ
Subj: Re: Local Motion Lotion Prices
Path: DB0FHN<DB0FOR<DB0SIF<HB9EAS<DB0ZAV<7M3TJZ<UA6ADV<GB7CIP<VK2AAB
Sent: 110427/0108Z @:VK2AAB.#SYD.NSW.AUS.OC #:4176 [SYDNEY] $:4176_VK2AAB
From: VK2AAB@VK2AAB.#SYD.NSW.AUS.OC
To : FUEL@WW
The price here in Sydney today is $1.39 a litre. A week ago it was $1.49.
The price is likely to go up a bit soon as the US "Driving Season" is about
to start.The Saudi Arabian supply did not increase as promised to make up for
the Libyan reduction of near 1 Million barrels a day as promised.
That might cause some tightness in supply.
Chinese demand is still increasing so that will put the screws on even tighter.
The plateau of oil production is still going along at around 86 million barrels
a day for all liquids. A spike of an ectra 600,000 a day occured last month so
that will help.
The forward buying is signalling an increase in price in coming months.
It is not generally realised how dodgy imports of oil are balanced.
The US imports around 10 Mbd which needs 5 2Mbarrel tankers every day to arrive
in US ports without fail.
Japan is in a worse situation as they import all their oil.
They import 8 Million barrels a day. That needs 4 2Mb tankers a day.
It is a 100 day round trip from Japan to the Middle East.
That means 400 tankers are always at sea suppling just Japan.
You can see why alternative fuels have such difficulty in getting up to scale.
73 Barry VK2AAB
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