Message-ID: <3244460.1075846349578.JavaMail.evans@thyme>
Date: Fri, 22 Sep 2000 10:07:00 -0700 (PDT)
From: alhamd.alkhayat@enron.com
To: steven.kean@enron.com, rob.bradley@enron.com
Subject: US Oil consumption
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FYI, from the EIA:

The United States consumed 19.5 million bbl/d of oil in 1999. Of this, 8.4=
=20
million bbl/d (or 43% of the total) was motor gasoline, 5.0 million bbl/d=
=20
(26%) "other oils," 3.6 million bbl/d (18%) distillate fuel oil, 1.7 millio=
n=20
bbl/d (9%) jet fuel, and 840,000 bbl/d (5%) residual fuel oil. U.S. oil=20
demand is expected to increase by about 110,000 bbl/d (0.6%) in 2000.

and

Continued lower U.S. crude oil production combined with strong oil demand l=
ed=20
the United States to import 10.6 million bbl/d of oil in 1999, representing=
=20
54% of total U.S. oil demand. Around 46% of this oil came from OPEC nations=
,=20
with Persian Gulf sources accounting for about 23% of U.S. oil imports duri=
ng=20
the year. Overall, the top suppliers of oil to the United States for 1999=
=20
were Canada (1.67 million bbl/d), Saudi Arabia (1.46 million bbl/d),=20
Venezuela (1.45 million bbl/d), and Mexico (1.30 million bbl/d).=20

and from Reuters:


WASHINGTON (Reuters) - The United States decided on Friday to release oil=
=20
from its Strategic Petroleum Reserve to damp decade-high energy prices, the=
=20
first time the stockpile has been tapped for a national emergency since the=
=20
1991 Gulf War.

Energy Secretary Bill Richardson said the U.S. government would release 30=
=20
million barrels of oil over a 30-day period from its 571-million-barrel=20
reserve created after the 1973 Arab oil embargo that choked off world growt=
h.

``We are prepared to take further action if necessary,'' he told a hastily=
=20
convened news conference after an all-day meeting of administration officia=
ls.

The announcement by Richardson followed an intense and unusually public=20
debate by Clinton administration officials in recent days that raised=20
accusations the White House was trying to help Democratic presidential=20
candidate Vice President Al Gore (news - web sites) win the Nov. 7 election=
.

The debate intensified after Gore urged President Clinton (news - web sites=
)=20
on Thursday to release oil from the reserve in batches of 5 million barrels=
.

Gore's call, made within weeks of the November election, was criticized by=
=20
his Republican rival George W. Bush (news - web sites) as ``bad policy''=20
motivated by the need to assure Gore's victory.

``It's a bad idea because the Strategic Petroleum Reserve needs to be used =
in=20
case of war or a major disruption,'' Bush told reporters, in response to=20
Richardson's announcement, at a campaign stop in Tampa, Florida.

``I believe that the vice president has made this decision with the=20
president's support to achieve short-term political gain,'' he added.


that's enough oil for 1 day and 14 hours, or reducing for one month by 10%=
=20
the amount we need to import--this is not a solution.  our oil reserves cov=
er=20
100% of our export needs for 54 days--this may not be the best use.  bush=
=20
(steve aside from the ferc complaints) may want to focus on the following=
=20
from msnbc regarding gasoline prices:


? ? ?In the Midwest, the nation=01,s most expensive gasoline market this we=
ek,=20
oil companies blamed the $2-a-gallon-plus prices on taxes and the cost of=
=20
introducing new federally-required cleaner fuel this month. The price spike=
=20
prompted the Federal Trade Commission to open a formal investigation into=
=20
possible price gouging and collusion, and has led Indiana=01,s governor to=
=20
suspend the state=01,s gasoline sales tax for 60 days.=20

realizing that only 43% of gas pump price is composed of crude oil--the res=
t=20
28% taxes and 29% refining costs, distribution costs, and profits.


Alhamd Alkhayat
+1(713)853-0315