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Discussion: (6 comments)

  1. Vic Volpe

    Read Daniel Yergin’s ‘The Quest’, and his older edition, ‘The Prize’.

  2. The Unknown One

    Mark,
    Read the two comments with the bold here. EIA estimates weekly oil production, then after a few months makes a more accurate estimate for each month. Lately the monthly revisions have been upward, pretty dramatically in some cases. Interesting chart, if you want to do it, would be to overlay the weekly estimates with the monthly numbers. The EIA does not update the weekly estimate tables after they come out with the monthly numbers, so all the original estimates are still there in the old data.

    Monthly numbers are here. Weekly numbers are here. As I write this they seem to be tinkering with the website so you might have to get the same data from FRED or elsewhere in the meantime.

    Anyway, for all we know, monthly production right now could be around the 7.1 or 7.2 million barrels/day mark, and we just don’t know it yet.

  3. Boy, compared to republican presidents like Bush, Obama sure has a great energy policy.

    1. MacDaddyWatch

      Name one positive/drilling friendly initiative or policy…one. Just one.

      The surge has been due to entrepreneurial spirits and free market capitalism. And the success are all on private land that couldn’t be stopped even if our Oval Office incompetent wanted.

      We are in “AN IN SPITE” OF economy.

  4. Keith Flitner

    It would be great to see this same information plotted along with the average weekly price of a gallon of gas.

  5. Meanwhile, gasoline usage shows no real evidence of a recovery.

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