Monday, September 09, 2002 1:00:02 PM
Train Guy, I would imagine that stockpiling fuel in the ME would be quite easy for our military. The entire region is littered with tank farms and pipe lines, and has fairly substantial refinery capacity as well.
Refinery Capacity: http://www.eia.doe.gov/pub/international/iealf/table36.xls
Who's to say which tank farms or pipelines hold/carry what at any given time, or to whom it belongs?
Also, I would guess that our big bases in Saudi, Kuwait, and the UAE all have large storage facilities.
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As an aside, the Energy Information Administration is a must have link for anyone interested in stats on all types of energy issues. The link is: http://eia.doe.gov/
Also, the DOE itself has more info at its FossilEnergy.gov website: http://www.fossil.energy.gov/
--------------------------------------------
Here is a press release about the increased rate of filling the strategic reserve:
Administration to Increase Fill Rate of Strategic Petroleum Reserve -- Energy Department Moves to Accelerate "Royality in Kind" Program to Fill Nation's Emergency Oil Stockpile
NEW ORLEANS, LA - The Bush Administration is boosting the rate at which it is filling the Strategic Petroleum Reserve, the nation's emergency oil stockpile.
In a plan announced by the Administration last November, the U.S. Department of Energy is exchanging "royalty oil" (oil produced from federal leases in the Gulf of Mexico) for oil that is stored for emergency protection against future supply disruptions. Since May, about 60,000 barrels of oil produced daily from the offshore tracks is being exchanged for oil going into the Strategic Reserve.
Now, in a request for bids issued today, the Energy Department plans to increase the "royalty-in-kind" exchange program by an additional 40,000 barrels per day.
"More oil in the Reserve is more energy insurance for American consumers," said Energy Secretary Spencer Abraham. "And the faster we can add oil to the Reserve, the more energy security we can provide for all Americans."
President Bush has pledged to fill the Strategic Petroleum Reserve to its full 700 million barrel capacity. Using the "royalty in kind" program, the Government can meet the President's goal by 2005 without using taxpayer dollars to buy oil on the open market. The Reserve currently holds about 580 million barrels of crude oil in deep salt caverns along the Texas and Louisiana coast.
In today's request for bids, the department is asking companies to exchange up to 8,000,000 barrels of royalty oil from October 2002 through April 2003. Bids are due August 6, and as in past competitions, the department will award contracts to those companies that offer the best exchange rates and thus, the highest volume of specification-grade oil for the Reserve.
To carry out the "royalty in kind" program, the Department of the Interior's Mineral Management Service (MMS) leases Federal Outer Continental Shelf tracts to crude oil producers who, in turn, compensate the Government with royalty oil. In conjunction with the Energy Department's solicitation, MMS has issued a complementary solicitation calling for royalty oil to be delivered from the offshore production platforms to designated "market centers."
Companies awarded contracts from the Energy Department make arrangements to receive the royalty oil at the "market centers" and exchange it for delivery to the Strategic Petroleum Reserve.
Typically, the volume of oil that arrives at the Strategic Petroleum Reserve is somewhat less than the amount of oil produced from the offshore leases due to adjustments made for quality differences and transportation costs.
Working with MMS, the Energy Department plans to issue additional solicitations in the future until the Reserve is filled to capacity.
The previous "royalty in kind" solicitation, issued in January 2002, resulted in the competitive award of an 18.6 million barrel contract to Equiva Trading Company of Houston, Texas.
http://www.fossil.energy.gov/techline/tl_spr_rik2002_phase2_print.html
(:
My Threads --
Archive of Trading Stuff #board-1220
PPT Archive #board-1280
Charting Experiments #board-1263
Refinery Capacity: http://www.eia.doe.gov/pub/international/iealf/table36.xls
Who's to say which tank farms or pipelines hold/carry what at any given time, or to whom it belongs?
Also, I would guess that our big bases in Saudi, Kuwait, and the UAE all have large storage facilities.
------------
As an aside, the Energy Information Administration is a must have link for anyone interested in stats on all types of energy issues. The link is: http://eia.doe.gov/
Also, the DOE itself has more info at its FossilEnergy.gov website: http://www.fossil.energy.gov/
--------------------------------------------
Here is a press release about the increased rate of filling the strategic reserve:
Administration to Increase Fill Rate of Strategic Petroleum Reserve -- Energy Department Moves to Accelerate "Royality in Kind" Program to Fill Nation's Emergency Oil Stockpile
NEW ORLEANS, LA - The Bush Administration is boosting the rate at which it is filling the Strategic Petroleum Reserve, the nation's emergency oil stockpile.
In a plan announced by the Administration last November, the U.S. Department of Energy is exchanging "royalty oil" (oil produced from federal leases in the Gulf of Mexico) for oil that is stored for emergency protection against future supply disruptions. Since May, about 60,000 barrels of oil produced daily from the offshore tracks is being exchanged for oil going into the Strategic Reserve.
Now, in a request for bids issued today, the Energy Department plans to increase the "royalty-in-kind" exchange program by an additional 40,000 barrels per day.
"More oil in the Reserve is more energy insurance for American consumers," said Energy Secretary Spencer Abraham. "And the faster we can add oil to the Reserve, the more energy security we can provide for all Americans."
President Bush has pledged to fill the Strategic Petroleum Reserve to its full 700 million barrel capacity. Using the "royalty in kind" program, the Government can meet the President's goal by 2005 without using taxpayer dollars to buy oil on the open market. The Reserve currently holds about 580 million barrels of crude oil in deep salt caverns along the Texas and Louisiana coast.
In today's request for bids, the department is asking companies to exchange up to 8,000,000 barrels of royalty oil from October 2002 through April 2003. Bids are due August 6, and as in past competitions, the department will award contracts to those companies that offer the best exchange rates and thus, the highest volume of specification-grade oil for the Reserve.
To carry out the "royalty in kind" program, the Department of the Interior's Mineral Management Service (MMS) leases Federal Outer Continental Shelf tracts to crude oil producers who, in turn, compensate the Government with royalty oil. In conjunction with the Energy Department's solicitation, MMS has issued a complementary solicitation calling for royalty oil to be delivered from the offshore production platforms to designated "market centers."
Companies awarded contracts from the Energy Department make arrangements to receive the royalty oil at the "market centers" and exchange it for delivery to the Strategic Petroleum Reserve.
Typically, the volume of oil that arrives at the Strategic Petroleum Reserve is somewhat less than the amount of oil produced from the offshore leases due to adjustments made for quality differences and transportation costs.
Working with MMS, the Energy Department plans to issue additional solicitations in the future until the Reserve is filled to capacity.
The previous "royalty in kind" solicitation, issued in January 2002, resulted in the competitive award of an 18.6 million barrel contract to Equiva Trading Company of Houston, Texas.
http://www.fossil.energy.gov/techline/tl_spr_rik2002_phase2_print.html
(:
My Threads --
Archive of Trading Stuff #board-1220
PPT Archive #board-1280
Charting Experiments #board-1263
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