The OilSpot News by DTN
Monday, October 19, 2009 VOLUME 8 ISSUE 374  



OPEC Trims 2009 Loss in Global Oil Demand by 200,000 Bpd
Soros Plans to Invest $1 Billion in Clean Energy Technology
API Estimates US Drilling Activity Rebounded in Q3
Evolution Fuels Nears First Retail Renewable Fuel Outlet Rollout
Freight Index Up 0.7% in August but Down 10.9% on Year
Analyst sees OPEC Oil Exports Falling the Week of Oct. 31


US Retail Gasoline Average Up 2.1cts—Snaps 8-Week Decline
On-Highway US Diesel Average Up 1.8cts to $2.600 Gal
Home Heating Oil Average Gains 3.1cts at $2.531 Gal
US Propane Stockpiles Up 100,000 Bbl Week-ended Oct. 9


CFTC, SEC Issue Joint Report on Trade Regulatory Reforms
BlueFire Ethanol Relocates Project to Mississippi from California
Senate Energy Committee Hearing on Climate Bill on Wednesday
SFO Fuel, Chevron to Pay Fine, Upgrade Airport Tank Farm
Study Shows Biodiesel Produces More Energy Than It Uses
CFTC Cheers House Vote on Financial Derivatives Bill
Renewable Heating Technologies Gain Due to EU Mandates


Economic Indicators


Weekly Rack Postings

US Oil Demand Climbs in September
API says Year-on-Year Comparison Muddled by 2008 Hurricanes

U.S. petroleum deliveries during September increased year over year however, “comparisons against year-ago figures are muddled by the temporary effects of Hurricanes Gustav and Ike on crude production, imports, and product deliveries in September 2008,” the American Petroleum Institute reported in its Monthly Statistical Report. Domestic petroleum deliveries, a measure of demand, totaled 18.6 million bpd, up 4.1 percent from a year ago.

Gasoline deliveries in September strengthened, marking the fourth month in a row for which deliveries of that product regained ground over year-ago trends. The data shows deliveries increased 6.6 percent from September 2008, though API said a major part of that climb reflected unusual year ago conditions more than growth in 2009.

“The most basic explanation for increasing gasoline deliveries is the lack of hurricanes this September, compared with the major impact of Gustav and Ike last year on refinery production and product distribution,” said API Statistics Manager Ron Planting. “But even if last September’s deliveries had not been affected by those temporary factors, we estimate that this September’s deliveries still would have been up 2 percent or more from last year, apparently an indicator of the somewhat improved health of the economy.”


[FULL STORY]
 

IEA Pushes Cap-and-Trade
Energy Watchdog Urges Energy Industry to Stabilize GHG Emissions

The International Energy Agency has delivered a stark message to the energy industry in its 2009 World Energy Outlook—stabilize greenhouse gas emissions at 450 parts per million of carbon dioxide, or the climate change impacts will be severe.

This message was included in an excerpt of the outlook released by the agency on Oct. 6, the first time a portion of the full report has been released early. The agency did so in order to provide their suggestions and data ahead of the negotiations for the United Nations Climate Change Conference, taking place Dec. 7-18 in Copenhagen.

“Energy, which accounts for two-thirds of today’s greenhouse-gas emissions, is at the heart of the problem—and so must form the core of the solution,” said Nobuo Tanaka, executive director of the IEA, in the excerpt’s foreword. “We need urgently to set in motion an energy and environmental revolution, to transform the way we use energy and to deliver a sustainable future.”


[FULL STORY]
 



The API shows gasoline demand now up vs. year ago for four straight months. Will this trend continue?
Yes—the recovery in demand will endure
No—demand will be mixed in the months ahead
Not sure
  [See Results]


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