HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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Message: Re: US oil consuption
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US oil production... 1983 to 2008 daily production weekly average
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res-investor
Dec 09, 2008 01:43PM
Re: US oil reserve data and chart since 1900

res-investor
Dec 09, 2008 01:51PM

http://tonto.eia.doe.gov/dnav/pet/hi...



Looks like over the past couple months us has reduced consumption by about 1 million bls/ day on average



This gives some insight as to how this slowdown in the US has only had a minor impact on daily consumption.... thus the underlying supply demand relationship could easily revert back to a more balanced supply demand relationship with only a minor increase in consumption world wide.



One other point worth mentioning is that the US internal production is being reduced buy about 1 million bls every decade. Cheap oil will not be an incentive to drill drill drill as mentioned on BNN....

Conclusion: Cheap oil will not last very long! The lower it goes the sooner the price bounces... the longer it stays down... the higher it bounces...JMHO

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