The Oil Drum: Australia/New Zealand

The American Physical Society has just released a report on improving energy efficiency in the transportation and buildings sector:

Energy = Future Think Efficiency

There are links from the above to an Executive Summary and the full report (100 page PDF). This is not just a "change your light bulbs" document, but rather a comprehensive, information-filled challenge to the status quo with regards to government inaction with regards to energy conservation. It is also not a document on energy production and future difficulties in being able to do enough of this to keep the lights on -- even with better efficiency. But it is well worth a read, with lots of data on energy use and great graphics.

VLCC Tanker - capable of transporting 2 million barrels

Tomorrow at 10:30 EDT we will get our first official report of crude/product inventories since Hurricane Ike and second since Hurricane Gustav. Below the fold are some brief thoughts on what has transpired in the past week, followed by an open thread.

I have seen the question frequently arise as to whether the ethanol blending mandate is based on rigid numbers (e.g., 9 billion gallons in 2008) or whether it is actually a percentage requirement, and the number is an estimate based on projected gasoline sales. In other words, let's say that hypothetically gasoline sales this year are only half the level of last year. Is the mandate still for 9 billion gallons, or does it drop to 4.5 billion gallons?

Also, a claim was recently made here that refiners are underblending ethanol this year, and are likely to end the year in violation of the mandate. So, I also sought some clarification around this issue. I contacted Peter Gross at the EIA, who seemed to be their expert in this area. He was kind enough to reply, and clarified both issues:

Here is a link to the DOEs This Week In Petroleum. US crude inventories fell 7.6 million barrels. Consensus was for a drop of 1.5 million barrels. Total gasoline inventories rose 3 million barrels, much higher than an 800,000 expected rise. Implied gasoline demand fell .7% relative to the previous week. Crude oil, after trading as low as $89.70 for Feb delivery, rallied $1.50 to close at $91.70. The text, and some graphics from Lehman Brothers research report are below the fold: