{"id":24266,"date":"2017-06-27T10:44:16","date_gmt":"2017-06-27T15:44:16","guid":{"rendered":"http:\/\/olduvai.ca\/?p=24266"},"modified":"2017-06-27T10:44:16","modified_gmt":"2017-06-27T15:44:16","slug":"australias-oil-stock-coverage-on-record-low","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=24266","title":{"rendered":"Australia\u2019s oil stock coverage on record low"},"content":{"rendered":"<h3 class=\"entry-title\"><a href=\"http:\/\/crudeoilpeak.info\/australias-oil-stock-coverage-on-record-low\" rel=\"bookmark\">Australia\u2019s oil stock coverage on record low<\/a><\/h3>\n<div class=\"entry-info\"><\/div>\n<div class=\"entry-content clearfix\">\n<p>In prime time evening news of the Australian public broadcaster ABC TV, on 21 June 2017, the business presenter Alan Kohler tried to explain a fall in oil prices by \u201crecord oil inventories around the world\u201d<\/p>\n<p><a href=\"http:\/\/www.abc.net.au\/news\/business\/kohler-report\/\">http:\/\/www.abc.net.au\/news\/business\/kohler-report\/<\/a><\/p>\n<p>Well, let\u2019s go around the world on a map and stay where we are, in Australia. In google, type in the search word \u201cAustralian Petroleum Statistics\u201d and you get this website:<\/p>\n<p><a href=\"http:\/\/www.environment.gov.au\/energy\/petroleum-statistics\">http:\/\/www.environment.gov.au\/energy\/petroleum-statistics<\/a><\/p>\n<p>Click on the latest issue and then on the download PDF file, in this case April 2017<\/p>\n<p><a href=\"http:\/\/www.environment.gov.au\/system\/files\/resources\/8b150335-1e38-48a3-9f66-daed7ddbe4bf\/files\/australian-petroleum-statistics-april2017.pdf\">http:\/\/www.environment.gov.au\/system\/files\/resources\/8b150335-1e38-48a3-9f66-daed7ddbe4bf\/files\/australian-petroleum-statistics-april2017.pdf<\/a><\/p>\n<p>Search for the word \u201cstocks\u201d and that brings you to tables 6 and 7<\/p>\n<p><strong>Table 7 End of month stocks of petroleum, consumption cover<\/strong><\/p>\n<p>In the last column \u201cIEA days of net imports coverage it is 89.5 days for 2010\/11 and 55.2 days for 2015\/17. Go to the bottom of the column and it\u2019s 50.5 days. The year-on-year decline is 3.1%. That doesn\u2019t look like a record now. If anything, it\u2019s a record low. Let\u2019s put that into a graph:<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-8831\" src=\"http:\/\/crudeoilpeak.info\/wp-content\/uploads\/Australia_IEA_days_coverage_2010-Apr2017.jpg\" sizes=\"auto, (max-width: 574px) 100vw, 574px\" srcset=\"http:\/\/crudeoilpeak.info\/wp-content\/uploads\/Australia_IEA_days_coverage_2010-Apr2017.jpg 574w, http:\/\/crudeoilpeak.info\/wp-content\/uploads\/Australia_IEA_days_coverage_2010-Apr2017-300x288.jpg 300w, http:\/\/crudeoilpeak.info\/wp-content\/uploads\/Australia_IEA_days_coverage_2010-Apr2017-36x36.jpg 36w\" alt=\"Australia_IEA_days_coverage_2010-Apr2017\" width=\"574\" height=\"551\" \/>Fig 1: Australia\u2019s net imports coverage in days as defined by IEA<\/p>\n<p>Australia is a member of the IEA (International Energy Agency)<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-8702\" src=\"http:\/\/crudeoilpeak.info\/wp-content\/uploads\/Turnbull_Birol_Feb2017.jpg\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" srcset=\"http:\/\/crudeoilpeak.info\/wp-content\/uploads\/Turnbull_Birol_Feb2017.jpg 840w, http:\/\/crudeoilpeak.info\/wp-content\/uploads\/Turnbull_Birol_Feb2017-300x169.jpg 300w, http:\/\/crudeoilpeak.info\/wp-content\/uploads\/Turnbull_Birol_Feb2017-195x110.jpg 195w\" alt=\"Turnbull_Birol_Feb2017\" width=\"600\" height=\"337\" \/>Fig 2: Australian Prime Minster shaking hands with IEA\u2019s Fatih Birol, Feb 2017<\/p>\n<p>We check the coverage on the IEA website and find 48 days for March<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Australia\u2019s oil stock coverage on record low In prime time evening news of the Australian public broadcaster ABC TV, on 21 June 2017, the business presenter Alan Kohler tried to explain a fall in oil prices by \u201crecord oil inventories around the world\u201d http:\/\/www.abc.net.au\/news\/business\/kohler-report\/ Well, let\u2019s go around the world on a map and stay [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[41,6657,6292,12307,8627],"class_list":["post-24266","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-australia","tag-bp-statistical-review","tag-crude-oil-peak","tag-oil-inventory","tag-oil-inventory-build"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/24266","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=24266"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/24266\/revisions"}],"predecessor-version":[{"id":24267,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/24266\/revisions\/24267"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24266"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24266"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24266"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}