Tag Archives: ethanol

Oil Production and Consumption by Country

oil production and consumption since 1965When it comes to oil production and consumption, countries have a very close relationship of interdependence with each other. Some countries consume more oil than what they produce relying on imports to satisfy their internal demand. Others, consume less than what they produce, being able to export oil to nations that need it.

Oil consumption (yellow) for the United States, for example, was larger than its production (grey) for 2012, 18.55 mb/d (million barrels per day) compared to 8.9 mb/d, importing more than double its production to satisfy the gap in internal demand. Other nations with oil consumption higher that oil production include China, Brazil, Australia, India, UK, and Indonesia.

In contrast, oil consumption for Saudi Arabia for 2012 is estimated at 2.94 mb/d, while its production reached 11.53 md/d, exporting its oil surplus to the rest of the world. Other nations whose oil production exceeds its oil consumption include Canada, Mexico, Venezuela, Norway, Russia, Kuwait, United Arab Emirates, and Qatar.

Source: Winston Smith Labs: Global Oil Production and Consumption since 1965 [Interactive Map/Graph]


U.S. Drought Conditions Still Severe – July 19, 2012

  1. Updated U.S. Drought Map (U.S. Drought Portal)
  2. Ag Secretary Tom Vilsack on the worst drought in decades- Interview by Jeremy Hobson (Marketplace.com)
  3. High Corn Prices Will Raise Food Prices (Live Trading News)
  4. How droughts will reshape the United States – Brad Plumer (Washington Post)
  5. Grain futures hit highs on drought – Dow Jones Newswires (Agriculture.com)
  6. As corn burns, excess ethanol credits help dampen demand – Jonathan Leff and Janet McGurty, Reuters (Cattle Network)


Raw Sugar Prices Increase

Raw sugar prices are on the rise on fears that world demand will exceed global supply. According to Bloomberg, damaged sugar crops due to a drought in Russia and adverse weather conditions in Brazil and China are responsible for a supply shortage. Sugar - Monthly Price - Commodity Prices

Brazil, India, China, Thailand, Pakistan, Mexico, Colombia, Australia and the United States are the world’s largest sugar producers. Brazil dominates sugar world markets thanks to high demand for sugar-based ethanol.

Corn Prices on the Rise

Corn ending stocks for the US for 2010 are projected to be lower than corn demand for the same period, prompting a rise in corn prices. Corn prices increased about 55% for the June-November 2010 period. According to the Corn and Soybean Digest low crop yields explain the supply side. The demand side can be explained mainly by the increase of corn-derived ethanol production.

Maize (corn) - Monthly Price - Commodity Prices