Hoarding is exactly what the government is doing right now by filling the SPR, and frankly it's the best thing that could happen. It drives prices up. High prices encourage demand destruction. They also finance new well development. The hoarded oil gives us a buffer to fall back on once shortages become more prevalent. High prices are what we need in order to adapt to what's coming, and the sooner they happen, the better.
They show numbers witch are a combination of both Oil and NGL. What would be more interesting would be to see the crude oil production seperately. And indeed it would be interesting to see what oil qualities were produced. As I understand a lot of the extra production theese days consist of heavy and sour oil, wich are not easilly converted to gasoline etc.
Hidden within theese general combined numbers there could already be a decline in the high-quality oil.
Another problem is that there is not a lot of data available from many years back. And that of course is a huge problem when you want to understand what sort of trends are unfolding.
For peakoil.com to achieve such a page with improved and detailed statistics someone with access to such data must do a big job. I hope someone out there feal a calling to enlighten us.
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