the problem, which I think is as important as anything else, of an increase in the demand for your refined products. When you increase the amount of automobiles 10 percent every year for 3 or 4 years you have a lot more people driving and there are more people coming down to the pump all the time to get gasoline and the gasoline isn't available in the amounts needed. Chairman PROXMIRE. You see, the statements by Mr. Rand and the statement of Science magazine referred to the fact that the amount available is more this year than last year. Certainly there is the implication that even limited conservation measures we have taken so far have resulted in some diminution in demand. At least it is not greater than it was last year. And the 1,000 days of shortfall, enough to take care of 1,000 days of shortfall, that is 3 years, would seem to be reassuring. Mr. RIGG. I don't know whether the thousand days of shortfall is an accurate statement or not. I thought the latest figures I had seen showed only about a 30-day supply. Chairman PROXMIRE. Then would you say that Mr. Rand is wrong? Mr. RIGG. No; I would have to check it out. I haven't had opportunity this morning to compare it. Chairman PROXMIRE. Will you check on it and let us know? [The following information was subsequently supplied for the record:] How many days of gasoline supply does the United States have in gasoline stocks based on API Jan. 18 weekly report and Bureau of Mines October 1973 Report? 1 Excludes small amounts of motor gasoline produced at natural gas process plants. 2 A plus means a stock withdrawal and a minus means an addition to stocks. 3 API weekly data excludes exports. 32 Primary stocks (or inventories) are those located at refineries, bulk terminals, and in pipelines. An estimated 35 to 40 percent of these inventories are unavailable for shipment as they are required to assure continuous operations. WEEKLY STATISTICAL BULLETIN Week Ended January 18, 1974 NOTICE Input to refineries on a total U.S. basis during the week ended Jan. 18, 1974 decreased 298,000 bbl. per day from the previous week, with the result that utilization of operable refining capacity dropped to 84.4 per cent. The decline in input was principally due to lack of crude oil and scheduled and unscheduled shut downs for maintenance and repairs. The largest decreases (in barrels per day) occurred in the following districts: West Coast (District 5)-110,000; Texas Gulf Coast-62,000; Indiana, Illinois, Kentucky-41,000; and the East Coast-26,000. Production of distillate fuel oil in the U.S. increased 47,000 bbl. per day during the same week at the expense of other products. While crude oil imports in Districts 1-4 increased in the week by 68,000 bbl. per day to 1,895,000, imports of crude oil into the West Coast (District 5) dropped by 244,000 bbl. per day to a level of 276,000, with the result that total crude oil imports into the U.S. of 2,171,000 bbl. per day were down by 176,000 bbl. per day from the previous week. This is the lowest U.S. level since the week ended February 9, 1973–2,143,000 bbl. per day. Total stocks of crude oil in the U.S. declined by 1,232,000 bbl. per day during the week to a level of 230,818,000 bbl. A drop in crude oil of domestic origin of 684,000 bbl. per day combined with crude oil stocks of foreign origin declining 548,000 bbl. per day made up the total decrease in stocks. The processing of foreign crude oil at a rate of 2,586,000 bbl. per day for the week, the lowest level since the week ended February 23, 1973-2,577,000 bbl. per day. East coast. WEEKLY STATISTICAL BULLETIN American Petroleum Institute, Division of Statistics and Economics INPUT TO CRUDE OIL DISTILLATION UNITS AND PRODUCTION OF THE FIVE MAJOR PRODUCTS [Daily average in thousands of 42-gal barrels] Crude oil distillation units Refinery production 1 Jan. 11, 1974. Jan. 19, 1973. 1 See p. 323 for production of aviation gasoline and kerosine. 3 East coast from 1,277 to 1,270; District 1 from 1,457 to 1,450; Texas gulf from 2,652 to 2,618; 4 Louisiana gulf from 837 to 854; District 3 from 2,360 to 2,377; Districts 1-4 from 5,127 to 5,144; 5 Louisiana gulf from 422 to 405; District 3 from 1,247 to 1,230; Districts 1-4 from 2,650 to 2,633; Includes 2,586 barrels of imported crude oil as follows: District 1-1,084'; District 2-601; 7 Based on new definition. 8 Not available. Based on old definition. 3 Louisiana gulf from 13,106 to 13,222; District 3 from 55,571 to 55,687; District 5 from 23,284 to 23,691; Districts 1-4 from 182,126 to 182,242; total United States from 205,410 to 205,933. 4 Louisiana gulf from 8,138 to 8,023; District 3 from 35,777 to 35,662; District 5 from 14,078 to 14,110; Districts 1-4 from 180,120 to 180,005; total United States from 194,198 to 194,115. 1 Described by the Bureau of Mines as follows: New England-Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut; Central Atlantic-New York, New Jersey, Pennsylvania, Delaware, Maryland, and D.C.; Lower Atlantic-Virginia, West Virginia, North Carolina, South Carolina, Georgia, and Florida. 1 Described by the Bureau of Mines as follows: New England-Maine, New Hamsphire, Vermont, Massachusetts, Rhode Island, and Connecticut; Central Atlantic-New York, New Jersey, Pensylvania, Delaware, Maryland, and the District of Columbia; Lower Atlantic-Virginia, West Virginia, North Carolina, South Carolina, Georgia, and Florida. 2 Includes grade No. 4 fuel oil. |