It is not the average depth of a reef that gets you into trouble, and the same is true with oil supply. Oil has a long and complex supply chain. Inventories of about 290 million barrels of "inventory" or 21 days supply are required to avoid snags that cause supply outages.
Current unrest in the Mideast and higher food prices in Mexico create incredible risks to oil's long and fragile supply chain.
Each Wednesday the TWIP (This Week in Petroleum) is published by the Energy Information Administration. The publication is pretty good at collecting data and spectacular at misstating it. Following is a TWIP graph I modified from a July 2008 TWIP report for a Seeking Alpha article on the risks of gasoline outages across the Southeast. In September 2008, those outages hit. I added the red "Outages" on the bottom for this post. In 2008 the TWIP report stated
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