Patent ID: 8717434

Claim:
A method for collecting and analyzing operational information from a network of components associated with a liquid energy commodity, comprising the steps of: measuring an amount of the liquid energy commodity in storage at one or more storage facilities in the network, and storing that measurement data in a first database at a central data processing facility; determining a flow rate of the liquid energy commodity in one or more selected pipelines in the network, and storing that flow rate data in a second database at the central data processing facility, wherein, as part of the step of determining the flow rate of the liquid energy commodity in a selected pipeline in the network, a power monitoring device is positioned to monitor power lines supplying electric power to a particular pumping station on the selected pipeline, said power monitoring device including sensing elements responsive to electric potential and magnetic flux densities associated with the power lines, therefore allowing for a measurement of electric potential and magnetic flux densities associated with the power lines, and thus a determination of power consumed by the particular pumping station; ascertaining an operational status of one or more processing facilities in the network, and storing that operational status information in a third database at the central data processing facility; analyzing the measurement data, the flow rate data, and the operational status information to determine a balance of the liquid energy commodity in the network or a selected portion thereof at a given time; and communicating information about the balance of the liquid energy commodity to a third-party market participant.