Oil Slick Stuff

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nnuut said:
Panel: Increase gas tax to fix roadways, WHAT!:mad:

WASHINGTON (AP) -- A special commission is urging the government to raise federal gasoline taxes by as much as 40 cents per gallon over five years as part of a sweeping overhaul designed to ease traffic congestion and repair the nation's decaying bridges and roads.
http://www.cnn.com/2008/POLITICS/01/15/transportation.safety.ap/index.html
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Gotta pay to keep the roads up somehow. But if they are also planning to change the formulation of gas to include ethanols and that also causes an increase in gas prices, this is going to be a big kick in the consumer back end. If they want to increase fuel efficiency ratings in cars too, they will get less $. Have to be careful of which initiatives are taken on, if you look at them one at a time, ok, but all at once is OUCH!
 
Silverbird said:
Gotta pay to keep the roads up somehow. But if they are also planning to change the formulation of gas to include ethanols and that also causes an increase in gas prices, this is going to be a big kick in the consumer back end. If they want to increase fuel efficiency ratings in cars too, they will get less $. Have to be careful of which initiatives are taken on, if you look at them one at a time, ok, but all at once is OUCH!
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Every state should start a new lottery just for infrastructure, like Georgia does for the Hope Education Grants, Yeah, that's it!!:D
Make ethonol out of that Switch Grass stuff, NOT CORN!!! DAMNIT!:mad:
 
nnuut said:
Make ethonol out of that Switch Grass stuff, NOT CORN!!! DAMNIT!:mad:
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Workin' on it, they are workin' on it, along with how to transport methane with less of a chance of a big *BOOM*. But unfortunately it isn't there yet on either. At least we aren't using sugar cane, nothing against Brazil except not only do you need the right weather patterns, but to grow it encourages slash and burn.:nuts: Much as we would love industry to come up with something quick, we still are subject to the rules of physics and knowledge.
 
Oil below $90 on surprise supply increase

Crude stockpiles grew by 4.3 million barrels last week after shrinking for eight straight weeks.

January 16 2008: 12:20 PM EST

NEW YORK (CNNMoney.com) -- Oil prices fell sharply Wednesday after the government reported a surprise increase in crude supplies.
U.S. light crude for February delivery fell $2.20 to $89.62 a barrel on the New York Mercantile Exchange. Oil had traded down $1.21 prior to the report's release.
In its weekly inventory report, the U.S. Energy Information Administration said crude stocks grew by 4.3 million barrels last week, after posting declines for eight weeks in a row. Analysts were looking for a drop of 300,000 barrels according to a Dow Jones poll.
http://money.cnn.com/2008/01/16/markets/oil_eia/index.htm?postversion=2008011612
 
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Oil ends over $90 a barrel after falling

Crude stockpiles grew by 4.3 million barrels last week after shrinking for eight straight weeks, driving prices lower.

By Ben Rooney, CNNMoney.com staff writer
January 16 2008: 5:03 PM EST

NEW YORK (CNNMoney.com) -- Oil prices fell sharply Wednesday after the government reported a surprise increase in crude supplies.
U.S. light crude for February delivery fell $1.06 to $90.84 a barrel on the New York Mercantile Exchange after trading down $1.21 prior to the report's release.
In its weekly inventory report, the U.S. Energy Information Administration said crude stocks grew by 4.3 million barrels last week, after posting declines for eight weeks in a row. Analysts were looking for a drop of 300,000 barrels according to a Dow Jones poll.
http://money.cnn.com/2008/01/16/markets/oil_eia/index.htm?postversion=2008011617
 
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Can we use it ALL up:confused:
The end of oil is just a game

New combat videogame depicts a world at war over rapidly dwindling crude supplies. But what's the message players walk away with?

By Steve Hargreaves, CNNMoney.com staff writer
January 18 2008: 5:17 AM EST

NEW YORK (CNNMoney.com) -- On a futuristic battlefield littered with broken oil wells, burnt-out electric cars and dilapidated wind turbines, you are leading crack military unit on a mission to secure the world's last remaining oil supplies.
Your enemies are the Russians and Chinese, who are of course after the same prize.
Suddenly machine guns rattle, men are hit, the helicopter goes down, and you're in the middle of an intense firefight in Central Asia.
Over the last two decades prior to 2030 oil production has peaked and is declining rapidly, renewables never panned out, plagues hit, and starvation ensued. In other words, things have been very bad, at least according to Kaos Studios, the maker of this video game you're playing.
http://money.cnn.com/2008/01/16/news/economy/peak_oil_game/index.htm?postversion=2008011805
 
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Whale Oil Supplies to run out - Earth to go dark. :cheesy: If we haven't figured out an alternative to petroleum by the time of a supply crisis, we deserve what we get.
 
Oil falls as stocks flounder

Energy investors' fears of a severe economic slowdown were reignited, despite President Bush's plan to offer $145 billion in tax relief.

January 18 2008: 12:45 PM EST

President Bush calls on OPEC to increase oil supply, saying high prices hurt the world economy.

NEW YORK (AP) -- Oil futures fell Friday as a rebound on Wall Street sputtered, reigniting energy investors' fears of a severe economic slowdown.
Stocks reversed earlier gains and fell as investors expressed disappointment in President Bush's economic stimulus plan, which includes $145 billion worth of proposed tax relief.
Light, sweet crude for February delivery fell 18 cents to $89.95 a barrel on the New York Mercantile Exchange. Earlier Friday, prices rose above $91.
Energy investors sometimes view the stock market as a proxy for economic growth, so they were heartened earlier Friday when the Dow Jones industrials rose sharply, rebounding from Thursday's 306-point thrashing.
http://money.cnn.com/2008/01/18/markets/oil.ap/index.htm?postversion=2008011812
 
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OPEC dismisses U.S. calls for more oil
OPEC dismissed further calls to boost oil output from top consumer the United States, saying the global market is well supplied and the producer group has little control over oil prices near $90 a barrel. Energy Secretary Samuel Bodman on Saturday urged top exporter Saudi Arabia and OPEC to raise supply on a visit to the kingdom. His appeal came just days after President Bush asked the group for more oil on a separate visit to Riyadh, and less than two weeks before OPEC's next meeting on Feb. 1.
http://www.usatoday.com/money/industries/energy/2008-01-20-opec_N.htm
 
Fivetears said:
OPEC dismisses U.S. calls for more oil
OPEC dismissed further calls to boost oil output from top consumer the United States, saying the global market is well supplied and the producer group has little control over oil prices near $90 a barrel. Energy Secretary Samuel Bodman on Saturday urged top exporter Saudi Arabia and OPEC to raise supply on a visit to the kingdom. His appeal came just days after President Bush asked the group for more oil on a separate visit to Riyadh, and less than two weeks before OPEC's next meeting on Feb. 1.
http://www.usatoday.com/money/industries/energy/2008-01-20-opec_N.htm
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Well, we let them get us by the "short and curlies" and this is what we get!:sick:
 
And STAY DOWN!!:nuts:

Oil falls below $88 a barrel

Crude prices keep up slide on worries that weakening U.S. economy will lower demand.

January 22 2008: 6:26 AM EST

SINGAPORE (AP) -- Oil prices fell Tuesday amid global market turmoil and mounting concerns that the U.S. economy may be heading into a recession that would likely dampen crude demand.
Prices were also affected by the continued tumble of global stock markets Tuesday, the second day of sharp global declines.
http://money.cnn.com/2008/01/22/markets/oil.ap/index.htm?postversion=2008012206
 
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Ain't that a kick in the tank?:mad:

Oil's sharp drop blunted by Fed rate cut

Crude prices keep up slide on worries of weakening demand, but Fed announcement helps recover early losses.

January 22 2008: 1:04 PM EST

NEW YORK (AP) -- Oil futures dropped sharply Tuesday on mounting concerns that the U.S. economy may be heading toward a recession that would dampen demand for crude.
While the Federal Reserve's interest rate cut helped crude futures recover some of their earlier losses, many investors doubt the move will stave off a serious slowdown.
http://money.cnn.com/2008/01/22/markets/oil.ap/index.htm?postversion=2008012213
 
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Oil falls on shaky economic outlook

Crude prices drop as investors fear that the Federal Reserve's emergency rate cut won't be enough to stave off an economic slowdown.

January 23 2008: 5:16 PM EST

NEW YORK (AP) -- Crude oil futures skidded lower Wednesday, falling more than $2 a barrel to their lowest closing price in three months on concerns that oil supplies are growing even as the economy and demand for oil are cooling.
Global stock markets have fallen sharply in recent days on fears that the U.S. economy is close to entering a recession, if it hasn't already. Energy investors fear a slowdown would curtail demand for oil and petroleum products such as gasoline and heating oil. [more]
http://money.cnn.com/2008/01/23/markets/bc.oilprices.ap/index.htm?postversion=2008012317
 
Oil rebounds after slipping overnight

Crude prices approach $88 a barrel as global markets rally; inventory data in focus.

January 24 2008: 8:03 AM EST

Oil prices rose Thursday after slipping more than $2 a barrel overnight amid concerns that crude inventories in the United States are growing even as the economy and fuel demand are cooling.
Light, sweet crude for March delivery rose $1.04 to $88.03 a barrel in electronic trading on the New York Mercantile Exchange by midday in Europe.
The contract fell $2.22 to settle at $86.99 a barrel on Wednesday.
In London, March Brent crude futures rose $1.05 to $87.67 a barrel on the ICE Futures exchange.
Traders were awaiting the release later Thursday of this week's U.S. inventory report by the Energy Department's Energy Information Administration. [more]
http://money.cnn.com/2008/01/24/markets/bc.apfn.oilprices.ap/index.htm?postversion=2008012408
 
:D
SAN FRANCISCO (MarketWatch) - U.S. crude inventories rose by 2.3 million barrels to 289.4 million barrels in the week ending Jan. 18, U.S. Energy Information Administration reported on Thursday. Analysts surveyed by Dow Jones Newswires were expecting a rise of 1.8 million barrels. After the data, crude-oil futures for March delivery gained 54 cents, or 0.6%, to $87.53 a barrel on the New York Mercantile Exchange. Crude was up more than 1% before the report. Gasoline supplies rose by 5 million barrels in the latest week, while distillate stocks fell by 1.3 million barrels, EIA reported. On Nymex, February reformulated gasoline fell slightly to $2.25 a gallon and February heating oil rose 2.69 cents at $2.45 a gallon.
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http://www.marketwatch.com/news/sto...79-6FB0-421F-9B3B-9332715E1B8C}&dist=morenews
 
:mad:

Oil up near $90 a barrel

Futures move higher, extending overnight rally on Washington's economic stimulus plan.

January 25 2008: 7:30 AM EST

Markets move on word of an economic stimulus plan accord on Capitol Hill.

NEW YORK (AP) -- Oil futures rose Friday in Asia to extend an overnight gain of more than $2 a barrel after U.S. leaders agreed to a stimulus plan in an effort to avert a major slowdown in the world's largest economy.
Light, sweet crude for March delivery rose 66 cents to $90.07 a barrel in electronic trading on the New York Mercantile Exchange by midday in http://money.cnn.com/2008/01/25/markets/oil_prices.ap/index.htm?postversion=2008012507
 
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DIP!:)

Oil prices dip on recession fears

Traders sell crude futures as global stock markets decline; light, sweet crude for March delivery falls $1.32.

January 28 2008: 8:02 AM EST


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Oil in the short-term will react to movements in global equity markets, analyst says.

SINGAPORE (AP) -- Oil prices dropped Monday as new declines in stock markets in Asia and Europe prompted traders to sell crude futures contracts amid worries about the potential fallout from a weakening U.S. economy.
"The movements in the equity markets reflect the sentiment on the U.S. economy and how other economies in the world may be affected ... if it slides into a deep recession," said Victor Shum, an energy analyst with Purvin & Gertz in Singapore. "In the near term, oil prices will continue to react to the gyrations of the global stock markets."
http://money.cnn.com/2008/01/28/markets/oil_decline.ap/index.htm?postversion=2008012808
 
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Price fixing, I'd say!:mad:

Oil prices: OPEC's high wire act

The cartel struggles to keep oil prices high, but not high enough to kill the economy. Long term, are they investing enough to meet worldwide demand?

By Steve Hargreaves, CNNMoney.com staff writer
January 25 2008: 3:32 PM EST


middle_east_oil2.03.jpg
OPEC struggles to keep prices high, but not kill the economy.

NEW YORK (CNNMoney.com) -- High oil prices are a drag on the economy, but OPEC isn't likely to raise production at its special meeting next week. But experts say the cartel is on track to meet worldwide demand - and keep prices from rising further - in the long run.
In the short run, OPEC's special meeting set for next Friday will be under the microscope to see how the cartel will address high oil prices amid a stalling economy in the United States.
The bad boys of oil
http://money.cnn.com/2008/01/25/news/international/opec/index.htm?postversion=2008012515
 
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