Oil Slick Stuff

Sort by newest Sort by date
OMG LMAO! Didn't the last report say stockpiles were HIGHER than expected! Whatever industry wants the government to say....industry gets!:p

More market manipulation!:sick:
 
Great article. Shows just how bogus these "official" numbers really are.

http://market-ticker.denninger.net/

Please raise your hand if you saw a decrease in gasoline prices during the month of April.

Wait a second - the CPI information release claims that gas prices fell, but the EIA - the government's own energy administration - reported that gas prices rose by 9.5% in April, from $3.29 to $3.60! That's a one month change, not an annualized one!

Which of these two claims on gas prices is closer to what you have personally experienced?....

Oh, if you're wondering how our bank's "reserves" are, have a peek.

Hint: Sit down first, and click for a big version. You won't need your reading glasses, in fact, I might suggest getting drunk to blunt the impact.....

http://market-ticker.denninger.net/2008/05/tall-tale-tuesday.html
Click to expand...
 
Memorial Day driving to drop slightly - AAA

Motorist group sees first decrease in holiday travel since 2002, with Americans at a 'travel tipping point.'

By David Goldman, CNNMoney.com staff writer
Last Updated: May 15, 2008: 10:57 AM EDT

America's Money: Gas crunch hits home
The record-high price of gasoline is putting a strain on American motorists - and spurring some to shift their habits. Here are their stories. View photos

NEW YORK (CNNMoney.com) -- With soaring gas prices amid a slumping economy, Americans are planning on driving less this Memorial Day weekend than they did last year, according to a AAA study released Thursday.
The number of Americans traveling 50 or more miles from home this holiday weekend will decrease by 0.9% to 37.87 million, the motorist group said in a statement. That will mark the first decrease in Memorial Day driving since 2002, in the aftermath of the Sept. 11, 2001 attacks.[more]http://money.cnn.com/2008/05/15/news/economy/aaa_travel/index.htm?cnn=yes
 
Gas prices are not priority for refineries

Stockpiles of oil and gas are less than expected, according to a government report released Wednesday. Refineries are focused on making diesel fuel.

By Catherine Clifford, CNNMoney.com staff writer
Last Updated: May 14, 2008: 1:49 PM EDT


crudeoil.mkw.gif





NEW YORK (CNNMoney.com) -- Oil refineries are ramping up production, but they are focused on making heating oil and diesel fuel, not gasoline - as a result, summer drives may not get any cheaper.
U.S. light crude for June delivery on the New York Mercantile Exchange was down $1.20 at $124.60 a barrel at 1:38 p.m. ET. Oil had traded down $1.34 just prior to the 10:30 a.m. release of a weekly report on supply and demand.
In its weekly inventory report, the Energy Information Administration said crude supplies increased by 200,000 barrels in the week ended May 9. Analysts were looking for a rise of 2.5 million barrels of crude oil, according to according to a survey from Platts, an energy research firm.
While crude oil stockpiles increased only very modestly, Stephen Schork, publisher of the industry newsletter The Schork Report, says that it is important to remember that crude supplies were up a lot last week.
At 325.8 million barrels, U.S. crude oil inventories are in the middle of the average range for this time of year.
Crude rose as high as a record $126.98 a barrel in midday electronic trading on Tuesday, before retreating. In the past 12 months, crude oil has doubled in price.
Refiners make more distillates than gas [more]
http://money.cnn.com/2008/05/14/markets/oil_eia/index.htm
 
SEE what I mean!!:suspicious:

Stocks rise as oil slides

Wall Street pushes higher as oil prices reverse course, tech sectors advances.

By Alexandra Twin, CNNMoney.com senior writer
Last Updated: May 15, 2008: 1:51 PM EDT

v2-cnnmoney-chart1.img



v2-cnnmoney-chart1.img


NEW YORK (CNNMoney.com) -- Stocks rose Thursday afternoon, following a choppy morning, as investors welcomed an about-face in the price of oil and some strength in technology.
The Dow Jones industrial average (INDU) gained 0.2% with under 2-1/2 hours left in the session. The broader Standard & Poor's 500 (SPX) index added 0.4%. The Nasdaq composite (COMP) edged up 0.8%.[more]
http://money.cnn.com/2008/05/15/markets/markets_newyork/index.htm?postversion=2008051513

Oil prices reverse course

Crude prices sink below $122 as natural gas inventories surge and investors take the profits.

Last Updated: May 15, 2008: 1:11 PM EDT

NEW YORK (AP) -- Oil futures gave up earlier gains and fell Thursday, a move analysts attributed to the expiration of options and to a sharp drop in natural gas prices. Retail gas prices, meanwhile, advanced past $3.77 a gallon.
Options let investors bet whether oil prices will rise or fall in the future. Oil prices can fluctuate wildly on days when options expire, analysts said.
Meanwhile, natural gas prices tumbled after the Energy Department said natural gas inventories rose by 93 billion cubic feet last week, more than analysts had expected.[more]
http://money.cnn.com/2008/05/15/markets/oil.ap/index.htm?postversion=2008051513
 
Wonder if sell programs were kicking in so oil saved the day lol!:laugh:

OR did the price drop...which made BUY programs kick in? Wonder how much of this is buying oil stocks/futures?

Or...will they try to blame the drop in the price on Congress voting to stop filling SPR?

Possibilities, possibilities! Tune in tomorrow....
 
Always so much to take into consideration. Then there are hidden agendas everywhere. Like they say "nothing ever happens in the Markets by chance,all is planned". Don't know who said that but there is always a plan. CNBC thinks the spike was because of the drop in oil, I'm watching as I speak.
Best of luck tomorrow!!View attachment 3879
 
Last edited:
Here is the culprit, not likely to happen again tomorrow! Natural Gas!:suspicious:

Oil prices waver, settle lower

Crude prices end tumultuous day slightly lower as natural gas inventories surge and investors take profits.

Last Updated: May 15, 2008: 3:33 PM EDT

(AP) -- Oil futures ended a whipsaw session slightly lower Thursday as the expiration of options played havoc with prices, driving crude near record high levels at times and down by more than $3 a barrel at others. Retail gas prices, meanwhile, advanced past $3.77 a gallon.

Options let investors bet oil prices will rise or fall in the future. Oil prices can fluctuate widely on days when options expire, analysts said. The effect may be exacerbated at the moment, when prices at historic levels have drawn more investors to speculate in options, said James Cordier, president of Tampa, Fla.-based trading firms Liberty Trading Group and OptionSellers.com.
"It's options expiration madness is what it is," said Phil Flynn, an analyst at Alaron Trading Corp. in Chicago.
Contributing to the volatility, the June crude oil contract expires next week. Oil prices sometimes trade erratically as investors square positions ahead of a contract expiration.
Meanwhile, natural gas prices tumbled Thursday after the Energy Department said natural gas inventories rose by 93 billion cubic feet last week, more than analysts had expected. That helped pull oil prices down from earlier highs, analysts said. http://money.cnn.com/2008/05/15/markets/oil.ap/index.htm?postversion=2008051515
 
Meanwhile, natural gas prices tumbled Thursday after the Energy Department said natural gas inventories rose by 93 billion cubic feet last week, more than analysts had expected. That helped pull oil prices down from earlier highs, analysts said. [URL="http://money.cnn.com/2008/05/15/mark...ion=2008051515"]http://money.cnn.com/2008/05/15/mark...ion=2008051515[/URL]
Click to expand...
Natural gas inventories was yesterday's news....and they're trying to tie today's drop in the price of oil to that?

LMAO! Natural gas has nothing to do with the price of oil! Who writes this stuff???:nuts::blink:

Tune in next week when they say natural gas inventories dropped last week (this week)....
 
Multiple gas stations in my state topped $4 a gallon today. Here is the chart of pump prices for the last 90 days.

Tell me that there is no inflation out there-- You can't have a 30% increase in the price of gasoline in just 90 days and NOT have it have a major impact on inflation everywhere!​
 
luv2read said:
Natural gas inventories was yesterday's news....and they're trying to tie today's drop in the price of oil to that?

LMAO! Natural gas has nothing to do with the price of oil! Who writes this stuff???:nuts::blink:

Tune in next week when they say natural gas inventories dropped last week (this week)....
Click to expand...
Yer right and it's a mystery to me!! Guess energy is energy, fuel oil, natural gas, (heating, electricity) gas, diesel, (transportation, shipping)what about coal?:cool:View attachment 3882
 
James48843 said:
Multiple gas stations in my state topped $4 a gallon today. Here is the chart of pump prices for the last 90 days.


Tell me that there is no inflation out there-- You can't have a 30% increase in the price of gasoline in just 90 days and NOT have it have a major impact on inflation everywhere!​
Click to expand...
That is a NASTY chart, when will they have enough of our money? CROOKS!!:nuts:View attachment 3883
 
James48843 said:
Multiple gas stations in my state topped $4 a gallon today. Here is the chart of pump prices for the last 90 days.


Tell me that there is no inflation out there-- You can't have a 30% increase in the price of gasoline in just 90 days and NOT have it have a major impact on inflation everywhere!​
Click to expand...
but..but...the government reports say the price didn't increase.....:laugh:
 
Let's see:

GSA POV rate back in January 1, 2003- $.36 cents a mile.
Price of a gallon of gasoline on that date, $ !.39 a gallon, or a little less than 4 GSA miles to pay for a gallon of gas.


GSA POV rate: February 1, 2007- 48..5 cents a mile.
Price of gasoline on that date: $ 2.26 a gallon or jusrt about 5 GSA miles per gallon of gas reimbursement. The rest of the costs are attributable to oil, wear and tear, insurance, etc.


GSA POV rate: March 19, 2008- 50.5 cents a mile.
Price of gasoline on that date: $ 3.24 a gallon, or about 6 1/2 miles to reach the price of one gallon of gasoline.


Today?

GSA rate is unchanged. Price of gasoline nationally is now $3.79 a gallon, or about 7.5 GSA miles per one gallon of gas cost.

That means in real terms, we get reimbursed only about half- in real terms, as what we did on January 1, 2003, just five years ago.

People ought to be calling their Unions, calling the GSA, writing to govexec.com, and their congressmen, asking to raise the reimbursement rate for POV mileage rates to reflect the increased cost in fuel.
 
You must log in or register to reply here.
Back
Top