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Oil prices rise above $133 a barrel

The Associated Press
Oil rose above $133 a barrel Monday on persistent worries about global petroleum supplies and the outlook for the U.S. economy and the dollar.
Reports of an attack by militants on an oil pipeline in Nigeria, one of Africa's largest oil exporters, also helped boost prices.
Light, sweet crude for July delivery on the New York Mercantile Exchange was up 98 cents at $133.17 a barrel in electronic trading by afternoon in Europe. The contract rose $1.38 to settle at $132.19 a barrel on Friday.
Nymex floor trading was closed Monday for Memorial Day and it also was a holiday in Britain, resulting in lower trading volume than usual.
In London, July Brent crude futures rose $1.13 to $132.70 a barrel on the ICE Futures exchange.[more]
http://www.usatoday.com/money/industries/energy/2008-05-26-oil-prices_N.htm
 
I averaged 44 mpg in my Prius for my Memorial weekend (Los Angeles – Phoenix) trip. I just set the cruise control for 80mph in AZ and 75mph in CA. As far as cost vice fuel efficiency, I still recommend the Honda civic over the Prius, but I still don’t regret going with the Prius. It’s kinda cool when it kicks into the battery mode (golf cart mode) when you’re going downhill or in slow stop and go traffic.:cool::cool:
 
WHERETO BUY YOUR USA - GAS
WHERE TO BUY YOUR USA-GAS, THIS IS VERY IMPORTANT TO KNOW. READ ON--
Gas rationing in the 80's worked even though we grumbled about it.
It might even be good for us!

The Saudis are boycotting American goods.

We should return the favor.

An interesting thought is to boycott their GAS. Every time you fill up the car, you can avoid putting more money into the coffers of Saudi Arabia Just buy from gas companies that don't import their oil from the Saudis.

Nothing is more frustrating than the feeling that every time I fill-up the tank, I am sending my money to people who are trying to kill me, my family, and my friends.

I thought it might be interesting for you to know which oil companies are the best to buy gas from and which major companies import Middle Eastern oil.




These companies import Middle Eastern oil:





Shell.......................... 205,742,000 barrels
Chevron/Texaco.........144,332,000 barrels
Exxon /Mobil..............130,082,000 barrels
Marathon/Speedway.. 117,740,000 barrels
Amoco..........................62,231,000 barrels

Citgo Gas comes from South America, from a Dictator who hates Americans.

Do the math at $30/barrel, these imports amount to over $18 BILLION! (Oil is now $90-$95 a barrel)

Here are some large companies that
DO NOT import Middle Eastern oil:

Sunoco................0 barrels
Conoco................0 barrels
Sinclair................0 barrels
BP/Phillips..........0 barrels
Hess...................0 barrels
ARC0...................0 barrels






Also: Pilot, Flying J, Love's, RaceTrac, Valero
All of this information is available from the Department of Energy
and each is required to state where they get their oil and how much they are importing.

But to have an impact, we need to reach literally millions of gas buyers. It's really simple to do.

Now, don't wimp out atthis point.... keep reading and I'll explain how simple it is to reach millions of people!!

I'm sending this note to about ten people.

If each of you send it to at least ten more (10 x 10 = 100). .. and

those 100 send it to at least ten more (100 x 10 = 1,000) .. and

so on, by the time the message reaches the sixth generation of people,

we will have reached over ONE MILLION consumers !!!!!!!

If those million get excited and pass this on to ten friends each, then 10 million people will have been contacted!

If it goes one level further, you guessed it ..... ONE HUNDRED MILLION PEOPLE!!!

Again, all you have to do is send this to

10 people. How long would all that take?

If each of us sends this e-mail out to ten more people within one day, all 100 MILLION people could conceivably be contacted within the next eight days
 
This half-truth information has been around the internet for years, and makes its appearance at the holidays. ALL of these companies either import from or are in joint ventures with OPEC countries for exploration and drilling and/or refining. Hess is in joint ventures with Venezuela. NONE of them are entirely free of foreign ties. And lest we forget, the SPR is filled with IMPORTED oil. Selective boycotts serve no purpose. You're on the right track though...we need to STOP using fossil fuels.

Oil companies have to report to MMS and EPA as well as DOE.

Oh, and one of the sources where that information came from is GREEN.

http://www.grassrootspeace.org/consumers_guide_to_gasoline.pdf
 
Record gas prices: 20 straight days

Price for gas tops $4 a gallon in 11 states and Washington, D.C., according to AAA survey.

By Catherine Clifford, CNNMoney.com staff writer
Last Updated: May 27, 2008: 7:13 AM EDT

NEW YORK (CNNMoney.com) -- Retail gas prices hit record highs for the 20th day in a row, motorist group AAA's Web site showed Tuesday.

The nationwide average for a gallon of regular unleaded rose to $3.937, up slightly from $3.936 the previous day.
The climb in gas prices, which have steadily risen over the past three weeks, comes amid the start of the summer driving season, which unofficially kicked off over the Memorial Day weekend.
The AAA survey shows gas prices are up about 9% from a month ago and nearly 23% higher from year-ago levels. The average price for gas has passed the $4 a gallon mark in 11 states, as well as in Washington, D.C.
The most expensive state for buying gas is Alaska, where a gallon of regular unleaded costs an average of $4.201. The second most expensive state is Connecticut, where a gallon of gas costs $4.196, according to AAA.
The least expensive state for purchasing gas is Wyoming, where a gallon costs $3.751 a gallon on average. The second least expensive state for gas is Missouri, where a gallon runs $3.753 a gallon.
In the face of surging prices, consumers are cutting back on the number of miles they clock on the road. Americans drove 11 billion miles less in March this year than the same month a year ago, the Department of Transportation said Monday.
The Federal Highway Administration's "Traffic Volume Trends" report, produced monthly since 1942, showed that estimated vehicle miles traveled on all U.S. public roads in March fell 4.3% - the sharpest drop for any month in the report's history.
http://money.cnn.com/2008/05/27/news/economy/gas_prices/index.htm?postversion=2008052707
 
05/27/2008 - Updated 9:55 AM ET
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U.S. stocks offer opening lift as crude slides
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By Kate Gibson, MarketWatch

NEW YORK (MarketWatch) -- U.S. stocks on Tuesday opened mildly higher after the market's most dismal showing in three months, with traders hesitant ahead of data likely to show consumer confidence declined in May, and as a drop in the price of crude-oil helped offset persistent worries about inflation.
Before the bell, stock futures offered little reaction to the steepest drop in the 20-year history of the Case-Shiller home price index. The data released by Standard & Poor's had homes prices dropping 14.4% in the year through March.
The Dow Jones Industrial Average [$INDU] gained 27.52 points to 12,507.15 in early dealings, with 21 of its 30 components showing early gains.
The S&P 500 [$SPX] climbed 4.22 points to 1,380.15, while the technology-laden Nasdaq Composite [COMP] rose 19.9 points to 2,464.57.
The upbeat start for equities comes in the wake of heavy losses last week, with the Dow shedding nearly 4% of its value in what was the blue-chip benchmark's worst showing since February.
Early commodities trade had crude and gold futures falling, with the front month for crude oil falling $2.44 to $129.75 a barrel, while the gold contract for June delivery moved down $19.40 to $906.40 an ounce.
Shares of Standard Pacific Corp. [SPF] soared nearly 32% on word a private-equity group had agreed to invest more than $530 million in the homebuilder.
J.P. Morgan Chase & Co. [JPM] , part of the Dow industrials, was up 1.2% after the financial institution and First Data Corp. said they had reached terms on ending their joint payments and merchant acquiring venture by the end of the year.
In overseas trading, markets ended mostly higher in Asia, with Toyota Motor Corp. [TM] among those gaining in Tokyo.http://markets.usatoday.com/custom/...C&guid={48067B21-3C92-41DB-977C-EF6C2DC57327}
 
Maybe this will make us feel better. This is a deepwater platform in the Gulf of Mexico (GOM). 150K BOPD is 1/2 the recent Saudi increase of 300K. Will this make the price drop. No.

BP expects to bring the Thunder Horse PDQ online May 30, 2008. Initially, BP plans to start-up production from three wells that are expected to be online 45 days after start-up. Additionally, BP plans to bring a fourth well online within 90 days. These four wells from the Thunder Horse field are expected to produce approximately 150,000 barrels of oil per day (BOPD) and 100 million standard cubic feet of gas per day (MMSCFD) when online. BP plans to bring additional wells from the Thunder Horse North field in MC776 online in the first quarter of 2009.The Thunder Horse North wells will put the facility’s production in excess of 200,000 BOPD. The Thunder Horse Semi-submersible platform and PDQ installed in 6,000 feet of water is the largest floating production platform in the world with designed total production capacity of 250,000 BOPD and 200,000 MMSCFD.
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Every word is true. And the required profit percentages aren't going back into exploration and drilling as specified by the Act, they're going into pockets, stocks and commodities.
"While Americans pay more at the pump, a draft government report shows that oil companies stand to enjoy an ever larger windfall from royalty relief granted by Washington to encourage deep-water drilling in the Gulf of Mexico. The Government Accountability Office report -- reviewed by Politico -- suggests that the foregone royalties could reach $53 billion."
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luv2read said:
This half-truth information has been around the internet for years, and makes its appearance at the holidays. ALL of these companies either import from or are in joint ventures with OPEC countries for exploration and drilling and/or refining. Hess is in joint ventures with Venezuela. NONE of them are entirely free of foreign ties. And lest we forget, the SPR is filled with IMPORTED oil. Selective boycotts serve no purpose. You're on the right track though...we need to STOP using fossil fuels.

Oil companies have to report to MMS and EPA as well as DOE.

Oh, and one of the sources where that information came from is GREEN.

http://www.grassrootspeace.org/consumers_guide_to_gasoline.pdf
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Thank you so much ..This information provided by you to dispute me again, is very interesting and worth earmarking..I haven't the time or need to research each and every claim, I'll just be content that some or most of it is factual and current...thanks again..I feel oh so enlightened now..:)
 
Now this is GOOD news.
Rockefellers Seek Change at Exxon
....One resolution would urge the company to study the impact of global warming on poor countries, another would encourage Exxon to reduce its emissions and a third would encourage it to do more research on renewable energy sources like solar panels and wind turbines.
A fourth resolution, which the Rockefellers are most united in supporting, is considered more likely to pass. It would strip Rex W. Tillerson of his position as chairman of Exxon’s board, forcing the company to separate that job from the chief executive’s job.
A shareholder vote in favor of that idea would be a rebuke of Mr. Tillerson, who is widely perceived as more resistant than other oil chieftains to investing in alternative energy.

The Rockefellers say they are not trying to embarrass Mr. Tillerson, also Exxon’s chief executive, but think it is time for the company to spend more of its funds helping the nation chart a new energy future.

“Exxon Mobil needs to reconnect with the forward-looking and entrepreneurial vision of my great-grandfather,” Neva Rockefeller Goodwin, a Tufts University economist, said in a statement to reporters. “The truth is that Exxon Mobil is profiting in the short term from investments and decisions made many years ago, and by focusing on a narrow path that ignores the rapidly shifting energy landscape around the world,” she added.

http://www.nytimes.com/2008/05/27/business/27exxon.html?_r=1&ref=todayspaper&oref=slogin
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Down is good!!:D

Oil drops below $127 a barrel

Crude prices extend decline as concerns about falling demand mount.

Last Updated: May 28, 2008: 7:02 AM EDT


crude.bc.gif


BANGKOK, Thailand (AP) -- Oil prices dropped below $127 a barrel Wednesday in Asia, extending a decline of more than $3 in the previous session on a growing sense that soaring prices have cut demand for gasoline and other fuel.
The normally busy summer driving season in the U.S. kicked off with the just-ended Memorial Day weekend, and some analysts are predicting that data will show it had a lackluster start.
"It definitely was lower than (previous) Memorial Day weekends," said Tom Kloza, publisher and chief oil analyst at the Oil Price Information Service in Wall, New Jersey.
U.S. Energy Department data covering the weekend won't be released until next week.
The United States is the world's largest energy consumer and fluctuations in demand there can have an outsized impact on international oil prices. Also, since Americans are particularly reliant on their cars due to a lack of mass transport in all but a few cities and they have to drive longer distances to their jobs, their consumption of gasoline is closely watched.
Late afternoon in Singapore, light, sweet crude for July delivery was down $2.15 at $126.70 a barrel in electronic trade on the New York Mercantile Exchange. The contract fell $3.34 to settle at $128.85 a barrel Tuesday, the first day of trade after the Memorial Day holiday.
The front-month contract is now more than $8 off its all-time peak of $135.09 a barrel, hit last Thursday. [more]
http://money.cnn.com/2008/05/28/markets/oil.ap/index.htm?postversion=2008052807
 
They're worried about not being to sell their stock of "summer" gasoline when they've already started refining the "winter" blend. However, IMO it's more profit-taking than anything else, the price will go back up shortly.
 
Interesting article in NY Times about gas prices.

http://www.tsptalk.com/mb/showpost.php?p=166090&postcount=46

and another one:

http://www.marketwatch.com/news/sto...A1D5BA9A}&dist=msr_1&print=true&dist=printTop

FUTURES MOVERS
Crude climbs, struggles to hold ground at $130
Traders weigh supply uncertainty, gasoline consumption concerns
By Myra P. Saefong & Nick Godt, MarketWatch
Last update: 11:02 a.m. EDT May 28, 2008
SAN FRANCISCO (MarketWatch) -- Crude-oil futures traded slightly higher Wednesday but struggled to hold their ground at the $130-a-barrel level as the energy market awaited updates on U.S. petroleum supplies and grew wary of speculation that high gasoline prices at the pump will cut into consumer demand.
Crude for July delivery last traded at $129.25 a barrel on the New York Mercantile Exchange, up 40 cents.
It touched a low of $126.75, the contract's weakest intraday level since May 19, after having skidded by more than 2% in Tuesday's session as the market ignored fresh threats to oil supplies.
"The weakness was due to the near-$4-per-gallon price tag at the pump slowing Memorial Day weekend travel significantly," said Cantor Fitzgerald analyst Marc Pado, citing media reports.
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