Oil Slick Stuff

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Consider this: (Yes, I am about to shift the thread to talk about ethanol again....:-)

Most gas in the US is now blended with 10% ethanol, and corn prices and ethanol prices have tumbled over the past two weeks.


Two weeks ago, CBOT Ethanol was at $2.91 a gallon. This past Friday it closed at $2.41. That's a 17% decline in ten days.

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To all those "Anti-Ethanol" folks out there-have an ear. It looks like we're going to have a bumper crop of corn this year after all. Even with the floods last month, we still are getting nice growth everywhere.


THAT is part of what caused gasoline prices to fade off a little this week.

Ethanol falling prices means lower GASOLINE prices at the pump ahead. More than the slight decline of oil prices.






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The crooks in IL are still charging the same for Eth and gas. Also, Soy Diesel does not work in non emission tractors. We have to Kabota tractors that quit working because of the straight soyD which is the color of antifreeze. It has clogged the fuel filters of our 2 ton truck and tractors. It runs like crap.

Use petroleum, it's cheaper more plentiful, and it works.
 
If we could burn HOT AIR then DC would be a BONANZA!!
Is the BUBBLE bursting?
Oil markets search for signs of a bubble bursting​

Crude oil futures, dollars per barrel, 1 month.
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By Adam Schreck, AP Business Writer
NEW YORK — Crude oil futures closed below $130 a barrel for a second day Friday, marking their biggest weekly drop ever, as traders started to wonder if the oil bubble has burst.
Even news of an output cut in Nigeria failed to halt the week's sharp decline in prices.
Given the market's inability to spark a rally Friday, following the week's big sell-off, is it time to declare the energy bubble over?
Experts aren't ready to go that far yet. Oil has bounced back from big drops more than once in its march to fresh records the past year.
But sentiments are shifting. Experts who just days ago thought the market's meteoric run still had legs are growing cautious. Some say last Friday's high above $147 a barrel may be the last record the market sees — for now.
"If this is not the bubble's implosion, than it's a reasonable facsimile," analyst and trader Stephen Schork said in his daily market commentary. "Perhaps all we have witnessed was a replay of last August's subprime induced sell-off. Time will tell. Nevertheless, for the time being we no longer care to hold a bullish view." [more] http://www.usatoday.com/money/industries/energy/2008-07-18-oil-bubble_N.htm
 
Since TS Dolly will be entering the Gulf Monday morning, it may start to get attention in the news. Gee I wonder how that will factor in if we get some less then expected earnings reports? :cool:
 
New Orleans take heed...Now is two weeks enough time to start making plans?:laugh::rolleyes:..Tip: Super Dome is not a the best place to hide out...
 
Show-me said:
The crooks in IL are still charging the same for Eth and gas.....Use petroleum, it's cheaper more plentiful, and it works.
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Don't know where you are in Illinois. Dixon is still showing E85 available at $2.99 a gallon, and many other locations still looking good in Illinois.

http://e85prices.com/illinois.html


Petroleum only works until we run out. And someday - we will.

So you can either start planning a migration to another fuel source now, or you will be planning it later, but sooner or later, we WILL be off oil. The question is only when, and to what will we move. Ethanol is here now.
 
James48843 said:
Don't know where you are in Illinois. Dixon is still showing E85 available at $2.99 a gallon, and many other locations still looking good in Illinois.

http://e85prices.com/illinois.html


Petroleum only works until we run out. And someday - we will.

So you can either start planning a migration to another fuel source now, or you will be planning it later, but sooner or later, we WILL be off oil. The question is only when, and to what will we move. Ethanol is here now.
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Not in our kid's or grand kid's lifetime..so don't panic..;)
 
I had no IDEA they could do this? Tells me that they think it's going lower. :worried:

Oil futures: Know when to hold 'em

Rumors that Mexico is locking in oil contracts for future delivery at today's prices prompt questions of whether oil's record run has come to a halt.

By Steve Hargreaves, CNNMoney.com staff writer
Last Updated: July 17, 2008: 5:35 PM EDT


oil_refinery2.ce.03.jpg
With prices at $135 a barrel, some producers scramble to lock in long-term contracts.

NEW YORK (CNNMoney.com) -- In the last three days oil prices have fallen by roughly $10 a barrel. Many analysts say slackening demand, or the threat of it, is the main culprit.

But another force could be at work in the background. Last week various analysts said there was talk that Mexico, the world's fifth largest oil producer, was hedging its bets - the country was said to be signing contracts to deliver oil several years into the future at today's prices. Essentially, it was betting oil prices have peaked.
"This is a smart move," said Phil Flynn, senior market analyst at Alaron Trading in Chicago, who also thinks there's a good chance prices have peaked. "If I were an oil producer, I'd want to lock in these prices."
Analysts say if other oil producers follow suit and lock in future contracts, that could be one thing that would cause oil prices to fall, far and fast.
But it's hard to tell if that's happening because information about who is buying what is kept private for competitive reasons.
"I don't know who else is doing it," said Nauman Barakat, an energy trader at Macquarie Futures, and one of the traders who mentioned the Mexico news in a research note. "There's been a lot of talk, but it's kept very confidential."
One analyst, speaking on background only, said he had confirmed Mexico was locking in futures contracts. He said it was being done at the behest of the Mexican government, eager to balance a long-term budget, rather than a bet by state oil company PEMEX, that prices will fall.
But could Mexico's move inspire similar steps from other oil producers, and cause oil prices to fall further?
"Absolutely," said Neal Dingmann, senior energy analyst at Dahlman Rose & Co., a New York-based energy investment boutique. "It could create a top in [oil prices] in the near term."
Dingmann said about 50% of the production from the firms he covers - mostly small firms - has been sold for future delivery at today's prices.
Why isn't everyone doing it? [more]
http://money.cnn.com/2008/07/17/news/international/mexico_hedging/index.htm?postversion=2008071717
 
Just doing my part..

I use nothing but pure synthetic oils and lubes in my cars...If everyone did, there would be less crude used to lube your thing...;)
 
Buster said:
Let's Drill our own....

http://www.nozzlerage.com/
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Hey Buster, I was expecting something totally goofy, but this is not.

One of the links off your nozzlerage site....http://http://www.whitelightning.net/ Says the same thing I have been saying-we need to move beyond corn ethanol to cellulosic and beyond.

Good link, now I know where/how to get a conversion kit when I think we have enough E85 around here to be worth it. thanks! :)
 
Oil bounces back above $130

Crude prices climb as Iran nuclear talks end without agreement.

SINGAPORE (AP) -- Oil prices rose Monday in Asia to over $130 a barrel on concerns that the threat of new sanctions against Iran over its nuclear program may escalate tensions in the oil-rich Gulf region.
Midafternoon in Singapore, light, sweet crude for August delivery was up $1.82 to $130.70 a barrel in electronic trading on the New York Mercantile Exchange. Monday's price increase came after crude fell more than $18 from a trading record of $147.27 hit on July 11.
The contract settled at $128.88 on Friday, down 41 cents.
Talks on Saturday ended with Iran stonewalling Washington and five other world powers on their call to freeze uranium enrichment. In response, the six gave Iran two weeks to respond to their demand, setting the stage for a new round of U.N. sanctions.
The U.S. sent Undersecretary of State William Burns to the talks in hopes the first-time American presence would encourage Tehran into making concessions. But the talks' lack of progress may lead to "further isolation" for Iran, State Department spokesman Sean McCormack said Saturday.
Iran state radio on Sunday quoted President Mahmoud Ahmadinejad as saying the talks were "a step ahead."
"The talks didn't resolve the problem of Iran's nuclear program, and that has been a factor in prices ticking higher today," said David Moore, a commodity strategist with Commonwealth Bank of Australia in Sydney. "Part of the reason prices had fallen recently was on the expectation a deal could be made there."
Prices also rose Monday on concerns that Tropical Storm Dolly may disrupt oil operations in the Gulf of Mexico, Moore said.
The storm drenched Mexico's Yucatan Peninsula and was expected to reach the Gulf of Mexico Monday afternoon packing sustained winds near 50 mph.
"Over the next 12 to 18 months we expect prices to fall on demand side adjustments to the high prices," Moore said. "But there are certainly chances for short-term spikes with issues such as Iran or storms."
In other Nymex trade, heating oil futures rose 2.2 cents to $3.7135 a gallon while gasoline prices rose 2.76 cents to $3.1985 a gallon. Natural gas futures rose 14.5 cents to $10.715 per 1,000 cubic feet.
http://money.cnn.com/2008/07/21/markets/oil.ap/index.htm?postversion=2008072107
 
Hey Mr. Nnuut!
RE: Oil Slick Stuff
Can we list most of the factors that can impact the cost of oil? Pickens ad indicated that we used about 24% foreign oil in the 70's and now we use 70%or there abouts..
Factors
i.e.,
Usage and demand, USA
Gulf storms
Related wars
O-Peck (OPEC)
Other Countries
Etc.

Spaf
 
Silverbird said:
Chavez Goes Weapons Shopping in Russia Amid Arms Race (Update2)

July 21 (Bloomberg) -- Venezuelan President Hugo Chavez heads to Moscow today to shop for air defense systems, submarines and other weaponry as Latin America's arms race quickens amid signs that his regional influence is waning.....

http://www.bloomberg.com/apps/news?pid=20601109&sid=aLF7tPXrBVYE&refer=home
[I'd call it: Chavez Trying to Get Attention and Raise Oil Prices :rolleyes:]
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I think ultra conservitive Pat Robertson was maybe on to something...;)

http://www.shortnews.com/start.cfm?id=66647
 
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