Oil Slick Stuff

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At least we can discuss this around here. We could be in the EU, and banning lead in electronics while polluting the air with gasoline. :confused: If there's a real problem for the prarie chickens, there's a work around. If there isn't a problem, we aren't going to deal with theoretical possibilities, someone has to come up with real data here in the U.S. You at least can hug trees around here and not have to support enshrining every one too.
 
BREAKING
NEWS
Oil tumbles $4, after falling below $120 a barrel, as a weak economy stokes demand concerns. Update soon.
http://money.cnn.com/?cnn=yes
I haven't seen this on NYMEX but is probably on the way down and the Markets are spiking!!
 
AP
Oil falls $4 after weak US spending report
Monday August 4, 11:49 am ET
By Stevenson Jacobs, AP Business Writer Oil plunges $4 after weak US spending report, easing concerns about tropical storm
NEW YORK (AP) -- Oil prices are tumbling, hovering around $120 barrel Monday after a weak U.S. consumer spending report triggered another big sell-off.
Light, sweet crude for September delivery is down $4.60 at $120.50 a barrel in late morning trading on the New York Mercantile Exchange. The plunge in oil is lifting stocks out of an early slump. The Dow Jones industrials, down more than 100 points earlier, are down only about 10.
Another dose of disappointing data fed investors' beliefs that a U.S. economic slowdown is forcing Americans to cut back on energy use. The Commerce Department says consumer spending fell in June as shoppers dealt with higher prices for gasoline, food and other items. Also weighing on prices are expectations that Tropical Storm Edouard would not threaten oil installations in the Gulf of Mexico. http://biz.yahoo.com/ap/080804/oil_prices.html
 
GL w/that. I'll grant you it happened week of the 15th. Maybe I'll only lighten up 50%, all depends on what I see in the am.
 
Oil drops $2 on demand fears

Crude prices fall below $120 a barrel ahead of Fed rate decision.

By Kenneth Musante, CNNMoney.com staff writer
Last Updated: August 5, 2008: 7:25 AM EDT

NEW YORK (CNNMoney.com) -- Oil prices pushed below $120 a barrel Tuesday ahead of the Federal Reserve's decision on a key interest rate as investors anticipate further economic trouble for the U.S., which could erode demand for crude products.

Light, sweet crude for September delivery fell $2.22 to $119.19 a barrel in electronic trading.
Oil settled down $3.69 to $121.41 a barrel Monday, and dipped below $120 a barrel during trading for the first time since May 6.[more]
http://money.cnn.com/2008/08/05/markets/oil/index.htm?cnn=yes
 
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Exxon Breaks the Bank with Record $11.68B in Second Quarter


Full Kashagan Accord with Kazakh Govt Reached in June

Libya Seeks Closer Energy Ties with Russia

Nigerian Court Halts Bakassi Handover to Cameroon

Libyan NOC Pres: Oil Prices Will Rebound

Shell Sails into $7.9 Billion Profit in Second Quarter

ENI Underscores Portfolio Developments for Q2 2008

Pacific Energy Snags Alaska Extension

Fairfield Cinches 50% Acquisition of Southern North Sea Block

Altai Resources Lands New O&G Permit, Inks LOI

InterOil Completes Second Well in Peru's Block II

Tethys Runs Seismic on Block 15, Wraps Pilot Hole in JAS-2

TCEI Drilling Ahead at Sugarkane Field's Block B

Elixir Highlights Quarterly Operations in GOM, Africa

MODEC to Ship FPSO to BP's Angola Block 31

Marathon Mulls over Possible Split into 2 Separate Companies

Apache's Second-Quarter Net Income Swells to $1.4B, $4.25 per Share
[United States] -- Apache Corporation reported that high crude oil and natural gas prices fueled record quarterly net income of $1.4 billion or $4.28 per diluted common share, a 128% increase from $632 million or $1.89 per share in the prior-year period.

BW Offshore Inks LOI for FPSO Installation Offshore Brazil
[South America] -- BW Offshore was awarded a LOI with Maersk Contractors for the installation of the submerged turret production and mooring system for the Peregrino FPSO offshore Brazil.

CGGVeritas Posts $874MM Revenue in Second Quarter

China's Commission Gives Go Ahead for COSL's Acquisition of Awilco

U.S. Oil Company and Ecuador Scrap Contract

Marathon's Upstream Business Performs Well in Q2

Nexus Inks LOI to Lease FPSO Offshore Philippines

ENI Profits Up 34% in Second Quarter

Helix Scoops up $90.9MM in Second Quarter

COSCO Inks LOI to Build 2 Sevan 650 Drilling Units

Buffalo Herds into JV with Kadence for $30MM Drilling Program

Pacific Energy Closes on Onshore Asset Sale for $34MM

Origin Corrects Misleading BG Statement

Aker Boasts Steady Performance for Q2

Gippsland's Second Quarter Marked by JV Well Development

Oilex Pushes Forward on Well Development in Second Quarter
 
Good morning, thanks L2R lots of info on their site. There is a link to the site on page 2 of the Oil Slick Stuff Home Page.:D
 
Crude Inventories are due out tomarrow. The only Market Moving data
coming out. Do you think the recent drop in oil prices has anything to do
with the Big Boys knowing something we don't ? AND, could it have anything
to do with tomarrows report?
:confused:
 
squalebear said:
Crude Inventories are due out tomarrow. The only Market Moving data
coming out. Do you think the recent drop in oil prices has anything to do
with the Big Boys knowing something we don't ? AND, could it have anything
to do with tomarrows report?
:confused:
Click to expand...
I think they know that the jig is up, some have been caught manipulating the price of oil and they have backed off.
I believe (but could be Wrong) that inventories will be greater than expected tomorrow. Supposedly, some blame the drop in Energy products price is because consumers have backed off due to high prices, I really don't think that is true.:cool:
 
nnuut said:
I think they know that the jig is up, some have been caught manipulating the price of oil and they have backed off.
I believe (but could be Wrong) that inventories will be greater than expected tomorrow. Supposedly, some blame the drop in Energy products price is because consumers have backed off due to high prices, I really don't think that is true.:cool:
Click to expand...

Thanks Norm, i think the US demand is sinking. But China is the story !
I THINK ?
:confused:
​
 
squalebear said:
Thanks Norm, i think the US demand is sinking. But China is the story !​


I THINK ?
:confused:​
Click to expand...
China has taken 1/2 the vehicles off the streets of Beijing for 2 months to improve air quality during the Olympics. That's 6M bbls of oil saved. The same amount the USA imports from OPEC PER DAY. Temporary price drop due to increased world supplies...one of the bigggest buyers isn't buying.
 
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