Oil Slick Stuff

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Buster said:
http://www.wnd.com/index.php?fa=PAGE.view&pageId=71387

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Love this Buster, wish I had a bumper sticker!
 
Move over, Texas and Oil, the boom is in Wyoming and it's Natural Gas!!:nuts:

Energy Boom In Wyo. Increases Wages, Inflation

Morning Edition, August 14, 2008 ·
...."About 10 years ago, [the energy industry] was in a slump. And then when Williams Field built their second plant and [Enterprise Products Partners LP] came in, and all this oil and gas cycling came through ... our business went way up," Sawaya says.

Those new energy fields have helped job growth in Wyoming become the strongest in the nation over the past few months.

But that's not necessarily good for all businesses in Wyoming, reporter Elsa Partan tells Steve Inskeep. Job growth in the energy industry is pulling jobs away from the service sector. Hotels around energy fields are having a hard time finding reliable help, and fast food restaurant managers are putting in long hours themselves and closing up shop after dinner.

This job competition has increased wages around the state, which has, in turn, pushed inflation up. Nationwide, inflation is about 5 percent; in Wyoming, it's 8 percent.....
http://www.npr.org/templates/story/story.php?storyId=93556914
 
Oil drops on global economic woes

Crude prices fall below $114 a barrel amid concerns about flagging demand from the world's largest economies.

Last Updated: August 15, 2008: 4:08 AM EDT

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SINGAPORE (AP) -- Oil prices dropped below $114 a barrel Friday in Asia as investors speculated slowing economic growth in the world's largest economies will continue to undermining global crude demand.
U.S. crude for September delivery fell $1.54 to $113.47 a barrel in electronic trading on the New York Mercantile Exchange by midafternoon in Singapore. The contract fell 99 cents overnight to settle at $115.01 a barrel.
"Worries about an economic slowdown in the U.S. and Europe, and even Japan, are weighing on the oil market," said Victor Shum, an energy analyst with consultancy Purvin & Gertz in Singapore.
Europe's biggest economies - Germany, France and Italy - all contracted in the second quarter. Japan said this week its gross domestic product also shrank in the April-June period.
The U.S. Energy Information Administration reported earlier this week a bigger-than-expected drop in gasoline supplies, but also said U.S. demand for refined fuel products continues to fall.[more]
http://money.cnn.com/2008/08/15/markets/oil.ap/index.htm?postversion=2008081504
 
You know what they say, Up the dollar Down the Oil!!

Dollar rally picks up steam

Greenback hits 2-year high against British pound, heads higher vs. euro, yen.

By David Ellis, CNNMoney.com staff writer

August 15, 2008: 7:49 AM EDT

NEW YORK (CNNMoney.com) -- The dollar extended its rally Friday, hitting a nearly 2-year high against the pound and gaining further against the euro, amid troubling signs about the European economy.
The 15-nation euro slid to $1.4721 in New York from $1.4803 late Thursday. It has fallen more than 13 cents from its high of $1.6038 set on July 15.
The pound hit its lowest level in nearly two years against the dollar. The British currency fell to $1.8589 from $1.8685 the previous session.
The dollar also climbed against the Japanese yen, rising to ¥110.60 from ¥109.77 late Thursday.
The dollar has soared against a number of currencies in the past month as the economic outlook has worsened for other parts of the globe, most notably Europe.
Economic figures published by the European Union Thursday revealed that the eurozone economy contracted by 0.2% in the April-June period, raising recession fears.
Earlier this week, the United Kingdom said unemployment is on the rise and inflation will continue to soar to 5%. As a result, the government hinted that interest rates may have to be lowered to prevent the country from entering a recession.
The European Central Bank and Bank of England both decided to hold interest rates steady last week to support economic growth, instead of raising them to combat inflation. And the latest figures suggest that rate cuts could be coming sooner rather than later.
At the same time, the annual inflation rate in the U.S. surged to 5.6% in July - its highest in 17 years. Rising inflation could prompt the Federal Reserve to start raising rates interest rates.
A combination of rate cuts in Europe and a rate hike by the Fed could help strengthen the dollar further. Rate hikes in the U.S. usually boost the dollar since higher rates increase returns on dollar-based assets.
http://money.cnn.com/2008/08/15/markets/dollar/index.htm?postversion=2008081507
 
Gas price decline: Day 29

The price of regular gasoline falls to $3.771 a gallon at the pump, according to a daily survey from AAA.

By Kenneth Musante, CNNMoney.com staff writer
Last Updated: August 15, 2008: 6:58 AM EDT

NEW YORK (CNNMoney.com) -- Gasoline prices fell slightly for the 29th straight day, a daily survey of gas station credit card swipes revealed Friday.
The price of regular unleaded gasoline at the pump fell seven-tenths of a cent to a nationwide average of $3.771 a gallon, according to the Daily Fuel Gauge Report from motorist advocacy group AAA and the Oil Price Information Service.
Prices have fallen since hitting a record high of $4.114 a gallon on July 16, mirroring a decline in crude futures.
However, gas prices remain more than $1 higher than a year ago. High fuel prices helped drive inflation to an annual rate of 5.6% in July - the highest in 17 years.
Ethanol: [more]
http://money.cnn.com/2008/08/15/news/economy/fuel/index.htm?postversion=2008081506
 
Georgia: A Blow to U.S. Energy

August 13, Business Week
The plans of the U.S. and Western oil companies for expanded pipelines in the Caspian region may well be a casualty of Russia's attack

The sudden war in the Caucasus brought Georgia to heel, reasserted Russia's claim as the dominant force in the region, and dealt a blow to U.S. prestige. But in this part of the world, diplomacy and war are about oil and gas as much as they are about hegemony and the tragic loss of human life. Victory in Georgia now gives Russia the edge in the struggle over access to the Caspian's 35 billion barrels of oil and trillions of cubic feet of gas. The probable losers: the U.S. and those Western oil companies that have bet heavily on the Caspian as one of the few regions where they could still operate with relative freedom.....
http://www.businessweek.com/magazine/content/08_34/b4097000700662.htm
 
August 14, 2008
US Leads in Wind Power Production, But Policy Uncertainty Weighs on Industry

by Christine Real de Azua, AWEA
Washington, D.C. United States [RenewableEnergyWorld.com]
U.S. wind farms now generate more electricity than those in any other nation in the world and are on track to expand by over 45% this year, but the looming expiration of the federal production tax credit (PTC) less than five months from now threatens this spectacular progress, AWEA said in its second quarter market report.

While Germany still has more generating capacity installed — about 23,000 megawatts (MW) — the U.S. is producing more electricity from wind because of its much stronger winds, making it the world leader in wind electricity generation......
http://www.renewableenergyworld.com/rea/news/story?id=53325
[Warning, some hyperbole. Good background, however.]
 
I read recently in a NW newspaper that there was so much wind infrastructure added to the west coast part of the grid in the past couple years that the grid couldn't absorb all of the available wind power this year. Ouch! We need infrastructure investment-bad.
 
alevin said:
I read recently in a NW newspaper that there was so much wind infrastructure added to the west coast part of the grid in the past couple years that the grid couldn't absorb all of the available wind power this year. Ouch! We need infrastructure investment-bad.
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Money is going to Iraq infrastructure instead.:mad:
 
I found our money!

Abu Dhabi ups interest-free home loans to $545,000

Wed May 28, 2008 2:07pm IST



ABU DHABI, May 28 (Reuters) - The ruler of Abu Dhabi raiseb by two-thirds the amount that United Arab Emirates nationals in the emirate can borrow free of interest to finance buying or building their homes, to 2 million dirhams ($544,700).
Nationals of the world's fifth-largest oil producer had been allowed to borrow as much as 1.2 million dirhams from the emirate's Private Loans Authority for as much as 30 years, state-owned Emirates News Agency (WAM) said, citing a decree from Sheikh Khalifa bin Zayed al-Nahayan.
Sheikh Khalifa is also the president of the UAE, which has been reaping record oil revenue from soaring prices.
Once the house is built, borrowers can also benefit from a repayment waiver of as much as 25 percent of the loan, WAM said. (Reporting by Stanley Carvalho)
 
Rustynutt said:
I found our money!

Abu Dhabi ups interest-free home loans to $545,000

Wed May 28, 2008 2:07pm IST

ABU DHABI, May 28 (Reuters) - The ruler of Abu Dhabi raiseb by two-thirds the amount that United Arab Emirates nationals in the emirate can borrow free of interest to finance buying or building their homes, to 2 million dirhams ($544,700).
Nationals of the world's fifth-largest oil producer had been allowed to borrow as much as 1.2 million dirhams from the emirate's Private Loans Authority for as much as 30 years, state-owned Emirates News Agency (WAM) said, citing a decree from Sheikh Khalifa bin Zayed al-Nahayan.
Sheikh Khalifa is also the president of the UAE, which has been reaping record oil revenue from soaring prices.
Once the house is built, borrowers can also benefit from a repayment waiver of as much as 25 percent of the loan, WAM said. (Reporting by Stanley Carvalho)
Click to expand...
Now THAT's the kind of redistribution of wealth that should happen everywhere. Seems like it would work a whole lot better than "public housing" and "ghettos." Gets rid of slumlords, gives the people their own homes to manage and care for and pride of ownership.

"Our" taxpayer money......is going to the Iraq fiasco. The "mystery money" buying all that oil yesterday may be UAE, but I find it suspicious that oil stocks slid just before the big buyup of oil...I still think there was a selloff of stock to buy the cheap oil for further speculation. I still expect the price to hit $150 before the end of the year. This pullback is temporary - they've tested the waters to see what the public will tolerate, and once the public becomes complacent about it, the price will go up again. I wish it wasn't and I hope I'm wrong.
 
Storm might hit the Gulf of Mexico!:(
http://www.nhc.noaa.gov/refresh/graphics_at1+shtml/085113.shtml?5day#contents

Tropical Storm Fay drenches Haiti, Dominican Republic

  • Life-threatening flash floods possible, forecasters say
    Floridians advised to keep an eye on storm's progress
  • Fay expected to dump 4 to 8 inches of rain over Hispaniola and eastern Cuba
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MIAMI, Florida (CNN) -- Tropical Storm Fay was dumping heavy rain Saturday morning on Haiti and the Dominican Republic, with some places expected to receive up to 12 inches, the National Hurricane Center said.
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Tropical Storm Fay, over Haiti on Saturday morning, is heading for Cuba at 14 mph.

"These rains could produce life-threatening flash floods and mudslides," forecasters said.
At 8 a.m. ET, Fay was west-northwest of Port au Prince, Haiti, and about 170 miles east-southeast of Guantanamo Bay, Cuba, site of the U.S. detention center for terror suspects.
The storm, the sixth of the 2008 Atlantic season, formed Friday over the Dominican Republic in the Caribbean Sea.
Fay had maximum sustained winds near 45 mph with higher gusts. Tropical storm-force winds extended outward up to 105 miles.
Forecasters said Fay was moving west near 14 mph. The storm was expected to turn toward the west-northwest later Saturday, then head northwest by Sunday night.
"On this track, the center of Fay will move across Haiti this morning, and will be moving near the southern coast of eastern and central Cuba tonight and Sunday," the center said.
A tropical storm warning was in effect for the entire coast of Haiti, the Turks and Caicos Islands, the southeastern Bahamas and the Cuban provinces of Guantanamo, Santiago de Cuba and Granma.
The Dominican Republic has discontinued all tropical storm warnings for its coast, forecasters said.
A tropical storm warning means that tropical storm conditions are expected in the warning area within the next 24 hours.
A tropical storm watch covered the Cuban provinces of Holguin and Las Tunas and the central Bahamas. Tropical storm conditions are also possible in the provinces of central Cuba within the next 36 hours.
The hurricane center's advisory said residents of western Cuba, Jamaica, the Florida Keys and the southern Florida Peninsula should monitor Fay's movements.
Various computer models put the storm's long-range track "up the western portion of the Florida Peninsula in a few days," while others place it farther west over the eastern Gulf of Mexico, the center said.

Fay is expected to dump 4 to 8 inches of rain over Hispaniola, the island shared by Haiti and the Dominican Republic; eastern and central Cuba; Jamaica; and the northern Cayman Islands with isolated amounts of up to 12 inches possible, the center said.
http://www.cnn.com/2008/WORLD/weather/08/16/fay/index.html
 
View attachment 4478View attachment 4479

Western side is weak side of a storm and there's no oil & gas production in the gulf off florida. South of Mobile and west of there is where the platforms are, so they may get some winds and wave action. The path in the pic on the left won't have much effect at all on production in GOM. Expect maybe a couple of days of shut-in for safety but no damage.
 
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