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Oil Slick Stuff
- Thread starter nnuut
- Start date
fabijo
Well-known member
It has to do with Kissinger making the deals with the Arabs that they'll only accept U.S. dollars for their oil and we won't flood the world with oil. It gives our dollar strength while we can keep our interest rates pretty low. The world's nations need to keep reserves of dollars. The countries who did not buy into the plan - Iraq and Iran. In June, Iran announced that it will absolutely refuse U.S. dollars for their oil.
The Energy non-Crisis - Lindsey Williams
http://video.google.com/videoplay?docid=3340274697167011147
I don't know how they're plan is working with the dollar's slide in value for the past few years.
James48843
Well-known member
Fox news says- America is unprepared....
America Is Totally Unprepared for a Protracted Oil Interruption
Friday, September 26, 2008
By Edwin Black
It will come as a shock to most Americans and the media, but as the election reaches a crescendo on the issue of preparedness and energy, neither Barack Obama nor John McCain —nor anyone in local, state or federal government — has developed a contingency plan in the event of a protracted oil cut-off. It is not even being discussed.
Full story-
http://www.foxnews.com/story/0,2933,428846,00.html
America Is Totally Unprepared for a Protracted Oil Interruption
Friday, September 26, 2008
By Edwin Black
It will come as a shock to most Americans and the media, but as the election reaches a crescendo on the issue of preparedness and energy, neither Barack Obama nor John McCain —nor anyone in local, state or federal government — has developed a contingency plan in the event of a protracted oil cut-off. It is not even being discussed.
Full story-
http://www.foxnews.com/story/0,2933,428846,00.html
Show-me
Well-known member
What happens if Hugo Chavez really does cut us off. Japan bombed Peral Harbor when we put the squeeze on them or at least they felt like we were squeezing them. Will we bomb Caracas Venezuela?
We are in a weak position with our dependence on oil. I say double the strategic reserve.
We are in a weak position with our dependence on oil. I say double the strategic reserve.
nnuut
Moderator | TSP Legend
Just like everything else we did NOTHING to get rid of Little Hitler #2, now he will hit us when we are down. What can we do, nothing!! NO NO CITGO!!
XL-entLady
Well-known member
Bomb Venezuela? I know you had your tongue firmly in cheek, but please, God in Heaven, no! Our government leaders are showing themselves to be almost criminally short-sighted. But we're already at war in two separate places in the globe. If you add a third, what do you call that. Does that meet the definition of a world war?
Okay, deep breath .....
Lady
hessian
Member
fabijo,
Thank you, Thank you, Thank you, for the video above!!!!
Its scary as he**, also lengthy - but maybe the best review I've ever heard!
It brought so many thoughts together for me, current events, recent, further past and longer past!! Wow!
So much all of a sudden begins to make sense, and still haven't fully realized/been able to fully absorb/comprehend. :worried:
One question:
Where in the world [literally], to go?
nnuut
Moderator | TSP Legend
I think we need to CRASH and CLEANSE we may have no choice? Lets make sure that we do it right next time. Many countries just love what's happening over here and we should NOT forget who they are and surely remember our friends. The American Way. PLEASE.
alevin
Well-known member
http://http://newenergynews.blogspot.com/ Just how much leadership do you think one of our VP/(P?) options would provide, in the event of a cutoff, based on her record-? -see article posted below. Just askin' people to think a little bit more while they still have the chance. This is as political as I get, guys. I remember gas prices in 79, the year I got out of college. I had what I considered a good-paying job that summer, and money in the bank with no debts.Pump price/gallon readouts that year didn't go as high as the price-you had to multiply the price on the pump by 2x to know how much you really owed. I didn't have a credit card back then, got caught one day out of town having to empty out $5 worth of pennies from the bottom of my purse, to pay for a fillup to get back home. I was working with a guy from Texas that summer who had worked in the oil fields. He said during the embargo of the early 70's the US oil fields were burning pumped oil literally, for lack of storage room, AND LAUGHING as they watched it burn, saying "BURN,BABY, BURN!
alevin
Well-known member
Bottom line is gas prices were screaming that summer, gas lines were in effect, and this guy was telling me about deliberate cynical destruction of petroleum-related energy resources during the energy crunch of the 70's. I still see RED when I remember the deliberate cynical waste and profiteering going on behind the scenes.
James48843
Well-known member
Two maps today for you to look at, and think about.
You've been reading about the refined product (gasoline) shortages already occurring in Atlanta, northern Georgia, and North Carolina. Those shortages are reflected in the price maps from GASBUDDY.COM
You've been reading about the refined product (gasoline) shortages already occurring in Atlanta, northern Georgia, and North Carolina. Those shortages are reflected in the price maps from GASBUDDY.COM
View attachment 4754
Now take a look at that shortage a little closer. Who is servicing that area of the nation with refined gasoline? It's Colonial Pipeline. Colonial Pipeline is a major pipeline that serves the southeast. And, according to Dept of Energy reports, is only operating right now on partial capacity. I would also note that Colonial Pipeline does not even appear on today's Energy report out of the Hurricane Ike Energy report today. It has quietly fallen off the list of reported pipeline issues. Amazing how that happens, isn't it?
Here is the map, from Colonial Pipelines's website, of their service area. Compare the map, to the prices in red above.
Now take a look at that shortage a little closer. Who is servicing that area of the nation with refined gasoline? It's Colonial Pipeline. Colonial Pipeline is a major pipeline that serves the southeast. And, according to Dept of Energy reports, is only operating right now on partial capacity. I would also note that Colonial Pipeline does not even appear on today's Energy report out of the Hurricane Ike Energy report today. It has quietly fallen off the list of reported pipeline issues. Amazing how that happens, isn't it?
Here is the map, from Colonial Pipelines's website, of their service area. Compare the map, to the prices in red above.
View attachment 4755
Colonial Pipeline carries the gasoline from Texas and Louisiana, and delivers it to Georgia, North Carolina, Virginia, etc, ' right up through Washington D.C. and New Jersey.
So, when the pipeline is partially shut down, and only flowing a small amount of it's usual capacity, where do you think that gasoline is going to go?
Hint- It isn't Georgia and North Carolina.
So, when the pipeline is partially shut down, and only flowing a small amount of it's usual capacity, where do you think that gasoline is going to go?
Hint- It isn't Georgia and North Carolina.
fabijo
Well-known member
When I first saw how long it was, I thought I wouldn't watch it, but I just couldn't stop watching once I started. It's pretty crazy. I'm glad it put things together for you.
Who knows where to go??? Sometimes, it seems the message is to join a militia in the middle of nowhere and hope for the best. I don't see myself doing that.
nnuut
Moderator | TSP Legend
Oil slips amid growing global woes
Crude prices fell to near $103 a barrel amid worries that the economic slowdown will become a worldwide epidemic despited the U.S. bailout plan.
September 29, 2008: 5:50 AM ET
Here's the plan
SINGAPORE (AP) -- Oil prices fell to near $103 a barrel in Asia Monday on concern that economic growth will slow across the globe despite a tentative agreement in Washington on a $700 billion bailout package to stabilize the U.S. financial system.
Light, sweet crude for November delivery was down $3.73 to $103.16 a barrel in electronic trading on the New York Mercantile Exchange by midafternoon in Singapore. The contract fell Friday $1.13 to settle at $106.89.
Congressional leaders and the White House agreed Sunday to a rescue of the ailing financial industry after lawmakers insisted on sharing spending controls with the Bush administration.
The biggest U.S. bailout in history won the tentative support of both presidential candidates and goes to the House of Representatives for a vote Monday.
"The bailout package reduces the chance of a complete meltdown," said Victor Shum, an energy analyst with Purvin & Gertz in Singapore. "But worries on the demand side will continue to weigh on oil prices."
The plan would give the administration broad power to use hundreds of billions of taxpayer dollars to purchase devalued mortgage-related assets held by cash-starved financial firms.
Congress insisted on a stronger hand in controlling the money than the White House had wanted. The government would take over huge amounts of devalued assets from beleaguered financial companies in hopes of unlocking frozen credit.
"It's still a crisis situation," Shum said. "The market is concerned about the depth and breadth of this global downturn."
Prices were also pushed down by a stronger dollar. Investors often buy crude futures as a hedge against a weakening dollar and inflation, and sell when the dollar strengthens.
The 15-nation euro fell Monday to $1.4344 from $1.4614 on Friday while the dollar rose to 106.30 yen from 106.01.
"The bailout should inject confidence in the markets in the short-term," Shum said. "Longer term, it increases money supply, inflation and likely weakens the dollar -- all of which supports oil prices."
In other Nymex trading, heating oil futures fell 2.59 cents to $2.969 a gallon, while gasoline prices dropped 2.14 cents to $2.6437 a gallon. Natural gas for October delivery fell 8.1 cents to $7.547 per 1,000 cubic feet. In London, November Brent crude fell $1.52 to $102.02 a barrel on the ICE Futures exchange.
http://money.cnn.com/2008/09/29/markets/oil_prices_ap.ap/index.htm
Crude prices fell to near $103 a barrel amid worries that the economic slowdown will become a worldwide epidemic despited the U.S. bailout plan.
September 29, 2008: 5:50 AM ET
Here's the plan
SINGAPORE (AP) -- Oil prices fell to near $103 a barrel in Asia Monday on concern that economic growth will slow across the globe despite a tentative agreement in Washington on a $700 billion bailout package to stabilize the U.S. financial system.
Light, sweet crude for November delivery was down $3.73 to $103.16 a barrel in electronic trading on the New York Mercantile Exchange by midafternoon in Singapore. The contract fell Friday $1.13 to settle at $106.89.
Congressional leaders and the White House agreed Sunday to a rescue of the ailing financial industry after lawmakers insisted on sharing spending controls with the Bush administration.
The biggest U.S. bailout in history won the tentative support of both presidential candidates and goes to the House of Representatives for a vote Monday.
"The bailout package reduces the chance of a complete meltdown," said Victor Shum, an energy analyst with Purvin & Gertz in Singapore. "But worries on the demand side will continue to weigh on oil prices."
The plan would give the administration broad power to use hundreds of billions of taxpayer dollars to purchase devalued mortgage-related assets held by cash-starved financial firms.
Congress insisted on a stronger hand in controlling the money than the White House had wanted. The government would take over huge amounts of devalued assets from beleaguered financial companies in hopes of unlocking frozen credit.
"It's still a crisis situation," Shum said. "The market is concerned about the depth and breadth of this global downturn."
Prices were also pushed down by a stronger dollar. Investors often buy crude futures as a hedge against a weakening dollar and inflation, and sell when the dollar strengthens.
The 15-nation euro fell Monday to $1.4344 from $1.4614 on Friday while the dollar rose to 106.30 yen from 106.01.
"The bailout should inject confidence in the markets in the short-term," Shum said. "Longer term, it increases money supply, inflation and likely weakens the dollar -- all of which supports oil prices."
In other Nymex trading, heating oil futures fell 2.59 cents to $2.969 a gallon, while gasoline prices dropped 2.14 cents to $2.6437 a gallon. Natural gas for October delivery fell 8.1 cents to $7.547 per 1,000 cubic feet. In London, November Brent crude fell $1.52 to $102.02 a barrel on the ICE Futures exchange.
http://money.cnn.com/2008/09/29/markets/oil_prices_ap.ap/index.htm
hessian
Member
Fab,
I thought the same thing (75 min?), but I emailed it all around to friends, anyway. I Even told them the same - that once you start watching it, you won't be able to stop!
VR
I thought the same thing (75 min?), but I emailed it all around to friends, anyway. I Even told them the same - that once you start watching it, you won't be able to stop!
VR
Buster
Well-known member
I posted these 8 videos of Mr Williams about 6 months ago and was heavily criticized as to the facts he was stating was BS, by a certain know it all here, of all the oil situations in this country..Fab,
I thought the same thing (75 min?), but I emailed it all around to friends, anyway. I Even told them the same - that once you start watching it, you won't be able to stop!
VR
I'm glad you brought him back to fore front..Hope you don't get chastised like I did.
fabijo
Well-known member
Buster... thanks for not giving up on this site after the chastisement.
Silverbird
Well-known member
Chavez will love it if we bomb his country, it will "prove" every paraoid speech he's given, and let him know he *matters* to us, and he'll pull Russia into it.
Best thing to do with Venezuela is stop buying from Citgo, they are only still here because the gas stations are independently owned but stuck with their nationalized supplier, and refuse to buy from them otherwise. More importantly, refuse to refine their oil. Venezuela does not have the refining capacity to take advantage of all of their oil. If they want it refined, they can get Russia to fund building a refinery - shipping unrefined oil to Russia for processing is not worth the shipping expense, and Venezuela needs our oil consuming ways to keep them rolling in the green.
nnuut
Moderator | TSP Legend
Oil sinks more than $10
Crude plummets as bailout plan rejected in the House and global economic outlook darkens.
By Ben Rooney, CNNMoney.com staff writer
Last Updated: September 29, 2008: 2:48 PM ET
NEW YORK (CNNMoney.com) -- Oil prices tumbled Monday as the government's proposed $700 billion bailout was defeated by the House, adding to concerns about the spread of economic weakness worldwide.
A stronger dollar also pushed the price of oil lower as turmoil in the European economy undercut the euro and the pound.
Light, sweet crude for November delivery settled down $10.52 to $96.37 a barrel on the New York Mercantile Exchange.
Uncertainty about the bailout plan sent stocks sharply lower, with the Dow Jones industrial average plummeting 700 points, before regaining some ground.
The price of oil spiked last week, marking its largest one-day gain ever, as traders scrambled to buy futures before the expiration of the October contract.
But that rally was "technical in nature" and did not result in any "bullish follow through," said Stephen Schork, oil industry analyst and publisher of the Schork Report.
Instead, the market is "focusing on the real demand destruction in place right now," Schork said.
Economic weakness worldwide, combined with a seasonal downturn in demand for petroleum products, could drive the price of oil to $75 a barrel, according to Schork.
Bailout. [more]
http://money.cnn.com/2008/09/29/markets/oil/index.htm?postversion=2008092914
Crude plummets as bailout plan rejected in the House and global economic outlook darkens.
By Ben Rooney, CNNMoney.com staff writer
Last Updated: September 29, 2008: 2:48 PM ET
NEW YORK (CNNMoney.com) -- Oil prices tumbled Monday as the government's proposed $700 billion bailout was defeated by the House, adding to concerns about the spread of economic weakness worldwide.
A stronger dollar also pushed the price of oil lower as turmoil in the European economy undercut the euro and the pound.
Light, sweet crude for November delivery settled down $10.52 to $96.37 a barrel on the New York Mercantile Exchange.
Uncertainty about the bailout plan sent stocks sharply lower, with the Dow Jones industrial average plummeting 700 points, before regaining some ground.
The price of oil spiked last week, marking its largest one-day gain ever, as traders scrambled to buy futures before the expiration of the October contract.
But that rally was "technical in nature" and did not result in any "bullish follow through," said Stephen Schork, oil industry analyst and publisher of the Schork Report.
Instead, the market is "focusing on the real demand destruction in place right now," Schork said.
Economic weakness worldwide, combined with a seasonal downturn in demand for petroleum products, could drive the price of oil to $75 a barrel, according to Schork.
Bailout. [more]
http://money.cnn.com/2008/09/29/markets/oil/index.htm?postversion=2008092914