Oil Slick Stuff

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squalebear said:
A point I didn't think of. Annuities are until you kick the bucket. Monthly
withdraws call for caution. I must ponder this further,,,,,Thanks Norm.
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For me 2% a year (CSRS) of SL that can mount up and compound with Cost Of Living increases every year.:cool:
 
Buster said:
Keep wussing out and staying home sick with a runny nose and you won't:D
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View attachment 5892HA!!! Their not going to give me any crap. I'll go next week, and they are really short handed, I'm senior to everyone and they are trying to get a qualified replacement by the end of the year! Best of luck on that one!!false%20teeth.gif
 
nnuut said:
HA!!! Their not going to give me any crap. I'll go next week, and they are really short handed, I'm senior to everyone and they are trying to get a qualified replacement by the end of the year! Best of luck on that one
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In all our years of loyal service, it appears to be the only time we get
to have them by the groin. I'm Seniority #9 at my facility and it won't
be until July 2010 until I can walk in there and think "I do so because
I choose to". What a wonderful feeling of freedom that must be. I really
can't wait. :cheesy:
 
I always have and always do my job very well, that hasn't changed. I just don't have to take no stuff!:cool:
 
Nuuut and SB I hear what you are saying and enjoy the conversation but there are some situations where even being eligeable to retire doesn't give you any leverage, cause management just doesn't care because though it make take four or ten tries, you can be replaced. The fact that customer service sufffers doesn't seem to be a factor. (yes SB they are your customers)

I am a wage board (also known as local equivilent) employee so things are a little different from your jobs. I have noticed there does seem to be a bigger agenda than just seniority or qualifications in the promotions system.

I'm FERS so I will likely not feel well toward the end either. Even if I could sell the SL I would keep it till the end cause as SB said, it goes fast if you get sick.

What I really wish is that we could sell back annual leave yearly with no limit. That would keep management happy cause they wouldn't have to worry about how to fill in for someone on leave when the rest are over extended anyway. And the fact that we are all "equally qualified" but in reality have all been forced to become specialists due to work assignments.

The majority of us do our jobs very well or we would not still have them. Unfortunately there is a minority that don't do their jobs very well or at all but seem to be invinceable when it comes to adverse action or dismissal. They become the stereotypical federal employee to the public.

I could go on, sorry to clutter up the oil slick but your back and forth about SL and retirement made me feel the need to vent.
 
I need to ask a question and hope you dont mind me intruding upon your thread to do so. If i bought into c-fund 100% last week and wanted to move a percentage over into I-fund today, will my IFT buy c-fund again at todays closing price or will it remain the same as last weeks buying price ( less what I move to I-fund). Again sorry for the intrusion.
 
gonefishin' said:
I need to ask a question and hope you dont mind me intruding upon your thread to do so. If i bought into c-fund 100% last week and wanted to move a percentage over into I-fund today, will my IFT buy c-fund again at todays closing price or will it remain the same as last weeks buying price ( less what I move to I-fund). Again sorry for the intrusion.
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It stays at the old price, as opposed to selling at today's closing price, and re-buying it at today's closing price. It has no adverse affect on your C fund return if that's what you are asking.
 
nnuut said:
Oil on the rise, No Sir I Don't Like It!!!:nuts:
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And gas went down about .10 last night..
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The delay in Oil Markets effecting the price is still there. Look to the future!:cool:

Oil jumps over $2 after UAE signals deeper cuts

Drop in oil flows to Asia surprises investors and may signal a production cut announcement in March.

Last Updated: February 26, 2009: 11:00 AM ET

(Reuters) -- Oil rose above $45 a barrel on Thursday after the United Arab Emirates announced deeper cuts in crude supply to Asia for April in a possible signal that OPEC will cut output further at its next meeting in March.


Abu Dhabi National Oil Co (ADNOC), the main oil supplier in the UAE, said it will sell customers less of its flagship Murban crude oil and three other main grades in April than in March.
The move came as a surprise to traders, who had expected the UAE to keep April supply curbs largely unchanged.
U.S. crude for April delivery was up $2.51 at $45.01 a barrel at 11 a.m. ET.
Edward Meir, analyst at MF Global in New York, said the market was expecting further cuts in production by the Organization of the Petroleum Exporting Countries:
"Crude oil prices could work slightly higher from here, (likely in fits and starts), as we approach the OPEC meeting, and as participants begin to discount another likely cut."
"However, even if OPEC was to go ahead with its cut, we have our doubts that prices will move substantially above the $50 mark; that seems to be a fair price for oil right now given the poor macro backdrop," Meir said.
U.S. stockpiles
http://money.cnn.com/2009/02/26/markets/oil.reut/index.htm?postversion=2009022611
 
What happened today, Hot Shot?:nuts:

02/26/2009 - Updated 2:29 PM ET

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U.S. stocks rise along with crude oil, or vice versa
Investors ditching traditional data points to fixate on perceptions
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By Kate Gibson, MarketWatch

NEW YORK (MarketWatch) -- The global recession and uncertainty about the future means traders now routinely bypass what used to be market fundamentals, with the stock and oil markets increasingly taking their cues from one another, analysts said Thursday.
"Traditional links tend to be going out the window. A large part of the market is trading on perception and not fundamentals," said Doug Roberts, chief investment strategist, ChannelCapitalResearch.com.
On Thursday afternoon, energy shares led sector gains as investors grappled with uncertainty about the economy and the government's latest moves to help ailing banks.
At 2:30 p.m. Eastern, the Dow Jones Industrial Average [$INDU] was up 19.99 points at 7,290.88. The S&P 500 [$SPX] gained 1.28 points to 766.18, while the Nasdaq Composite [COMP] declined 9.31 points to 1,416.12.
"Even though controversial, [President] Obama's budget plan is at least addressing the problem. It's maybe not what I want, but it's better than nothing," said Roberts.
On the New York Mercantile Exchange, crude-oil futures ended at a one-month high, up $2.63 to $45.13 a barrel.
"What I think we'll see coming up with the oil and stock markets is traders watching to see if demand for oil starts to increase, which is a positive signal to the stock market that the recession is starting to wane," said Mike Zarembski, senior commodities analysts at OptionsExpress.
Crude's climb came in the wake of Wednesday's weekly U.S. fuel inventories report that showed gasoline supplies dropping more than expected amid increased consumption, heightening perceptions that demand for energy could improve further.
The bullish data sent crude surging more than 6% to above $42 a barrel on Wednesday, yet the rally was curbed by the stock market's decline.
"It shows what a negative sentiment has on a bullish market. Right now, the stock market really is the dog, and the tail is the energy market. If this market (stocks) were to turn down, you can almost guarantee oil would slump," said Zarembski.
It was a dramatically different story nine months back, when crude prices were hitting record highs, a scenario that tended to have a negative impact on stocks on fears that pricier energy costs would hurt companies' bottom lines. Crude peaked around $147 a barrel last July.
"We don't want really low or really high crude price; the $40 to $60 range is good for everyone in that it encourages production, but it's not enough to choke off development and exploration," said Zarembski.
"Oil traders, grain traders, metals traders are all watching the stock market. There are other times when everyone is watching crude oil. The markets seem to swing from one to another, depending on what's in vogue. And right now everybody is watching the stock market -- everybody's glass is half full," he said.
http://markets.usatoday.com/custom/...C&guid={819C72B6-4FC8-44A2-AFDD-CEDF5EF18868}
 
6.4% jump in oil prices

A new supply cut announcement from the United Arab Emirates helped push crude almost $3 higher.

Last Updated: February 26, 2009: 3:03 PM ET



NEW YORK (CNNMoney.com) -- Oil prices rose for the third straight session Thursday as talk of production restrictions raised supply concerns.

Crude oil for April delivery rose $2.72, or 6.4%, to close for the day at $45.22 a barrel.
"We have had a nice crescendo of bullish news here the last couple of days," said James Cordier, founder of OptionSellers.com.
However, he cautioned that it was unlikely prices would move much higher with the economy still mired in recession. [more] http://money.cnn.com/2009/02/26/markets/oil/index.htm?postversion=2009022615
 
Oil retreats after rally

Analysts say the oil market is 'in balance' as OPEC cuts take hold and demand for gasoline firms.

February 27, 2009: 7:54 AM ET

LONDON (Reuters) -- Oil fell back on Friday from its three-day bull run, paring around $1 in early trade, but otherwise remaining on course to end the month up 5% from January, its first monthly gain since June.
OPEC production cuts and a bounce in U.S. demand for gasoline this week have pushed oil prices up, and analysts at JP Morgan said supply tightness meant "the crude market is finally in balance."
http://money.cnn.com/2009/02/27/markets/oil.reut/index.htm?postversion=2009022707
 
nnuut said:
Oil retreats after rally

Analysts say the oil market is 'in balance' as OPEC cuts take hold and demand for gasoline firms.

February 27, 2009: 7:54 AM ET

LONDON (Reuters) -- Oil fell back on Friday from its three-day bull run, paring around $1 in early trade, but otherwise remaining on course to end the month up 5% from January, its first monthly gain since June.
OPEC production cuts and a bounce in U.S. demand for gasoline this week have pushed oil prices up, and analysts at JP Morgan said supply tightness meant "the crude market is finally in balance."
http://money.cnn.com/2009/02/27/markets/oil.reut/index.htm?postversion=2009022707
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Trouble is, it's like a teater totter..At one point it comes to level, but not for long.:notrust:
 
Viva La Migra said:
And our economy is down 6.2%...coincidence? I think not!
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Lately the price of Oil has risen everytime they see any sign of a recovery and of course reductions in supply. Bad economic news should cause the price to drop becouse the shrinking economic economy will require less energy to fuel. Now economy down and fuel UP?:confused:
On the other hand Oil lower today possibly due to the GDP numbers?
 
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As anyone can see we will know who to thank for $4 a gallon gas in the near future!!beergas.jpg

Obama Budget Hits Oil, Gas Cos with New Fees,Taxes :mad:

by Siobhan Hughes and Ian Talley Dow Jones Newswires Friday, February 27, 2009

WASHINGTON (Dow Jones Newswires), Feb. 27, 2009
The Obama administration Thursday proposed raising at least $31.5 billion over 10 years from oil and gas companies, reflecting a repeal of tax breaks for domestic production and new charges on oil and gas production in the Gulf of Mexico.
The plans, outlined as part of a fiscal 2010 budget proposal, revive long-standing Democratic efforts to turn to the oil and gas

industry as a source of funding for other priorities. Among other things, the Obama budget plan calls for about $13 billion over 10 years in new charges on oil and gas companies from the repeal of a tax deduction for domestic production.
"It's a concerning area, of course, because as you put more royalty and tax burdens on the industry, particularly a cyclical industry, you just have to be cognizant of the potential impact it has on investments," said Marvin Odum, the president of Royal Dutch Shell's (RDSA) U.S. operations, after meetings with various lawmakers about energy policy. "That's not something you can put real definition to, but I think it's a concern."
Oil companies have been fighting to maintain the tax treatment, which they say keeps jobs in the U.S. by encouraging domestic production. Congress scaled back the tax deduction last year to help pay for an extension of tax breaks for the solar and wind industries, but stopped short of eliminating it entirely.
The Obama administration also proposed a new excise tax on oil and gas production in the Gulf of Mexico, saying it would raise about $5 billion over the next 10 years. The White House said that the new tax, along with plans to charge user fees to oil companies for processing oil and gas drilling permits on federal lands, would "ensure that federal taxpayers receive their fair share" and "close loopholes that have given oil companies excessive royalty relief." The tax "will begin in 2011, after the economy has had time to recover," the White House said.
Democrats have been battling oil firms to get royalty payments from Gulf of Mexico leases signed in the late 1990s, years when the government apparently accidentally left price triggers out of contracts. Government auditors say that the omission could ultimately short change taxpayer coffers by billions of dollars.
Six companies -- including BP PLC, Royal Dutch Shell, ConocoPhillips and Marathon Oil Corp. - - originally agreed to pay royalties on the leases for production from October 2006, but not on past output. But that agreement wasn't finalized, and negotiations stalled after lawmakers pressed for payment on past output and after a court ruling in favor of the oil industry. The firms only represented a fraction of the total lease owners.
Around 40 companies representing 80% of the production haven't agreed to re-negotiate the leases, including Exxon Mobil Corp., Total SA, Chevron Corp. and Anadarko Petroleum Corp., according to Interior Department data.
Interior Secretary Ken Salazar and key Congressional Democrats have promised to reform the structure of fees and royalties on public lands, and a senior Office of Management and Budget official said the new oil industry taxes would help to "re-balance the tax system."
"This budget begins that process, that conversation on finding ways to rebalance the tax system over so that we can get at the $1.3 trillion deficit that we inherited," the official said.
Copyright (c) 2009 Dow Jones & Company, Inc.
http://www.rigzone.com/news/article.asp?a_id=73471
 
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