Oil Slick Stuff

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Bullitt said:
Hmmm. At least, that's what the word is on main street. I have a feeling that there are other Hedge Funds/Mutual Funds besides SemGroup that are in trouble over their bets on Commodities. Janus got waaayy overweight Commodities after getting destroyed when the Tech Bubble burst.

http://www.marketwatch.com/news/sto...3F450-8AD3-4023-9958-4D5305E4836F}&dist=msr_1

Janus is just one fund company of the thousands that were probably pressured into jumping onto commodities just as things began to get euphoric. Better them than me, I don't invest in things meant for consumption.

Speaking of Cause and Effect.... Wasn't it the two Bear Sterns hedge funds about a year ago that, in hindsight, were the signal to get the heck outta stocks?
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It was Goldman Sachs, the anti christ. They put a run on SemGroup and drove prices up to $147 just to benefit their own pockets. Some day, some journalist somewhere will fight the power and expose the inside trading that happens at these firms and it will be on mainstream media. There will be an uprising when people find out that a few greedy crooks exacerbated the global recession by manipulating prices higher, ultimately leading to the layoffs of millions tied to the global economy. This runup had nothing to do with supply and demand. Everybody knows that nobody knows manipulation like this happens every day.

Semgroup's collapse was more than just bad judgment and worse timing. There is evidence of a malevolent hand at work: oil price manipulation by traders orchestrating a short squeeze to push up the price of West Texas Intermediate crude to the point that it would generate fatal losses in Semgroup's accounts.
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http://www.forbes.com/forbes/2009/0413/096-sachs-semgroup-goldman-goose-oil.html

I really wish this kind of thing would be on the mainstream news with Brian Williams instead of this smoke about CEO kickbacks and bonuses. Oil affects everyone on the planet, the CEO salaries are a drop in the bucket compared to the manipulation that took place in the oil markets. Everyone complains about the Plunge Protection Team. Well, for the record, I don't believe in it. I believe Goldman Sachs is the #1 market manipulator. These guys are everywhere.
 
Bullitt said:
It was Goldman Sachs, the anti christ. They put a run on SemGroup and drove prices up to $147 just to benefit their own pockets. Some day, some journalist somewhere will fight the power and expose the inside trading that happens at these firms and it will be on mainstream media. There will be an uprising when people find out that a few greedy crooks exacerbated the global recession by manipulating prices higher, ultimately leading to the layoffs of millions tied to the global economy. This runup had nothing to do with supply and demand. Everybody knows that nobody knows manipulation like this happens every day.

http://www.forbes.com/forbes/2009/0413/096-sachs-semgroup-goldman-goose-oil.html

I really wish this kind of thing would be on the mainstream news with Brian Williams instead of this smoke about CEO kickbacks and bonuses. Oil affects everyone on the planet, the CEO salaries are a drop in the bucket compared to the manipulation that took place in the oil markets. Everyone complains about the Plunge Protection Team. Well, for the record, I don't believe in it. I believe Goldman Sachs is the #1 market manipulator. These guys are everywhere.
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Stop SHORT SELLING (mainly the NAKED type), there is something inherently illegal about it. They used it to drive marginally depressed companies OUT OF BUSINESS and the regulators do nothing about it, I wonder why?
The price of commodities (mainly fuel) drove our economy down to where it is today, the housing debacle couldn't do it buy its self, the Hedges drove the price up to oblivion and they are doing it again. Oil should be around $20 a barrel with the world economy and demand at all time lows, they are having a hard time storing the excess and paying huge fees to do it then just passing the costs to the consumer.
Beautiful day here in GA about 86 degrees, I just opened the pool last week and it's lookin' good, clear as glass and cold as hell. Having a few folks over for a BBQ this afternoon, slow cooking a couple of pork shoulders, everyone will bring a dish so it should be GREAT! TO HELL with the Market today!!! Man_relaxes.gif
 
nnuut said:
My, you are up late!

Is one of these 2 stations in the city and the other just in the county, or rural area? Sometimes it's a TAX difference.:cool: Delivery cost vary more than you would think if they are out of town.:cool:
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Just had got home from a date;)..

But RE: your question..Both 7-11's are in the same; City, County, School District, Zip Code and Area Code.
 
Buster said:
Just had got home from a date;)..

But RE: your question..Both 7-11's are in the same; City, County, School District, Zip Code and Area Code.
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Crooks are everywhere, I hope your date worked out well. I haven't been on a date with anyone but the Wife in a LOOOOOONG time. I would have a bad case of DATE FRIGHT!!:blink: anxiety.gif

I could be a little inept to say the least.
http://www.youtube.com/watch?v=rwoUcYKUanM
 
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nnuut said:
I hope your date worked out well. I haven't been on a date with anyone but the Wife in a LOOOOOONG time. I would have a bad case of DATE FRIGHT!!:blink:
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It went great as usual..I mean after all, she was with me:rolleyes:..No fears here, She is one of three I see on a regular basis..In fact one is here right now doing her laundry and mine of course....Whoa!!, that reminds me, I gotta hide some underwear I had on the other night..See ya later..:embarrest:
 
Yes I remember the Old Days!! Don't mention it to my Wife!!:worried:

Talkin' about GAS!!:rolleyes:

Oil tumbles on flu outbreak

Futures decline below $50 a barrel as concerns about a possible pandemic weigh on the market.

By Ben Rooney, CNNMoney.com staff writer
April 27, 2009: 7:50 AM ET


Click the chart for current oil prices.

NEW YORK (CNNMoney.com) -- The price of oil fell more than 5% Monday morning as concerns about the potential economic repercussions of a swine flu pandemic weighed on the stock market and lifted the U.S. dollar.
Light sweet crude for June delivery was down $2.78 to $48.77 a barrel in pre-market, electronic trading. On Friday, oil surged nearly 4% to settle at $51.55 a barrel.
http://money.cnn.com/2009/04/27/markets/oil/index.htm?postversion=2009042707
 
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nnuut said:
Talkin' about GAS!!:rolleyes:

Oil tumbles on flu outbreak

Futures decline below $50 a barrel as concerns about a possible pandemic weigh on the market.
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Now that's the funniest thing I could imagine to affect oil prices..But what the hey..I'll take it..LOL:laugh:
 
On a slightly more serious note, less travelling, less oil sales (includuing warning from EU to avoid Mexico AND U.S. travel for a bit).
 
I would love to avoid catching the PIG Flu, but I guess you would have to lock yourself up for 6 Months to do that?:(
 
HA HA HA HA, LOL Listen to this guy, Oil is OVERPRICED and OVER STOCKED!! false teeth.gif

OPEC chief says oil prices are too low

Secretary general al-Badri says non-member nation, including Russia, should cut production to boost prices.

April 26, 2009: 12:41 PM ET

ALGIERS, Algeria (Reuters) -- An oil price of $50 per barrel is too low for OPEC producers to invest in production and non-member countries, including Russia, should cut output to help boost prices, OPEC's secretary general said Sunday.

http://money.cnn.com/2009/04/26/news/international/opec.reut/index.htm?postversion=2009042612
 
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At $50.50 a barrel this morning.:o

04/28/2009 - Updated 3:07 PM ET
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Oil falls below $50 on worries flu will curtail travel
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By Moming Zhou, MarketWatch & Polya Lesova, MarketWatch

NEW YORK (MarketWatch) -- Crude-oil futures fell for a second session Tuesday to end below $50 a barrel on worries that a spreading swine-flu outbreak will curtail travel and delay recovery in the global economy, in turn reducing oil demand.
Crude for June delivery dropped 22 cents, or 0.4%, to $49.92 a barrel on the New York Mercantile Exchange. Earlier it lost more than 3% to as low as $48.55. Crude's losses were reduced in afternoon trading as stocks turned around.

http://markets.usatoday.com/custom/...S&guid={1B2A86E6-87AA-411B-86A4-64FC0F7AF23D}
 
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Oil higher as gasoline supply shrinks

Crude prices remain up after government report shows gas stockpiles fell 4.1 million barrels last week.

By Julianne Pepitone, CNNMoney.com contributing writer
Last Updated: April 29, 2009: 10:51 AM ET


Click the chart to view the latest commodity prices.
NEW YORK (CNNMoney.com) -- Oil prices rose Wednesday after a government report said supplies of gasoline fell unexpectedly.


At 10:40 a.m. ET, crude prices rose $1.25, or 2.5%, to trade at $51.17 a barrel. Prices were up $1.02 to $50.94 just prior to the report's release.
In its weekly inventory report, the Energy Information Administration said stockpiles of gasoline fell by 4.1 million barrels in the week ended April 24.
Analysts were looking for an increase of 900,000 barrels, according to a consensus estimate compiled by Platts, an energy information provider.
http://money.cnn.com/2009/04/29/markets/oil/index.htm?postversion=2009042910
 
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nnuut said:
Oil higher as gasoline supply shrinks

Crude prices remain up after government report shows gas stockpiles fell 4.1 million barrels last week.
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Sure..Stop or slow down refining GASOLINE, stock piles will fall eventually..even if it's by evaporation...BASTARDS!:mad:
 
Can't hold back...Changing...into.....CAPTAIN OBVIOUS:

Shouldn't our reserves be stockpiled while the price is low?

:suspicious:
 
Frixxxx said:
Can't hold back...Changing...into.....CAPTAIN OBVIOUS:

Shouldn't our reserves be stockpiled while the price is low?

:suspicious:
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That kind of thinking doesn't exist in the current administration. Just look at what they’re doing to assure the cost of energy rises, they don't care about the cost to the citizens. Let's just change the color of everything to GREEN and I mean RIGHT NOW. It will take a bunch of our GREEN to pay for this if we are going to do it let's do it in an intelligent manner. Green is the color of unkempt swimming pools, bad bread and a host of other putrid things, I think they need a different mantra. :D (happy GREEN Guy)
 
Exxon profit falls on economy, lower prices

The oil company's first-quarter earnings per share miss analysts' expectations.

By Ben Rooney, CNNMoney.com staff writer
Last Updated: April 30, 2009: 8:32 AM ET

v2-cnnmoney-chart1.jpg.mkw.gif


NEW YORK (CNNMoney.com) -- Exxon Mobil reported a big drop in first-quarter earnings and revenue Thursday due to lower commodity prices and the weak global economy.
The Irving, Texas-based company said it earned $4.5 billion in the first quarter, down 58% from $10.89 billion a year earlier. On a per-share basis, Exxon said it earned 92 cents, off 54% from $2.03 in the first quarter of 2008.
Analysts were expecting earnings of 95 cents per share, according to Thomson Reuters.
http://money.cnn.com/2009/04/30/news/companies/Exxon_earns/index.htm
 
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04/30/2009 - Updated 1:11 PM ET
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Crude edges lower on rising inventories, stronger dollar
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By Polya Lesova, MarketWatch & Moming Zhou, MarketWatch

NEW YORK (MarketWatch) -- Oil futures edged lower Thursday, reducing their monthly gains, as rising crude inventories and a strengthening dollar appeared to override hopes for a global economic recovery.
Government data showed Wednesday that U.S. crude inventories rose 4.1 million barrels to stand at 374.7 million barrels -- the highest level since September 1990. However, gasoline inventories showed a surprising decline as refineries reduced production.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B2C41D511%2D81A9%2D40E9%2DB03A%2DC00444D9240F%7D
 
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