Oil Slick Stuff

Sort by newest Sort by date
EVERYBODY'S HAPPY to ruin our economy with SUPER inflation!!:nuts:

05/27/2009 - Updated 4:19 PM ET

1.gif
Oil rises above $63 a barrel on economic recovery hopes
1.gif
By Moming Zhou, MarketWatch


NEW YORK (MarketWatch) -- Crude-oil futures finished at their highest level in nearly seven months on Wednesday, topping $63 a barrel on hopes for an economic recovery and a rebound in oil demand.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B337B8830%2D0B4E%2D452A%2D820E%2D0E4593538A57%7D
 
Last edited:
Oil ministers: OPEC keeps output steady

Oil ministers: OPEC oil ministers keep output targets steady

  • George Jahn, Associated Press Writer
  • On Thursday May 28, 2009, 8:38 am EDT
VIENNA (AP) -- OPEC oil ministers on Thursday kept output targets unchanged in hopes a recovering world economy will raise prices through increased demand -- and thus eliminate the need for them to cut back production.

An OPEC statement said the organization "decided to maintain current production levels unchanged for the time being."
Oil producers reiterated their "firm commitment" to their existing quotas, in an effort to trim oversupply.
http://finance.yahoo.com/news/Oil-m...368344.html?sec=topStories&pos=7&asset=&ccode=
 
Last edited:
Oil rises, nearly $65 a barrel

OPEC decision to hold daily production quota at 25 million barrels and a government report showing falling crude supplies support rising oil prices.

By Julianne Pepitone, CNNMoney.com contributing writer
May 28, 2009: 12:29 PM ET

Click the chart to view the latest commodity prices.

NEW YORK (CNNMoney.com) -- Oil held above $64 Thursday after OPEC decided to leave the group's crude production unchanged and an inventory report showed falling supply.
Light, sweet crude for July delivery was up $1.25 to $64.70 a barrel at 11:55 a.m. ET. Oil has settled above $60 for five days in a row. [more]
http://money.cnn.com/2009/05/28/markets/oil/index.htm?postversion=2009052812
 
This just in today- do not know what will happen once the reserve is full and the current input demand is back on the market after July 1;

"U.S. government has been quietly bulking up its Strategic Petroleum Reserve, which now houses some 721 million bbl of crude oil. That's 18 million bbl more than this time last year. At the current rate, the SPR would hit its maximum capacity by July 1."

This would have pulled crude up- pleasing the oil patch, save the US gov $ vs future fill prices, helped bring alt fuels back into competitive stance sooner, give the future some spike limit, provide some war chest supply, and hit our spending budget this year.

Good and bad in each side- mostly good for US citizens.
 
I think I read that the USA uses around 20 (20,680,000)Mil barrels of oil a day? "721 million bbl of crude oil", That's a 36 day supply, we need more! I know where there is much more than that.
http://www.eia.doe.gov/basics/quickoil.html

Survey: Arctic may hold twice the oil previously found there

updated 6:38 p.m. EDT, Thu May 28, 2009

corner_dg_TL.gif

By Azadeh Ansari
CNN

(CNN) -- Continental shelves beneath the retreating polar ice caps of the Arctic may hold almost double the amount of oil previously found in the region, scientists say.
art.arctic.gi.jpg
A new survey finds the Arctic could hold almost double the amount of oil previously found in the region.

In new findings, the U.S. Geological Survey estimates the Arctic may be home to 30 percent of the planet's undiscovered natural gas reserves and 13 percent of its undiscovered oil.
http://www.cnn.com/2009/TECH/science/05/28/arctic.oil.gas.reserves/index.html
 
Last edited:
Oil rises as data show less severe U.S. GDP contraction Atop $66 and on track for biggest monthly surge since March 1999
1.gif


By Polya Lesova, MarketWatch

NEW YORK (MarketWatch) -- Crude-oil futures rose past $66 a barrel Friday, on track for the biggest monthly surge in a decade, as data showed a less severe contraction in the U.S. economy than previously estimated, fueling hopes for a recovery in energy demand.
Crude for July delivery gained $1.10, or 1.7%, to $66.20 a barrel in electronic trading on Globex. Earlier, the contract soared to an intraday high of $66.47 a barrel.
http://markets.usatoday.com/custom/...S&guid={585DAF21-E52C-47BF-84D8-2BDBA7681764}
 
Last edited:
Buster said:
10 Things Gas Stations Won't Tell You..


http://finance.yahoo.com/family-hom...-Gas-Stations-Won't-Tell-You?mod=family-autos
Click to expand...

Thanks Buster- I like the last one-

10. “You don’t even need gas to run your car.”
Cars run on gasoline—but not all cars need gasoline to run. In fact, 6 million cars on the road today (mostly from U.S. manufacturers and built since 1998) are “flexible fuel” vehicles that can run on E85, a fuel that is 85 percent ethanol and only 15 percent gas. When Minneapolis resident John Schafer bought a car in late 2001, he chose a Chevy Tahoe because it’s a flexible-fuel car. Since then he’s filled up almost exclusively with E85. The big difference he’s noticed: Cars using E85 get about 15 percent fewer miles to the gallon. But it’s a drawback he’s willing to put up with. “I’m committed to the technology,” Schafer says. “With E85, it burns cleaner so it won’t pollute as much.”
While E85 generally costs less than regular gas, there is some concern that it may grow prohibitively expensive as demand outpaces supply: By 2006 ethanol was not just being used in E85—it also composed 15 percent of every gallon of gas sold. Supplies of ethanol are likely to grow thin, which could drive up the price of E85. And even die-hard Schafer says he won’t buy E85 if it starts to cost more than gasoline.
Click to expand...
One correction in that data- he says "there is some concern that it may grow prohibitively expensive as demand outpaces supply: By 2006 ethanol was not just being used in E85--it also composed 15 percent of every gallon of gas sold. Supplies of ethanol are likely to grow thin.."


That is simply wrong information. First off, E85 only represents currently about 3% of all ethanol sales. That's up from 2% a year and a half ago. Yes, it's gone up, but there is still way, way more capacity to make E85 that is being used that way.

Most of the ethanol is being used as a blending component. And it's not 15% of a gallon of gas, in most markets it currently around 5%, with some up to 10%. You won't find it above 10% today, unless someone using it in an unapproved way. The EPA is considering raising the percentage to 15%, but that is very unlikely, as Underwriter's Lab is saying they don't know the exact effect on equipment at 15%, and they want millions more in fees for further testing.

Capacity to make ethanol is now close to 10 billion gallons a year- up from 5 billion gallons just two years ago. Again, only 3% is being used for E85 production. And research is still going on for the next generation of ethanol- that made from other plants. Cellulosic Ethanol is expected to pick up a significant amoutn of production a decade from now, but the technology to make it still isn't what it needs to be in order to be commercially viable. IN the meantime, we've got plenty of corn in this country- farmers grow way more than is needed for fuel productions, and there is lots of land to plant more if the market decides that what we're going to do.

Today, only about 30% of airable farmland is actually being used for farm crops. Much of the rest is enrolled in government programs NOT to grow things, as a price support to farmers. They get tax money NOT to grow anything, and leave the land fallow. Last year, when market traders bid the corn price up to $8 a bushel, farmers were begging the federal government to break their farm subsidy leases and allow them to plant corn instead. Since then, corn is back down to normal levels- $4 a bushel, and there is still plenty of corn- so much so that about 25% of the crop simply is wasted in piles at railroad loading docks, or on the ground outside.

We are a long- long way from having a time when E85 demand will equal production capability. So for at least the foreseeable future, ethanol E85 is definitely the way to go for fuel. Today, about 20% cheaper than gasoline in most places. I see it's actually a 30% cheaper price spread out in California this week. That should boost E85 sales. See E85 prices nationwide at http://e85prices.com


Price in Sacramento, California yesterday:
Gasoline: $2.89, E85 at $1.99

76dmcwsacprice5.29.09.jpg


Go E85!
​
 
Ugh! Gas hits $2.50:mad:

Drivers already feeling the recession's pain suffer as the average price of a gallon rockets more than 50% since the start of the year.

By CNNMoney.com staff
May 31, 2009: 8:17 AM ET


chart_gas_prices250sun.03.gif


NEW YORK (CNNMoney.com) -- The price of gas, rising for the 33rd straight day, has reached $2.50 a gallon, motorist group AAA reported Sunday.

The spike of more than 20% in a month is hitting Americans in their wallets and causing concern among some experts.
The jump in one of consumers' staple purchases comes at a fragile time for the economy. Recently some measures of housing, spending and credit have hinted that the most severe parts of the recession may be easing.
http://money.cnn.com/2009/05/31/news/economy/gas_prices/index.htm?postversion=2009053108
 
Last edited:
oil goes up and two tankers empty 2 of our wells, and belly up again , and of course this is before they send us not even a $15 dollar check, i guess they are slick next month probably same company different name , wait for a good gain and belly up again . becoming the norm around here
 
Last edited by a moderator:
nnuut said:
Hey KC, I didn't know you were an Oil MAN?? View attachment 6387
Click to expand...
man i wish i just was spilling milk for my pops , 85 years old and say's he's been screewed in every way , when it comes to mineral rights:confused: about the time they blow in his ear and send a 15 dollar check , next month or 2 they will notify - they are going Belly up , i just wonder how much each of them tankers that pull off are really worth, he has more in Texas, pay's A whole lott better down there
 
!

kar crazy said:
man i wish i just was spilling milk for my pops , 85 years old and say's he's been screewed in every way , when it comes to mineral rights:confused: about the time they blow in his ear and send a 15 dollar check , next month or 2 they will notify - they are going Belly up , i just wonder how much each of them tankers that pull off are really worth, he has more in Texas, pay's A whole lott better down there
Click to expand...
Crooks are everywhere buddy, sorry their ripin' off your GP!:nuts:
 
Last edited:
Oil jumps on global stock rally

Dollar and Treasurys fall following General Motors' bankruptcy filing.

By Catherine Clifford, CNNMoney.com staff writer
Last Updated: June 1, 2009: 3:18 PM ET

Click on the chart to see other prices of commodities.

NEW YORK (CNNMoney.com) -- Oil prices rose Monday after global stock markets rallied and the dollar and Treasurys fell, following General Motors Corp.'s bankruptcy filing.
Light, sweet crude for July delivery rose $2.27, or more than 3.4%, to settle at $68.58 a barrel Monday.
The last time oil prices reached these levels was Nov. 4, when oil settled at $70.53.
http://money.cnn.com/2009/06/01/markets/oil/index.htm?postversion=2009060115
 
Last edited:
Here's a project for Ya!!:D

Indiana News
Video: Man Whizzes By Gas Stations With Self-Made Electric Car

Man Whizzes By Gas Stations With Self-Made Electric Car

Man Converts Escort To Electric Only

POSTED: 12:32 pm EDT June 2, 2009
UPDATED: 1:52 pm EDT June 2, 2009

INDIANAPOLIS -- With gas prices up another 20 cents Tuesday, an Indianapolis man is happy to not have to worry about it.
Patrick Roth uses a fully electric car to take his daughter to school and run errands, 6News' Jennifer Carmack reported.
The car may look like any ordinary Ford Escort, but a closer look reveals that it's anything but. Roth didn't buy the car that way. He built it himself.
http://www.theindychannel.com/news/19633781/detail.html
 
Last edited:
Oil Could Rally Again Wednesday on Crude Inventories

Published: Tuesday, 2 Jun 2009 | 6:20 PM ET

By: Krystina Gustafson

Traders took a pause from the oil rally as it closed nearly flat at $68.55 Tuesday. Still, it could rally back toward the $70 mark Wednesday on the Energy Department's release of crude oil inventories, which are expected to show a decline.
Elsewhere in commodities, gold continued its rise toward $1000 an ounce, copper retreated more than 2 percent and platinum rose. Sharon Epperson reports. Watch the video for more.
http://www.cnbc.com/id/31070568
Click here to track oil and other commodities
 
You must log in or register to reply here.
Back
Top