Oil Slick Stuff

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whats this $2 tax per gallon they were talking about on gas yesterday , i made it home and pops was talking like a sailor:blink:
 
BREAKING
NEWS
Oil prices extend decline after government reports surprise increase in crude stockpiles.
More later!:D
 
Oil falls after surprise supply jump

Prices decline further after government report shows 2.9-million-barrel rise in stockpiles.

By Julianne Pepitone, CNNMoney.com contributing writer
Last Updated: June 3, 2009: 10:54 AM ET


Click the chart to view the latest commodity prices.

NEW YORK (CNNMoney.com) -- Oil prices extended their decline Wednesday after a weekly government inventory report said crude supplies rose unexpectedly.
Light, sweet crude for July deliveryfell $1.37 to $67.18 a barrel by 10:48 a.m. ET. Oil had traded down 75 cents just prior to the report's release.
http://money.cnn.com/2009/06/03/markets/oil/index.htm?postversion=2009060310
 
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Oil futures rise as jobless claims dipGoldman Sachs raises 2009 oil forecast to $85 a barrel
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By Polya Lesova, MarketWatch & Myra P. Saefong, MarketWatch

NEW YORK (MarketWatch) -- Crude futures rose more than 2% Thursday as data showing a decline in jobless claims as well as a bullish oil price forecast from Goldman Sachs boosted sentiment among investors.
Crude oil for July delivery rose $1.64, or 2.5%, to $67.73 a barrel in electronic trading on Globex.
The gains came after oil prices fell sharply on Wednesday, pressured by an unexpected rise in U.S. crude inventories.
http://markets.usatoday.com/custom/...S&guid={62DF24C8-1E11-4473-A45E-59F300A43907}
 
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Can I get an amen from the choir? --excerpt from KD's rant:

Speaking of excess liquidity.....
June 3 (Bloomberg) -- JPMorgan Chase & Co., the second- largest U.S. bank by deposits, hired a newly built supertanker to store heating oil off Malta, shipbrokers reported, in the company’s first such booking in at least five years.
The bank hired the Front Queen for nine months, according to daily reports from Oslo-based SeaLeague A/S and Athens-based Optima Shipbrokers Ltd. David Wells, a spokesman for JPMorgan in London, declined to comment.
​
So let me see if I get this right.
The Taxpayer hands JP Morgan billions of dollars to bail them out and keep them from potentially being declared insolvent.
In return for this JP Morgan spends that money speculating on the price of oil, and in fact does one better - they take physical delivery and lease a ship to store it in, thereby withholding the oil from the market and propping up the price, hoping to be able to sell that oil at a higher price later.
In the meantime, however, they are partially responsible for the rise in gas prices, meaning that not only did they collect taxpayer money once, but they are effectively partly responsible for you the consumer paying a second tax, this time through higher fuel prices at the gas pump.
Then, when the time is right (for them) they will sell the oil and profit a second time.
You, the taxpayer, will pay for all three of these actions.
 
The price is about to break the $70 a barrel level, how does it feel to watch the price being manipulated, similar to last year. There is plenty of Oil now, speculation by BIG MONEY, Price fixing buy suppliers and the refusal of our current administration to handle this so called energy crisis in an intelligent manner is driving the price up and up. It don't get no (any) better than this!!:nuts:
 
Oil eases ahead of jobs report

Crude prices hold near a 7-month high as market waits for the latest reading on the labor market in the U.S.


Click on the chart to see other commodity prices.

LONDON (Reuters) -- Oil slipped a little below $69 per barrel Friday but remained close to a seven-month high, supported by a rally in stock markets and expectations that the global economic downturn may not be as severe as expected.

On Thursday, U.S. crude futures gained 4% on hints of a recovery in oil demand following data showing the number of U.S. workers filing new claims for jobless benefits fell for a third straight week.
Financial markets awaited U.S. non-farm payroll figures to see if the data provided further evidence that the recession was easing in the world's biggest oil consumer.
http://money.cnn.com/2009/06/05/markets/oil.reut/index.htm?postversion=2009060506
 
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Oil touches $70 after jobs report

Crude prices hold near a 7-month high after a better than expected labor market report from the government.

Last Updated: June 5, 2009: 8:51 AM ET

Click on the chart to see other commodity prices.


LONDON (Reuters) -- Oil rose Friday, hovering around $70 a barrel, after a better-than-expected report on the U.S. labor market.
Government data showed the U.S. economy shed 345,000 jobs in May, below the 520,000 expected by economists and the revised 504,000 jobs lost in April. The jobless rate rose to 9.4%.
U.S. crude for July delivery was up 89 cents at $69.70 per barrel after peaking at $70.32. Oil has not topped $70 a barrel since early November.
On Thursday, U.S. crude futures gained 4% on hints of a recovery in oil demand following data showing the number of U.S. workers filing new claims for jobless benefits fell for a third straight week.[more]
http://money.cnn.com/2009/06/05/markets/oil.reut/index.htm?postversion=2009060508
 
No one seems to be looking at the $, could that be a factor here? Oil prices *are* calculated in US$...
 
More CHAFF, to drive the price upward:

Waiting for the Blow: GOM Rig Fleet Preps for Hurricane Season

by Phaedra Friend

Rigzone

Thursday, June 04, 2009

Hurricane season 2009 officially begins this week and lasts through Nov. 30. Despite the fact that two respected hurricane forecasting groups have predicted an average season, the high winds and waves from one hurricane could wreak havoc on the offshore oil and gas industry operating in the Gulf of Mexico.
In the Path of the Storm: Offshore Rigs Working in the GOM

Currently, there are six drillships, 33 semisubmersibles, 112 jackups, 7 submersible rigs and 64 inland barges -- for total of 223 rigs -- located in the US and Mexican waters of the Gulf of Mexico.
HIW_GOM_hurricane.jpg

Of the drillships, five of the rigs are managed by Transocean. Additionally, all of the drillships are in the US GOM and are rated for at least 10,000 feet of water.
http://www.rigzone.com/news/article.asp?a_id=76833&hmp=1
 
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Floating wind turbine launched


By Jorn Madslien
Business reporter, BBC News
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_45873688_-14.jpg
Floating wind turbines can help shift offshore wind farms out of sight

The world's first floating wind turbine is to be towed out to sea this weekend. Statoil's Alexandra Beck Gjorv told the BBC the technology, the Hywind, to be put off Norway's coast - "should help move offshore wind farms out of sight".
And it could lead to offshore wind farms eventually being located many miles offshore, away from areas where they cause disruption, Ms Gjorv added.
http://news.bbc.co.uk/2/hi/business/8085551.stm
 
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nnuut said:
Floating wind turbine launched


By Jorn Madslien
Business reporter, BBC News
999999.gif


_45873688_-14.jpg
Floating wind turbines can help shift offshore wind farms out of sight

The world's first floating wind turbine is to be towed out to sea this weekend. Statoil's Alexandra Beck Gjorv told the BBC the technology, the Hywind, to be put off Norway's coast - "should help move offshore wind farms out of sight".
And it could lead to offshore wind farms eventually being located many miles offshore, away from areas where they cause disruption, Ms Gjorv added.
http://news.bbc.co.uk/2/hi/business/8085551.stm
Click to expand...
Gonna need some LONG wires...:D
 
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Gas here went up a dime overnight..@ $2.39 now..At a 7-11 near the house..

I gassed up the Jag last night at a Shell Station will 93 octane (it burns ONLY premium)..$3.53/gal
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$2.399 around here, $2.459 for credit or debit!!! What a crock of Poo!:nuts: That's at a cheap station!

Gas prices above $2.60

The average cost of a gallon of gas rose for the 39th straight day and is up more than 27% during that time.

June 6, 2009: 12:12 PM ET


NEW YORK (CNNMoney.com) -- Gas prices continue to surge nationwide, and are now up more than 27% in the past seven
and a half weeks.​
The average cost of a gallon of regular gasoline rose 1.4 cents Saturday to $2.606, according to motorist group AAA. This is the thirty-ninth consecutive daily increase in the price of gas. In just the past week, prices have increased nearly 5%.
Prices were highest in the state of Michigan, at $2.92 a gallon, AAA reported. They were cheapest in South Carolina, at an average of $2.391 a gallon.

http://money.cnn.com/2009/06/06/news/economy/aaa_gas_prices/index.htm
 
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