Oil Slick Stuff

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With this proposal we would have to pay $.25 to $.40 more a gallon for Gasoline. That should create jobs, increase our Taxes and run us into inflation due to the cost of transportation of commodities passed down to the consumers. Typical stupidity, would not it be a better idea to wait until we recover from this economic emergency? :nuts:
Obama Highway Plan Fuels Talk of Gas Tax Hike

Published October 11, 2010
| FoxNews.com

In this Dec. 28, 2009, photo, gasoline prices are posted at a Shell service station in Boston. (AP Photo)

Two former transportation secretaries who recently co-chaired a panel that proposes gas tax hikes and user fees to pay for government transportation projects joined President Monday as he called for a $50 billion immediate investment in roads, rails and runways. [more]
http://www.foxnews.com/politics/201...ructure-pitch-renews-debate-raising-fuel-tax/
 
Oil falls to near $81 amid stimulus doubts

Oil falls to near $81 in Europe amid doubts over US economic stimulus plans


Harry Hatton, Associated Press Writer, On Tuesday October 12, 2010, 6:51 am EDT

Oil prices fell to near $81 a barrel Tuesday amid uncertainty about the U.S. central bank's plans to expedite economic recovery and expectations OPEC will hold production at current levels. [more]
http://finance.yahoo.com/news/Oil-f...12.html?x=0&sec=topStories&pos=1&asset=&ccode=
 
Oct. 12, 2010, 8:38 a.m. EDT
Oil futures extend losses; OPEC in focus

U.S. dollar gains vs. major rivals; gold futures also decline

By MarketWatch

NEW YORK (MarketWatch) — Crude-oil futures dipped Tuesday on signals that OPEC might hold production at current levels when the 12-nation organization wraps up a meeting later in the week. [more]
http://www.marketwatch.com/story/oil-falls-sharply-as-market-eyes-opec-2010-10-12
 
10/12/2010 - Updated 11:59 AM ET
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Crude futures extend losses as dollar strengthen As Energy traders digest OPEC data, await API inventories update
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By MarketWatch,
SAN FRANCISCO (MarketWatch) — Crude-oil futures declined Tuesday as the dollar strengthened and U.S. stocks opened lower, casting doubts about the prospective demand for oil. [more]
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B20854280%2DD5DB%2D11DF%2D9252%2D00212804637C%7D&loc=interstitialskip
 
If they do I expect Oil and Gas to drop along with a jump in employment numbers, should just about neutralize each other. The Pres realized he needs to do this in order to gain a few votes so he changed his original plan, I THINK!
Maybe NOT!
EXCERPT:
"The devil is in the details, as they say, and the industry hasn't seen the final requirements for what we would have to do to be able to actually get a permit issued," he added. "Until that is done, lifting the moratorium may be just a moot or perfunctory act. ... Right now, I'm skeptical that it will be anytime soon that permits will be issued even if the moratorium is lifted." :confused::suspicious::nuts:
http://news.yahoo.com/s/ap/us_obama_drilling_moratorium
 
It appears that it will be a while before Drilling will start up again, if I was Obama I would start it ASAP, ELECTIONS in November ya know.:confused:

Obama Administration Ends Deepwater Drilling Ban
EXCERPT:
"The government's top offshore drilling regulator, Michael Bromwich, separately told reporters that it is unlikely companies could resume drilling immediately, even when the moratorium is lifted. Mr. Bromwich, director of the Bureau of Ocean Energy Management, Regulation and Enforcement, said his agency will need to time to carefully vet companies' applications to ensure they comply with new safety and environmental regulations established since the April 20 explosion of the Deepwater Horizon oil rig and the subsequent oil spill in the Gulf of Mexico.
He emphasized that the pace of approvals will depend on the quality of companies' applications and whether they adhere to the new safeguards."
http://www.rigzone.com/news/article.asp?hpf=1&a_id=99963
 
~NOTICE~
:o​
Effective Friday the 15th of Oct 2010 I will no longer track Oil and Gas Futures on the Oil Slick Stuff Home Page (OSSHP). I hope to devote more time to the Oil Slick Stuff thread, with more information and discussions about the status of energy in general.​

Note: If someone cares to volunteer to take over the daily futures tracking and status on the OSSHP contact me and I'll turn it over.​
It's been a pleasure:D
Norman
oilrig2.gif​
 
10/14/2010 - Updated 10:29 AM ET
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Oil prices edge higher ahead of weekly dataNatural gas down 2%; heating oil, gasoline fall
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By MarketWatch,
SAN FRANCISCO (MarketWatch) -- Oil futures bounced between minor gains and losses Thursday ahead of weekly inventories data, with the commodity torn between a cheaper dollar and tepid signals from U.S. economic data. [more]
http://markets.usatoday.com/custom/...S&guid={DEA5F168-D78B-11DF-9252-00212804637C}
 
:(
US Shale Discovery Bonanza Is Over - Chesapeake CEO
by Ryan Dezember
|
Dow Jones Newswires
|
Thursday, October 14, 2010

Chesapeake's Chief Executive Aubrey McClendon said that most significant natural gas and oil shale fields in the U.S. have already been found, and that investors shouldn't hold their breath for major new discoveries. [more]
http://www.rigzone.com/news/article.asp?hpf=1&a_id=100024
 
10/14/2010 - Updated 1:36 PM ET
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Oil prices retreat following weekly data Natural gas pares loss after storage report
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By Wallace Witkowski, MarketWatch & Laura Mandaro, MarketWatch

This update corrects the gasoline inventories forecast from Platts.

SAN FRANCISCO (MarketWatch) — Oil futures gave up gains and fell into negative territory Thursday following the release of government data showing an unexpected drop in crude inventories and a rise in jobless claims.
Crude for November delivery fell 64 cents, or 0.8%, to $82.37 a barrel [CLX10] on the New York Mercantile Exchange. It had traded as high as $84.12 earlier.
The U.S. Department of Energy’s Energy Information Administration said Thursday that crude-oil inventories declined by 400,000 barrels from the previous week.
Late Wednesday, the American Petroleum Institute reported an unexpected decline in crude-oil inventories by 4 million barrels.
The EIA also reported that gasoline inventories declined by 1.8 million barrels, and distillate fuel inventories fell by 300,000 barrels. [more]
http://markets.usatoday.com/custom/...S&guid={DEA5F168-D78B-11DF-9252-00212804637C}
 
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