Oil Slick Stuff

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James48843 said:
Good questio Fab1-

Who ARE you going to believe?
Click to expand...

Lol! :laugh::laugh:

Well, I do have some advice in this area if anyone would care to hear it...

Some things you just put on a shelf, so to speak.

Time will usually reveal the what was right or wrong.
 
Snopes shares the current Administrations Agenda, I'd take their criticisms with a drop of oil.:laugh:

01/31/2011 - Updated 3:14 AM ET
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Crude-oil prices rise in Asian trading
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By Lisa Twaronite, MarketWatch

TOKYO (MarketWatch) — Crude-oil prices climbed Monday, as investors feared that unrest in Egypt would continue and possibly spread elsewhere, affecting supplies in the region.
March Nymex crude-oil futures were up 20 cents at $89.54 a barrel on Globex in Asian afternoon trading hours.http://markets.usatoday.com/custom/...-11E0-A2FA-00212804637C}&loc=interstitialskip
 
01/31/2011 - Updated 10:31 AM ET
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Crude-oil prices pull back; natural gas rallies
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By Myra P. Saefong, MarketWatch & Lisa Twaronite, MarketWatch

SAN FRANCISCO (MarketWatch) — Crude-oil prices edged lower Monday morning in New York, pulling back from a high near $91 per barrel as traders showed relief that turmoil in Egypt hasn’t spread to other parts of the Middle East.
Natural gas, meanwhile, headed higher as cold weather buoyed demand.
Crude for March delivery [CLH11] were down 55 cents, or 0.6%, at $88.79 a barrel on the New York Mercantile Exchange, pulling back from an earlier high of $90.92.
http://markets.usatoday.com/custom/...S&guid={2FD1CA3C-2D0C-11E0-A2FA-00212804637C}
 
01/31/2011 - Updated 11:54 AM ET
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Crude oil turns higher; natural gas rallies
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By Claudia Assis, MarketWatch & Myra P. Saefong, MarketWatch

SAN FRANCISCO (MarketWatch) — Crude-oil prices turned higher Monday, buoyed by rising equities and a weaker dollar, as traders showed relief that turmoil in Egypt hadn’t spread to other parts of the Middle East over the weekend.
Natural gas, meanwhile, rallied nearly 2% as cold weather in key consuming areas in the U.S. spurred buying on expectations of higher demand in the short term.
Crude for March delivery [CLH11] was up 75 cents, or 0.9%, at $90.13 a barrel on the New York Mercantile Exchange, surpassing the $90-a-barrel mark for the first time in 12 days.http://markets.usatoday.com/custom/...S&guid={2FD1CA3C-2D0C-11E0-A2FA-00212804637C}
 
Oilman: Bakken holds 20 billion barrels of oil:D

By JAMES MacPHERSON - Jan 20, 2011 5:26 PM ET
By The Associated Press

BISMARCK, N.D. (AP) — Billionaire oilman Harold Hamm told North Dakota bankers on Thursday that government estimates of recoverable oil in the Bakken and Three Forks formations are too conservative.
Hamm, 64, chairman and chief executive officer of Continental Resources Inc., said the formations in North Dakota and Montana hold about 20 billion barrels of recoverable crude, or about five times the amount previously estimated by federal geologists. The formations also hold the natural gas equivalent of 4 billion barrels of oil, he said.
"This is something that is totally incredible," Hamm told about 200 bankers who had gathered in Bismarck for a conference. "Everywhere you look the Bakken is front and center."
http://www.bloomberg.com/news/2011-01-20/oilman-bakken-holds-20-billion-barrels-of-oil.html
 
Buster said:
I guess that was the "SOME" Mr Snopes/wikiboy was speaking of...:D
Click to expand...

5 billion, or even 20 billion, is a far, far different thing than 2 trillion.

Here is what a billion dollars in $100 dollar bills would look like:
pallet_x_10.jpg


Think of 5 of these. That's what the Dept of Energy consensus number is. About 5.

Or even maybe, 20 of those, if you believe your one oilman who says there is more. OK., we'll give him the benefit of the doubt. But even at 20 billion, that's hardly 4 years worth of imported oil, IF we could figure out how to extract all 20 billion barrels. Nice, but not enough for perpetuity, for sure.


Now here is what one TRILLION dollars in $100 bills would look like:
pallet_x_10000.jpg



Your original e-mail said 2 trillion barrels of oil.

think of 2 of those, compared to the first pic.

Big difference.
 
shhhhh, it's the last best place.

you don't really want to do that right now do you?

it's not worth enough yet.

booyah.
 
02/01/2011 - Updated 9:06 AM ET
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Crude futures fall back after run past $92 markMarch contract drops 1%
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By Steve Gelsi, MarketWatch

NEW YORK (MarketWatch) — Crude-oil futures fell back toward $91 a barrel Tuesday, with energy traders catching their breath on the heels of the price having sprinted to the highest level seen in about 27 months.http://markets.usatoday.com/custom/...-11E0-A2FA-00212804637C}&loc=interstitialskip
 
02/01/2011 - Updated 1:13 PM ET
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Oil below $92; Mideast supply concerns easeCrude slips; analysts expect rise in last week’s U.S. supply
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By Myra P. Saefong, MarketWatch & Steve Gelsi, MarketWatch

SAN FRANCISCO (MarketWatch) — Crude-oil futures fell back below $92 a barrel Tuesday, with traders seemingly convinced, for now, that supplies from the oil-rich Middle East won’t be disrupted by protests in Egypt and a government shake-up in Jordan.
Energy traders were also catching their breath on the heels of a Monday rally that pushed crude prices to the highest level seen in about 27 months.
Crude for March delivery [CLH11] fell 55 cents, or 0.6%, to $91.64 a barrel on the New York Mercantile Exchange, pulling back after tapping a high of $92.45.http://markets.usatoday.com/custom/...S&guid={C3F9F64C-2E08-11E0-A2FA-00212804637C}
 
02/02/2011 - Updated 9:07 AM ET
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Oil futures rise ahead of U.S. supplies dataMarch contract reclaims $91 a barrel; traders keep eyes on Egypt
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By Steve Gelsi, MarketWatch

NEW YORK (MarketWatch) — Crude-oil futures turned higher Wednesday, reversing off an earlier bout of mild weakness, as investors awaited the latest weekly figures on U.S. petroleum inventories from the Energy Information Administration.
Light sweet crude for March delivery [CLH11] rose 30 cents to $91.07 a barrel
http://markets.usatoday.com/custom/...-11E0-A2FA-00212804637C}&loc=interstitialskip
 
Oil hovers below $91 as US crude supplies jump

Oil hovers below $91 in Europe on report of rising US crude inventories, Egypt uncertainty


Pablo Gorondi, Associated Press, On Wednesday February 2, 2011, 8:12 am EST


Oil prices hovered below $91 a barrel Wednesday as markets kept an eye on developments in Egypt and a report showed U.S. gasoline and crude supplies rose more than expected last week, suggesting the recovery in demand remains uneven.
By early afternoon in Europe, benchmark crude for March delivery was down 19 cents at $90.58 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell $1.42 to settle at $90.77 a barrel on Tuesday.
In London, Brent crude was unchanged at $101.65 a barrel on the ICE Futures exchange. It rose as high as $102.04 earlier in the session.
http://finance.yahoo.com/news/Oil-h...01.html?x=0&sec=topStories&pos=2&asset=&ccode=
 
02/02/2011 - Updated 11:38 AM ET
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Oil futures rise as clashes in Egypt worsenBenchmark contract reclaims $91 a barrel
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By Steve Gelsi, MarketWatch

SAN FRANCISCO (MarketWatch) — Crude-oil futures rose Wednesday, reversing an earlier trend of small losses and gains, with protests in Egypt taking a more worrying turn as friends and foes of the regime clashed.
Light sweet crude for March delivery [CLH11] rose 56 cents, or 0.6%, to $91.31 a barrel after barely adding single digits earlier. It traded as low as $90.40 a barrel. http://markets.usatoday.com/custom/...S&guid={1737D1E4-2ED1-11E0-A2FA-00212804637C}
 
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