Oil Slick Stuff

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02/03/2011 - Updated 9:59 AM ET
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Oil gains on macro data, Egypt violence
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By Claudia Assis, MarketWatch

SAN FRANCISCO (MarketWatch) — Crude-oil futures rose Thursday after reports showed a drop in jobless claims and a rise in U.S. productivity, and gunfire erupted in Egypt as clashes turned yet more violent.
Crude for March delivery [CLH11] added 36 cents, or 0.4%, to $91.24 a barrel on the New York Mercantile Exchange. http://markets.usatoday.com/custom/...S&guid={FEB1914C-2FA1-11E0-A2FA-00212804637C}
 
Shell: No Beaufort Sea drilling in Arctic for 2011​


U.S. Sen. Mark Begich, D-Alaska, blamed the Obama administration and the EPA.

"Their foot dragging means the loss of another exploration season in Alaska, the loss of nearly 800 direct jobs and many more indirect jobs," Begich said. "That doesn't count the millions of dollars in contracting that won't happen either at a time when our economy needs the investment."

http://news.yahoo.com/s/ap/20110204/ap_on_re_us/ak_arctic_offshore_drilling_shell_4
 
If We The People can sweep the whiney enviromentalist naysayers under the rug of history, for good by getting honest politicians in office and discrediting for good the lying mouths of the MSM (they are doing this job pretty well on their own).

THEN - we will enter a new era of energy independence and prosperity by drilling here and using our own vast resources of petroleum. Drilling here = JOBS.

Seeing the Obama and followers are dead set against drilling and pander to the whiney envirogreendreamers I can also surmise they are against JOBS and PROSPERITY in my America.

Time for real Hope and Change in this country. Drill and drill now!
 
02/04/2011 - Updated 9:53 AM ET
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Oil rises past $91 on jobs, Egypt concerns
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By Laura Mandaro, MarketWatch

SAN FRANCISCO (MarketWatch) — Crude-oil futures rose Friday and headed for a 2% weekly gain, as investors trained their focus on the eleventh day of protests in Egypt and a drop in the U.S. jobless rate.
Oil for March delivery [CLH11] rose 71 cents, or 0.8%, to $91.24 a barrel on the New York Mercantile Exchange.
Crude futures strengthened after the Labor Department reported the January unemployment rate fell unexpectedly to 9% in January, a 21-month low, though employers only added 36,000 jobs last month. Read more on jobs, unemployment rate.http://markets.usatoday.com/custom/...-11E0-A2FA-00212804637C}&loc=interstitialskip
 
Most of our imports of oil come from Canada and Mexico.

The problem is, the Middle East oil producers use U.S. crude prices.

As long as they are the dominant producers in the world, Middle East oil supply fluxes will wag the U.S. oil price, no matter where we get our supplies from. :mad:
The sooner we can get off the oil price train, the better off we are - I happen to favor natural gas for cars, but that's me.
 
Silverbird said:
The sooner we can get off the oil price train, the better off we are - I happen to favor natural gas for cars, but that's me.
Click to expand...

Not sure if its true but I read that Obama has rejected 104 drilling permits.

If true, This is refusing to create JOBS, silverbird.

And we could easily become the #1 dominant producer of oil.

Its would seem to be pure foolishness to fail to drill here at yet the gov continues to pursue this illogcial path.

I can only assume this is then for another reason, to weaken the USA and promote a global goverance. And if so we have traitors in our very midst.
 
I like natural gas myself, one of the things that might work. The problem is we don't have the infrastructure for distribution and there are big environmental problems with fracture drilling and water contamination, and safety concerns with aged equipment being used to pipe the product across the US. Until we can actually develop and use anything to replace oil and coal it actually has to WORK. In the mean time we need to promote and use what we have and can actually use RIGHT NOW.
 
02/04/2011 - Updated 12:32 PM ET
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Oil lower after U.S. said to pressure Mubarak
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By Claudia Assis, MarketWatch & Laura Mandaro, MarketWatch

SAN FRANCISCO (MarketWatch) — Crude-oil futures turned lower Friday, pressured by declining U.S. equities, a rising dollar and reports that the U.S. government may be pressuring Egyptian President Hosni Mubarak to resign.
Oil for March delivery [CLH11] lately declined $1.60, or 1.8%, to $88.86 a barrel on the New York Mercantile Exchange. http://markets.usatoday.com/custom/...S&guid={E37DA3B0-306A-11E0-A2FA-00212804637C}
 
FAB1 said:
Not sure if its true but I read that Obama has rejected 104 drilling permits.

If true, This is refusing to create JOBS, silverbird.

And we could easily become the #1 dominant producer of oil.

Its would seem to be pure foolishness to fail to drill here at yet the gov continues to pursue this illogcial path.

I can only assume this is then for another reason, to weaken the USA and promote a global goverance. And if so we have traitors in our very midst.
Click to expand...
We can only hope that in 2012 we will have President that believes in America first and bows to no one.
 
Even though the drilling ban has been lifted Drilling has stopped because the Administration refuses to approve Drilling permits, this has gone on way too long. It's not just the Gulf of Mexico, it's almost everywhere, Safety concerns my BUTT!:nuts:

JANUARY 3, 2011
Drilling Is Stalled Even After Ban Is Lifted By

BEN CASSELMAN And DANIEL GILBERT

More than two months after the Obama administration lifted its ban on drilling in the deep-water Gulf of Mexico, oil companies are still waiting for approval to drill the first new oil well there. Experts now expect the wait to continue until the second half of 2011, and perhaps into 2012.
http://online.wsj.com/article/SB10001424052970204204004576050451696859780.html
 
Buster said:
We can only hope that in 2012 we will have President that believes in America first and bows to no one.
Click to expand...

More than that we need a Congress and Senate of wise and true patriots that do the will of the People, not $greedmongering$ decievers in the back pockets of international interests.

Now let me tell it like it is! :D
 
Pump prices likely to rise with Egypt unrest

Retail gasoline prices likely to go higher as tensions in Egypt and Middle East continue


Sandy Shore and Chris Kahn, AP Business Writer, On Friday February 4, 2011, 1:09 pm EST

Retail gasoline prices are likely to creep higher as anti-government protests continue in Egypt and concerns remain about the stability of the Middle East.
The national average for a gallon of regular gasoline was $3.124 on Friday, according to AAA, Wright Express and the Oil Price Information Service. That's up 2.4 cents in the past week. Analysts expect prices to stay at $3 a gallon or higher -- perhaps rising as much as 8 cents over the next two weeks -- until the conflict in Egypt is resolved and tensions ease in neighboring countries.
http://finance.yahoo.com/news/Pump-...50.html?x=0&sec=topStories&pos=1&asset=&ccode=
 
Futures Movers
Feb. 7, 2011, 9:19 a.m. EST
Crude-oil futures fall below $89 a barrel

Traders keep an eye on the uncertain situation in Egypt

By Steve Gelsi, MarketWatch

NEW YORK (MarketWatch) — Crude-oil futures edged lower Monday, as traders kept an eye on the uncertain political situation in Egypt.
Crude oil for March delivery fell 47 cents to $88.56 a barrel in electronic trading on Globex.
The contract earlier hit an intraday high of $89.54 a barrel.
http://www.marketwatch.com/story/crude-oil-futures-fall-below-89-a-barrel-2011-02-07?dist=beforebell
 
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