Oil Slick Stuff

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Viva La Migra said:
More interesting comments on the President's energy plan.

I'm for increasing ethanol production, but I want us to drill for our own oil here too! We can use our own oil while we perfect the alternative fuels.
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I'd go for that if the REAL price of ethanol was equal to or less than Gasoline. The subsidies are way out of line and the price of many commodities is being inflated due th the rising price of feed corn and corn products for human consumption.:cool:
 
03/30/2011 - Updated 1:35 PM ET
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Crude lower; supplies above expectations
Prices come off lows, however, after Obama speech on energy
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By Claudia Assis, MarketWatch

SAN FRANCISCO (MarketWatch) — Crude futures traded lower Wednesday, hit by a larger-than-expected U.S. inventories increase and as Venezuela emerged as another sticky point for the oil market.
Prices came off lows, however, as President Barack Obama outlined a plan to boost U.S. energy production and cut reliance on imports.
Crude for May delivery [CLK11] declined 20 cents, or 0.2%, to trade at $104.59 a barrel on the New York Mercantile Exchange. It had earlier traded as low as $103.44 a barrel.http://markets.usatoday.com/custom/...S&guid={CC95EDB8-5AD3-11E0-9F0E-00212804637C}
 
BHP First To Resume Drilling GOM Deep-Water Well
by Ryan Dezember
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Dow Jones Newswires
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Wednesday, March 30, 2011
NEW ORLEANS (Dow Jones Newswires), March 30, 2011
BHP Billiton began late Monday drilling a deep-water well in the Gulf of Mexico, the first such work to take place since the U.S. government banned deep-water drilling in response to last year's oil spill, reported the head of the conglomerate's oil and gas business.
Speaking to investors during the Howard Weil Energy Conference here, J. Michael Yeager said that a rig had moved onto its Shenzi prospect and resumed drilling a well there.
"We're back there drilling and we're delighted to be doing that but we're a long way from the five rigs we had when the moratorium hit," Yeager said.
The U.S. government instituted a six-month ban on deep-water drilling after Transocean's Deepwater Horizon, which was being leased by BP, exploded, killing 11 and unleashing the largest offshore oil spill in U.S. history. Even after the government's official ban was lifted in October, no drilling permits were issued by regulators until Feb. 28.
http://www.rigzone.com/news/article.asp?a_id=105618&hmpn=1
 
And>>>>>>:suspicious:
March 31, 2011, 10:12 a.m. EDT
Oil rises past $106 on Libya, weaker dollar

By Claudia Assis, MarketWatch
SAN FRANCISCO (MarketWatch) — Crude-oil futures on Thursday traded at their best in 30 months, reacting to news rebels in Libya lost ground to forces supporting the government and getting additional support from a weaker dollar.
Crude for May delivery /quotes/comstock/21n!f:cl\k11 (CLK11 106.27, +2.00, +1.92%) added $2.08, or 2%, to $106.37 a barrel on the New York Mercantile Exchange. It earlier traded as high as $106.77.

The dollar lost ground versus the euro and other major currencies after a report showed inflation in the euro zone rose more than expected, boosting expectations the European Central Bank will raise interest rates soon. Read more about currencies.
http://www.marketwatch.com/story/oil-rises-past-106-on-libya-weaker-dollar-2011-03-31
 
Oil climbs to highest since 2008 on Libya conflict

Oil rises above $106 a barrel as pro-Gadhafi forces push back rebels




On Thursday March 31, 2011, 12:30 pm
NEW YORK (AP) -- The price of oil rose to a 30-month high on Thursday as fighters loyal to Moammar Gadhafi pushed back rebels from key areas in eastern Libya.
Benchmark West Texas Intermediate crude rose $2 to $106.27 a barrel in midday trading on the New York Mercantile Exchange. At one point it hit $106.77, the highest it's been since September, 2008. In London, Brent crude rose $2.03 to $116.98 per barrel. http://finance.yahoo.com/news/Oil-c...html?x=0&sec=topStories&pos=main&asset=&ccode=
 
yeppers, gas prices around here already went up this afternoon. 6 cents on average at the stations I drive by in the morning and in the afternoon... dang these guys are leeches...
 
Been buying the cheap stuff so it doesn't hurt so much in my wallet, but my car is complaining... probably gonna have to filler up at a decent station this time...
 
RealMoneyIssues said:
Been buying the cheap stuff so it doesn't hurt so much in my wallet, but my car is complaining... probably gonna have to filler up at a decent station this time...
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Yeah..if you're buying the ethanoil mix (10%)..your mileage probably went down..so now you have to buy more gas sooner than if you used pure gas...So no savings at all...Plus Ethanoil is hard on the car's fuel system, that were made before 2009.
 
04/01/2011 - Updated 9:04 AM ET
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Oil futures break through $107 a barrel
U.S. jobs report, Libyan setbacks underpin crude’s move higher
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By Steve Gelsi, MarketWatch & Virginia Harrison, MarketWatch

NEW YORK (MarketWatch) — Crude-oil futures topped $107 a barrel Friday after a better-than-forecast U.S. jobs report for March, while reports of antigovernment forces losing ground in Libya added to geopolitical uncertainty about oil supplies.
Benchmark Nymex crude for May delivery [CLK11] gained 71 cents, or 0.7%, to stand at $107.54 a barrel, having broken through $107 earlier in the session.
Oil prices have surged more than 17% this year, with geopolitical instability across parts of North Africa and the Middle East stoking supply fears. http://markets.usatoday.com/custom/...S&guid={528E9036-5C1F-11E0-9F0E-00212804637C}
 
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