Oil Slick Stuff

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BAAAHHHHHHHHHHHAAAaaaaaaa!:mad: $63.04 at 09:18.
12/05/2006 - Updated 9:01 AM ET
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Crude oil prices rise above $63Dollar drop a concern to OPEC; natural-gas futures extend string of losses
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</IMG>By Tomi Kilgore, MarketWatch
NEW YORK (MarketWatch) -- Crude oil futures rallied Tuesday, with the front-month contract climbing back above $63 a barrel, as a falling U.S. dollar, which reduces exporter profits, increased the likelihood that the Organization of Petroleum Exporting Countries would cut production.

http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B18FFA638%2D84FA%2D4851%2D9312%2D2165C6C40587%7D
 
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Here they go again, being STUPID!:mad:
House leaders abruptly pull offshore drilling bill from floor

WASHINGTON (AP) -- House Republicans abruptly pulled from floor action Tuesday a bill to open a large area of the eastern Gulf of Mexico to oil and gas drilling after it became clear the legislation lacked the two-thirds vote needed for passage.
The ttp://www.cnn.com/2006/POLITICS/12/05/congress.roundup.ap/index.html
 
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nnuut said:
Here they go again, being STUPID!:mad:
House leaders abruptly pull offshore drilling bill from floor

WASHINGTON (AP) -- House Republicans abruptly pulled from floor action Tuesday a bill to open a large area of the eastern Gulf of Mexico to oil and gas drilling after it became clear the legislation lacked the two-thirds vote needed for passage.
..
Republicans leaders gave no reason for the decision,
http://www.cnn.com/2006/POLITICS/12/05/congress.roundup.ap/index.html
Click to expand...
I would have liked to have seen the list of earmarks on that bill, bet it was a doozy of a list with the democrats taking over soon. Bet many republicans were trying to get some last minute pork barrell welfare (i.e. benefits for their constituents that are totally unrelated to gas drilling) that will probably not be as easy (for them) to claim in the new congress. (Pork barrel will mostly go to the democrats now.)

The list was probably too "over the top" for even the current crop of legislators. Amazing what we as citizens are not privy to knowing. Failure of this bill might of actually been some congressmen trying to show some ethics. I am of course totally speculating - we will (probably) never know.
 
I think you are probably right! That is the system we have to live with. OR the Dems killed it so they can pass their own and even give more of our money away (revenge is sweet). The oil is there and on the Atlantic coast, Alaska, what are they saving it for?:nuts:
 
Which harms our economy more-- barrel o'pork or barrel o'lube? Is the failure to exploit our reserves really a failure, or a long term strategic play? How much will a barrel of oil cost when the gulf has nukes? Gold speculators call for $1500/z in june '07 because of Iran.
 
:mad:

Oil rises on surprise drop in gasoline, oil supply

Traders concerned with decline of supplies ahead of winter; OPEC meeting eyed.

By Steve Hargreaves, CNNMoney.com staff writer
December 6 2006: 11:22 AM EST


NEW YORK (CNNMoney.com) -- Oil prices rose Wednesday, turning around after after the government said gasoline and crude supplies showed a surprise decline.
U.S. light crude for January delivery rose 12 cents to $62.65 a barrel on the New York Mercantile Exchange. Oil had traded down 18 cents just prior to the report's release.
http://money.cnn.com/2006/12/06/markets/oil_eia/index.htm?postversion=2006120611
 
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$61.86 a barrel at 09.45 EST-------$62.29 at 11:23 EST Wohaa Down Boy!

12/07/2006 - Updated 8:38 AM ET
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Crude oil prices set to bounceNatural-gas futures extend rebound ahead of supply data
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</IMG>By Tomi Kilgore, MarketWatch
NEW YORK (MarketWatch) -- Crude oil futures rose Thursday, looking to halt a three-session slide, as traders shifted their focus away from oversupply concerns to likely production cuts.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B9FA60E48%2D507E%2D459F%2DB46A%2DDA916920A442%7D
 
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And just who's idea is this?:mad: $62.49 at 14:46!
MARKET UPDATE
2:30 pm : The indices finally break out of their tight trading ranges, but to the disappointment of the bulls, it's to the downside. Some short covering in crude oil futures heading into the close of trading on the NYMEX has been the most obvious impetus behind the renewed wave of selling interest. Crude for January delivery is now up 0.6% near its session highs at $62.60/bbl. Adding insult to injury has been the inability by refiners, drillers and explorers the to take notice as the Energy sector is still among today’s biggest laggards (-0.5%).DJ30 -27.88 NASDAQ -9.98 SP500 -3.46 XOI -0.2% NASDAQ Dec/Adv/Vol 1555/1411/1.45 bln NYSE Dec/Adv/Vol 1600/1577/956 mln
http://finance.yahoo.com/marketupdate/overview
 
$63.36 a barrel at 08:24. :mad: $63.35 at 09:35 --- $63.53 at 11:37 --- $62.17 at 14:07.

Oil jumps above $63 as traders eye OPEC

Top producers will meet next week to decide whether to cut output; Saudis voice support for stability.

December 8 2006: 6:06 AM EST


LONDON (Reuters) -- Oil prices climbed above $63 on Friday, extending the previous session's modest gain but staying in a tight range ahead of a meeting of top producers next week to decide whether to cut output again.
U.S. crude for January delivery jumped 73 cents to $63.22 a barrel in electronic trading. London Brent crude rose $1.13 to $63.70.
http://money.cnn.com/2006/12/08/markets/oil.reut/index.htm?postversion=2006120806
 
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