Oil Slick Stuff

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Gosh- "and if you want us to drill under those tight restrictions- we are sure going to need to keep those tax support programs and limited to no royalties on anything deep- you know- like in more than a foot of water. It's really costly you know to drill nowdays- especially if you are going to want to inspect our work or those subs that are registered from other countries. Please lighten up on the amount or quality of concrete we must pump in around our wells to seal also. you know with all these restrictions we will likely have to sit on those leases until oil hits $300/ barrel. What- you say we will just export this oil somewhere else--- no way-- it would not be patriotic unless it would be more profitable. Oh- and one more thing- you want redundancy in the BOP's like them Norwegians want- thats crazy- you know that blowouts are rare"
 
Someone please bring in the Sarcasim pumps..this one toilet is overflowing again..:rolleyes::suspicious:
 
James48843 said:
Gosh- "and if you want us to drill under those tight restrictions- we are sure going to need to keep those tax support programs and limited to no royalties on anything deep- you know- like in more than a foot of water. It's really costly you know to drill nowdays- especially if you are going to want to inspect our work or those subs that are registered from other countries. Please lighten up on the amount or quality of concrete we must pump in around our wells to seal also. you know with all these restrictions we will likely have to sit on those leases until oil hits $300/ barrel. What- you say we will just export this oil somewhere else--- no way-- it would not be patriotic unless it would be more profitable. Oh- and one more thing- you want redundancy in the BOP's like them Norwegians want- thats crazy- you know that blowouts are rare"
Click to expand...
Is this a response to a post or just your opinion?
Mine is that the POTUS is wrong again, words and no real action WHAT'S NEW?:nuts:
 
Oil drops below $98; pump prices fall over weekend

Drivers starting to see some relief as pump prices fall ahead of summer driving season



Sandy Shore, AP Business Writer, On Monday May 16, 2011, 4:01 pm EDT

Oil prices dropped Monday, a good sign for drivers who are finally seeing a little relief at the gas pump.
The average price for a gallon of regular fell 3 cents over the week to $3.955 nationally. That's still nearly 14 cents more than it was a month ago, according to AAA, Wright Express and the Oil Price Information Service.
Oil futures settled down 2.3 percent and gasoline futures dropped 4.7 percent Monday as investors returned their attention to weakening demand for gasoline in the U.S. Both contracts had gained slightly last week amid concerns that Mississippi River flooding could disrupt refineries and supplies in the Gulf region.
Oil is now down about 15 percent in May, while gasoline futures are about 14 percent lower. Those declines haven't yet reached the nation's gas stations, though Analysts say prices could fall as much as a quarter or more by Memorial Day.
That will help drivers as summer driving season nears, although they'll still pay more for gas than a year ago. For now, motorists in about two dozen states are paying above the national average. In 13 states the pump price tops $4 a gallon.
Oil prices soared about 35 percent from mid-February through the end of April on fears that supplies could be disrupted by uprisings in the Middle East and North Africa. Those fears have begun to abate as supplies continue to flow from the oil-rich region. http://finance.yahoo.com/news/Oil-d...05.html?x=0&sec=topStories&pos=2&asset=&ccode=
 
Oil hovers above $97 as euro gains on dollar

Oil above $97 in Europe as Portugal bailout, Greece aid talk helps euro against dollar





Pablo Gorondi, Associated Press, On Tuesday May 17, 2011, 8:22 am

Oil prices lingered above $97 a barrel Tuesday, as the approval in Brussels of a bailout for Portugal and talk of more help for Greece offset concerns that slowing U.S. economic growth could undermine demand for crude.
By early afternoon in Europe, benchmark crude for June delivery was down 2 cents to $97.35 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell $2.28 to settle at $97.37 on Monday.
In London, Brent crude for June delivery was up 36 cents to $111.20 a barrel on the ICE Futures exchange. http://finance.yahoo.com/news/Oil-h...43.html?x=0&sec=topStories&pos=3&asset=&ccode=
 
Oil Falls as Decline in U.S. Housing Starts Damps Economic Growth Optimism

By Mark Shenk - May 17, 2011 10:38 AM ET

Oil fell for a second day as U.S. housings starts dropped and industrial output stalled in April, damping optimism about the economic and fuel-demand outlook.
Crude slipped as much 1.6 percent after the Commerce Department said work began on 523,000 houses at an annual pace, down 11 percent from March. Production at factories, mines and utilities was unchanged, the Federal Reserve reported today. Yesterday, the dollar touched the highest level against the euro since March 29, reducing the appeal of commodities.
“The terrible housing numbers added to worries about the economy and demand destruction,” said Phil Flynn, vice president of research at PFGBest in Chicago. “We’re facing what could be the biggest washout since 2008, especially if the dollar continues to rally.”
Crude oil for June delivery dropped 60 cents, or 0.6 percent, to $96.77 a barrel at 10:20 a.m. on the New York Mercantile Exchange. Futures have risen 38 percent in the past year. http://www.bloomberg.com/news/2011-...decline-damping-economic-growth-optimism.html
 
By Claudia Assis and Sarah Turner, MarketWatch

SAN FRANCISCO (MarketWatch) — Oil futures declined 1% on Tuesday, extending losses as the dollar benefited from ongoing worries about European sovereign-debt issues and weak housing data brought back concerns about U.S. growth and oil demand.

Light, sweet crude for June delivery /quotes/comstock/21n!f:cl\m11 CLM11 -1.16% declined $1.30, or 1.4%, to $96.03 a barrel on the New York Mercantile Exchange.

Mississippi River continues to rise

The U.S. Army Corps of Engineers turns up the flow coming out of the Morganza spillway but this is only the beginning.

The dollar rose on “more concern about euro instability,” said Kyle Cooper, a managing director of IAF Advisors in Houston. A drop for housing starts also cast a pall on U.S. growth and in turn on the demand for oil, he added.
Money managers are still overwhelmingly betting that oil futures will rise, and if and when they start to sour on the trade “$90 is not out of the question to go back and test,” Cooper said. “If you get liquidation it could get pretty ugly.” http://www.marketwatch.com/story/crude-oil-futures-extend-loss-in-electronic-trade-2011-05-16
 
Gas holding at $3.69..

Had oil gone up any today or yesterday..the frickin gas prices would of went up another .10 before the COB...greedy bastards with their $10 Billion dollar profits:mad:
 
Futures Movers
May 17, 2011, 8:34 p.m. EDT
Oil futures gain as dollar declines

By Virginia Harrison, MarketWatch

SYDNEY (MarketWatch) — Crude-oil futures bounced off 12-week lows in electronic trading early Wednesday, as the U.S. dollar declined and encouraged buying in dollar-priced commodities. Light, sweet crude for June delivery /quotes/comstock/21n!f:cl\m11 CLM11 +0.88% advanced 86 cents, or 0.9%, to $97.77 a barrel on the New York Mercantile Exchange during Asian trading hours.


Oil had earlier closed out the North American session at its lowest level since Feb. 22. See report on U.S. moves in crude oil.
Weak housing data, which helped inflame concerns about U.S. demand levels, contributed to the downward price pressure on Tuesday, while a trade-group report showed a weekly rise in oil supplies.
The American Petroleum Institute (API) inventory report showed crude-oil supplies rose 2.7 million barrels in the week ended May 13. Gasoline stocks declined 676,000 barrels, and stockpiles of distillates down 2.8 million, the trade group said late Tuesday. http://www.marketwatch.com/story/oi...-declines-2011-05-17?link=MW_home_latest_news
 
Oil rises above $98 amid weaker dollar

Oil rises to above $98 in Europe amid mixed US crude supply report, weaker dollar






Pablo Gorondi, Associated Press, On Wednesday May 18, 2011, 8:04 am EDT

Oil prices rose above $98 a barrel Wednesday as the dollar weakened and a crude supply report showed mixed signs about U.S. demand.
By early afternoon in Europe, benchmark crude for June delivery was up $1.27 to $98.18 a barrel in electronic trading on the New York Mercantile Exchange. The contract lost 47 cents to settle at $96.91 on Tuesday.
In London, Brent crude for June delivery was up $1.14 to $111.13 a barrel on the ICE Futures exchange. http://finance.yahoo.com/news/Oil-r...21.html?x=0&sec=topStories&pos=6&asset=&ccode=
 
OPPS! If the Dollar contimues up, you know what that means!:sick:

May 18, 2011, 9:59 a.m. EDT
Dollar turns higher; comments check euro, sterling

Federal Reserve’s meeting minutes due for release later in session

By Deborah Levine and William L. Watts, MarketWatch
NEW YORK (MarketWatch) — The U.S. dollar turned up against most major currencies Wednesday, as the British pound weakened after minutes from a recent policy meeting were released and as European officials brought Greece’s sovereign-debt problems back into the spotlight.


http://www.marketwatch.com/story/do...ian-hours-2011-05-18?link=MW_home_latest_news
 
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