Oil Slick Stuff

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It appears that Supply and Demand are winning!:suspicious:

Nov. 9, 2011, 12:01 p.m. EST
Oil turns higher after bullish supply data
[h=2]All-around declines for crude, products turn prices around[/h]
By Claudia Assis, MarketWatch
SAN FRANCISCO (MarketWatch) — Crude-oil futures reversed higher Wednesday after a weekly government supply report showed surprise declines in crude and crude products inventories.
http://www.marketwatch.com/story/oil-off-three-month-high-on-euro-zone-worries-2011-11-09


 
Oil Poised for Longest Weekly Winning Streak Since 2009 in New York Trade

 By Yee Kai Pin - Nov 10, 2011 9:36 PM ETFri Nov 11 02:36:27 GMT 2011

Oil headed for a sixth weekly gain in New York, the longest run of increases since April 2009, as signs of U.S. economic growth countered concern that Europe’s debt crisis will worsen.

Crude was little changed after sliding as much as 0.4 percent. Prices are up 3.6 percent this week. The number of Americans filing applications for unemployment benefits fell to a seven-month low, a Labor Department report yesterday showed. Italy votes today on austerity measures to clear the way for a new government, amid yields on its sovereign debt near the highest since the birth of the euro. Brent’s premium to U.S. futures narrowed.
“There is a lot of uncertainty but due to technical strength, the market may try to test $100 anyway,” said Ken Hasegawa, a commodity-derivatives trading manager at broker Newedge Group in Tokyo. “Europe’s issues can’t be resolved very soon and will continue for a long time.” http://www.bloomberg.com/news/2011-...longest-weekly-winning-streak-since-2009.html
 
Why the delay, we need the oil now what are they thinking?:nuts:

Obama Delays Decision on Keystone XL
by Matthew V. Veazey
|
DownstreamToday Staff
|
Thursday, November 10, 2011

The U.S. Department of State announced Thursday afternoon that it will postpone making a decision on whether TransCanada's proposed Keystone XL Pipeline project is in the national interest until at least early 2013.
Under Executive Order 13337, the State Department can issue Presidential Permits for transborder pipelines projects that it deems are in the national interest. The department has led what it calls a "transparent, thorough and rigorous" review of TransCanda's permit application for the Keystone XL project, and the executive order directs the secretary of state or a designee to consult with at least eight other federal agencies. The pipeline would carry crude oil approximately 1,661 miles from Alberta's Oil Sands to refineries along the Texas GulfCoast.
This past summer, the State Department issued its Final Environmental Impact Statement (EIS) for the project under the National Environment Policy Act (NEPA). The agency found that the 36-inch-diameter pipeline would pose "no significant impacts" to most resources along the proposed route. Prior to Thursday's decision to delay making the national interest determination, the State Department accepted public comments during a 90-day review period. Click here for a timeline showing the agency's role in the permit review process.
Click to expand...
http://www.rigzone.com/news/article.asp?hpf=1&a_id=112560
 
The reason is that cheaper Oil would set his GREEN AGENDA back. He wants the price of Gas, Oil, Heating Oil to be so expensive that people will buy Electric cars, Solar Panels etc. no matter what the cost or how well they work, simple. :sick:
 
Don't you think it's about time, but there has been do planned delays. WHAT!!!!!:nuts:
Date Set for 1st GOM Lease Sale Post Macondo
by Robin Dupre
Rigzone Staff

Friday, November 11, 2011

Department of the Interior Secretary Ken Salazar and Bureau of Ocean Energy Management Director Tommy P. Beaudreau announced that BOEM will hold the first oil and natural gas lease sale in the Gulf of Mexico since the Deepwater Horizon accident in 2010. This oil and natural gas sale, Sale 218, trails BOEM’s completion of a supplemental environmental impact statement analyzing the effects of the Deepwater Horizon spill on the western Gulf of Mexico.
The last lease sale, WPA Gulf of Mexico Lease Sale 215, was cancelled on May 27, 2010. The Department of Interior said the cancellation allowed time to develop and implement measures to improve the safety of oil and gas development in federal waters. As well as provide greater environmental protection and substantially reduce the risk of catastrophic events.
http://www.rigzone.com/news/article.asp?hpf=1&a_id=112588


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America has GAS, and that ain't all!:toung:
Can America Use All This Natural Gas from Shale?
by Barbara Saunders
Rigzone Staff
Monday, November 07, 2011

America is swimming in natural gas from shale formations. It promises to be our bail-out from otherwise flat or falling gas supplies of other types – and provide important relief from our dependence on imported oil.
According to the U.S. Energy Information Administration (EIA), shale provided only about 14 percent of America's natural gas in 2009. That's poised to skyrocket to 46 percent in 2035. EIA statistics also show an astounding 862 trillion cubic feet (Tcf) in technically recoverable gas resources from shale.
"This is a marvelous opportunity," said John Felmy, chief economist for the American Petroleum Institute (API). "I think we'll be able to use it and there will be opportunities for LNG exports."
http://www.rigzone.com/news/article.asp?a_id=112435&hmp=1
Click to expand...
http://www.rigzone.com/news/article.asp?a_id=112435&hmp=1
 
Surprisingly; Gas is still holding pat at $3.17...I gotta feeling that's gonna change real soon.:suspicious:\

Funny how things work out as predicted..Remember when were saying that when gas went over $3.00/gal and then it would seem like a deal when it would came back to $3.00/gal if we were paying upwards of $3.50 or more...Now; $3.00/gal does sound pretty good.:notrust:
 
I remember saying they were to make us get used to $2.85 a gallon when it was about $1.90, now they are trying to do it get used to $3.25!
RATS!
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