Oil Slick Stuff

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It would be a good idea if Ms. Merkel would keep her BIG MOUTH shut!:nuts:
Dec. 13, 2011, 11:16 a.m. EST​
Dollar gains vs. euro after Merkel comments

Investors await Federal Reserve statement on rates, monetary policy

By Deborah Levine and Polya Lesova, MarketWatch

NEW YORK (MarketWatch) — The dollar turned up against the euro on Tuesday following reports that German Chancellor Angela Merkel frowned upon the notion of increasing the size of Europe’s permanent bailout fund.
http://www.marketwatch.com/story/dollar-pares-gains-ahead-of-fed-decision-2011-12-12​

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Here we go again!
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Iranian Official Threatens Military Drill Sealing Off the Strait of Hormuz


Published December 13, 2011
| FoxNews.com
  • IranShip.jpg

    Reuters
    April 2010: An Iranian warship and speed boats take part in a naval war game in the Persian Gulf and the Strait of Hormuz, southern Iran.
A high-ranking Iranian official has said Iran's military will practice sealing off the Strait of Hormuz, the world’s most important oil transport channel, in a provocative move that illustrates Iran’s capability of disrupting the world’s oil supply.
The announcement Monday by Parviz Sarvari sent oil prices up about $3 to $100 a barrel based on the speculation of a disruption during the military drills,



Read more: http://www.foxnews.com/world/2011/1...rill-sealing-off-strait-hormuz/#ixzz1gRRqhdg1
 
Did OPEC raise or stand pat on oil production?

December 14, 2011, 11:56 AM
The Organization of the Petroleum Exporting Countries on Wednesday officially decided to “maintain” its current production level of 30 million barrels per day, including production from Libya.
But is the cartel really maintaining output or legitimizing over production?
OB-QZ622_opecme_C_20111214054329.jpg
Associated Press​
After all, if you consider the official quota target, at least from the last time it was set, that 30 million barrels per day seems a little high, although it does include all 12 members, whereas the quotas had excluded Iraq’s output.
The cartel couldn’t reach an agreement on individual quotas at the last meeting June of this year, so the default was essentially to leave those quotas alone. OPEC, for its part, hadn’t officially made changes to its production quotas since it implemented a cut to actual output in January 2009, effectively setting them at 24.845 million barrels per day for 11 of its 12 members.
Don’t try to double check that on the OPEC web site. The cartel hasn’t updated its “Member countries’ crude oil production allocation” chart since November 2007. http://blogs.marketwatch.com/thetell/2011/12/14/did-opec-raise-or-stand-pat-on-oil-production/
 
PwC: Shale Resources May Spark U.S. Manufacturing Boom
PwC
|
Wednesday, December 14, 2011




The abundance of shale gas resources may spark a U.S. manufacturing renaissance with economic benefits that include cost savings, greater investments to expand U.S. manufacturing facilities and increased levels of employment, according to a new report released today by PwC titled, Shale Gas: A renaissance in US manufacturing?.
To achieve these results, however, PwC says that manufacturers must help manage the environmental, regulatory and tax concerns created by shale gas resources.
PwC expects an estimated $11.6 billion in cost savings by 2025 by combining recent natural gas consumption levels with potential natural gas prices under high shale recovery scenarios. Additionally, manufacturing employment could increase by approximately one million workers by 2025 in high shale recovery scenarios.
“An underappreciated part of the shale gas story is the substantial cost benefits that could become available to manufacturers based upon estimates of future natural gas prices as more shale gas is recovered,” said Bob McCutcheon, U.S. industrial products leader, PwC.
http://www.rigzone.com/news/article.asp?a_id=113368&hmpn=1
 
AH HA!:nuts:
[h=1]Another reason for gold, oil plunge: missing MF Global funds?[/h]December 14, 2011, 5:31 PM
One of the head scratchers about Wednesday’s trading was that oil and gold were falling so steeply, easily outpacing the decline in stocks.
Credit strategist Abdullah Karatash offers this for the drop in currencies and commodities “on a day with otherwise light trading volumes?”
The first reason is that investors likely bailed out of risky managed futures funds on the heels of the ongoing MF Global missing money story.
http://blogs.marketwatch.com/thetel...-for-gold-oil-plunge-missing-mf-global-funds/
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Keystone Pipeline Should Not Be Delayed Any Longer
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This position has frustrated the Canadians who are eager to get started immediately. According to an article in the Washington Times, they are so eager that they have agreed to move the route of the pipeline to avoid the sensitive areas thereby removing any obstacles. Also, the New York Times reports that the US State Department has given the green light to the project saying that the pipeline would have minimal effect on the environment. Yet, because the United States' delay, Bloomberg reports that Canada is courting Asian countries to send their oil to instead. If this should occur, it would be a tremendous blow to our nation.

http://news.yahoo.com/keystone-pipeline-not-delayed-longer-191900699.html
 
Buster said:
Keystone Pipeline Should Not Be Delayed Any Longer
​

This position has frustrated the Canadians who are eager to get started immediately. According to an article in the Washington Times, they are so eager that they have agreed to move the route of the pipeline to avoid the sensitive areas thereby removing any obstacles. Also, the New York Times reports that the US State Department has given the green light to the project saying that the pipeline would have minimal effect on the environment. Yet, because the United States' delay, Bloomberg reports that Canada is courting Asian countries to send their oil to instead. If this should occur, it would be a tremendous blow to our nation.

http://news.yahoo.com/keystone-pipeline-not-delayed-longer-191900699.html
Click to expand...
I heard a rumor on TV that the Senate Creeps might bend and pass the Payroll Tax bill that passed the House. I just hope it's true because the price of energy gone wild could stop this country dead it its tracks. We need that Pipeline and more. Who in their right mind would purposely delay this thing until 2013, only an idiot, yes I said IDIOT!!
 
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