Oil Slick Stuff

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$ 52.24 at 08:48 -.75 Drifting to the upside.:o

Now yer talkin'
01/16/2007 - Updated 8:04 AM ET
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Crude tumbles as Saudi's play down output cut
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</IMG>By Ciara Linnane, MarketWatch
NEW YORK (MarketWatch) -- Crude-oil futures tumbled early Tuesday after Saudi Arabia's oil minister said he believes there is no need for major oil producers to implement further production cuts, disappointing hopes that the Organization of the Petroleum Exporting Countries would intervene to prop up prices after recent sharp declines.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B96B1600F%2D62FB%2D4A6A%2DB89C%2D9AA0B31E1013%7D
 
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$51.36 at 12:56 -1.63 Broke $51, I can feel OPEC shivering from here!:D Do I hear $50?
http://www.nymex.com/lsco_fut_condet.aspx?product=CL&month=Feb&cmonth=G&year=7&currPrev=C

Saudi's comments send oil reeling

Oil prices fall below $52 a barrel; minister says curbed supply is working well and there's no need for an emergency OPEC meeting.

January 16 2007: 11:49 AM EST


LONDON (Reuters) -- Oil prices plunged more than $1.50 to below $52 a barrel Tuesday after Saudi Arabia's oil minister said OPEC production cuts were working well and there was no need for an emergency meeting of the producer group.
U.S. crude fell $1.60 to $51.39 a barrel, while Brent futures shed 76 cents to $52.36.
://money.cnn.com/2007/01/16/markets/bc.markets.oil.reut/index.htm?postversion=2007011611
 
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BP Failed to Emphasize Safety at U.S. Plants Before Deadly Explosion, Baker Panel Report Says
HOUSTON - British oil company BP failed to emphasize safety at its U.S. refineries before the 2005 Texas City explosion that killed 15, according to a report released Tuesday by an independent panel led by former U.S. Secretary of State James A. Baker III. The panel, in a statement summarizing its 300-plus page report on BP PLC's operations, said the company had made strides in personal accident prevention but came up short on the bigger picture. http://biz.yahoo.com/ap/070116/bp_plant_explosion.html?.v=11
 
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They'll have a hard time paying fines with prices like that. I hope they rat-holed all that cash they scalped from us all over the last couple years; or did they give it to a CEO or two?
 
Fivetears said:
They'll have a hard time paying fines with prices like that. I hope they rat-holed all that cash they scalped from us all over the last couple years; or did they give it to a CEO or two?
Click to expand...

Fivetears said:
Congrats on your Tracker position. :)
Click to expand...
I'm sure when a rat steals some cheese he hides it so he can finish it later!
About the Position on the Tracker, that has to be a TYPO!
If not, i'm sure it is a fleeting streak of blind luck.
:cool: What's that, I think I found some CHEESE?
Thanks
 
$51.31 at 16:15 +.10, Settle at close $51.21:D
http://www.nymex.com/lsco_fut_condet.aspx?product=CL&month=Feb&cmonth=G&year=7&currPrev=C

Auto execs see soaring gas prices

Industry leaders expect prices to hit $4 a gallon by 2015; see fuel economy standards rising.

January 16 2007: 4:31 PM EST


DETROIT (Reuters) -- U.S. auto executives are bracing for gas prices to more than double over the next decade and for sharply higher U.S. fuel economy standards - a step the industry has long resisted, according to an academic survey released Tuesday.
Gas prices will average slightly more than $4 a gallon by 2015 and just over $5 a gallon by 2020, according to the survey conducted by the University of Michigan Transportation Research Institute (UMTRI). (more)
http://money.cnn.com/2007/01/16/news/companies/autos_fuel.reut/index.htm?postversion=2007011616
 
Tuesday, January 16, 2007
KUWAIT (Reuters) - The United States won Saudi backing on Tuesday for a U.S. plan to stabilize Iraq, but Washington's Gulf ally said success depended on Baghdad tackling sectarian strife driving the country toward civil war.

http://aheadofthenews.com/
 
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This could be the real reason the Saudis are against an emergency oil cut for now. They want the US to send more troops to Iraq. They are terrified of Iran / Shiites and giving this concession to Rice was easy, since they are massively hedged anyway.

http://aheadofthenews.com/[/quote]

FEAR will nock the prices down every time!:D
 
I'll bet there's much wailing and gnashing of teeth from all the oil hedge fund investors. What will these financial powerhouses do to offset their gambled investment losses? Is this just looked at as an oil hedge DCA buying opportunity? One thing is for sure; Mr. Short Term U.S. Markets have the answers.
 
Hope they grit their teeth off to nubs. We need cheap energy to support our economy, it does effect the Market, but losses are short lived due to the positive results.:D
 
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