Oil Slick Stuff

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API: US Oil Use Down 1.2% in 2011
by David Bird
Dow Jones Newswires
Friday, January 20, 2012


U.S. oil demand fell 1.2 percent to 18.9 million barrels a day last year, trade group American Petroleum Institute said Friday.
Early data from the federal Energy Information Administration issued Jan. 10 showed a 1.6 percent, or 310,000 barrels a day, drop to 18.87 million barrels a day. The International Energy Agency, the oil-market watchdog for the major industrialized nations, such as the U.S., that make up the Organization for Economic Co-operation and Development, this week estimated a decline of 1.8 percent, or 340,000 barrels a day, in U.S. demand, to 18.84 million barrels a day.
The API said its estimate for 2011 showed that, except for 2008, the drop in demand was the most in the last decade. December 2011 U.S. petroleum deliveries, a measure of demand, were down 5.9 percent from a year earlier, to a 15-year low of 18.6 million barrels a day.
http://www.rigzone.com/news/article.asp?hpf=1&a_id=114470
 
So now we see if Iran is all Talk and no Walk!:worried:

Europe Will Ban Iran Oil Imports from July

Q
By Jurjen van de Pol and Ewa Krukowska - Jan 23, 2012 6:45 AM ETMon Jan 23 11:45:54 GMT 2012

European Union foreign ministers agreed to ban oil imports from Iran starting July 1 as part of measures to ratchet up the pressure on the Persian Gulf nation’s nuclear program, Dutch Foreign Minister Uri Rosenthal said.
“As of July 1, we have a ban on the import of oil and oil products from Iran,” Rosenthal said in Brussels today. He said the EU was looking at ways to limit damage from the ban on countries like Greece that are dependent on the oil imports from Iran and that possible “compensation” would have to be decided before the full ban comes into force.
New contracts on oil imports from Iran and extensions of existing deals will be banned under the embargo, EU diplomats said. Shipments under agreements already in place can continue until the end of June. Diplomats said EU measures against Iran also include a freeze on Iranian central bank assets and a ban on petrochemical imports from May 1.
http://www.bloomberg.com/news/2012-01-22/european-union-likely-to-agree-on-iranian-oil-ban.html
 
jkenjohnson said:
What a ripoff. I guess the Keystone Pipeline is dead. That would have helped us a lot, from what I understand.
Click to expand...

Keystone pipeline isn't dead at all.
The problem is that the route isn't known yet (the company and the state of Nebraska are still researching and haven't yet proposed a final route), and therefore the proper Environmental Impact cannot be assessed.

Once a route is finalized, THEN the Environmental Assestment can be done.

Once the assestment is done, the pipeline can be approved.

That is what the State Department, and the President both said.

And that's what the Pipeline Company Exec said he was going to do- finalise the route, and submit a new application at the proper time.

http://finance.yahoo.com/blogs/dail...BzdGNhdANob21lBHB0A3NlY3Rpb25zBHRlc3QD;_ylv=3

" TransCanada CEO Russ Girling said the company "remains fully committed to the construction of Keystone XL" and "a new application would be processed in an expedited manner to allow for an in-service date of late 2014."
Click to expand...

But the benefactor of the pipeline won't be the American consumer.

The benefactor will be the Canadian Oil Company, and the U.S. refiners, who will be exporting their production now all over the world through the pipeline to the Gulf of Mexico.

Instead of the oil flowing to American consumers, it will now be able to be shipped overseas by ship from the distant end of the pipeline.

And that's a fact.
 
James48843 said:
Keystone pipeline isn't dead at all.
The problem is that the route isn't known yet (the company and the state of Nebraska are still researching and haven't yet proposed a final route), and therefore the proper Environmental Impact cannot be assessed.

Once a route is finalized, THEN the Environmental Assestment can be done.

Once the assestment is done, the pipeline can be approved.

That is what the State Department, and the President both said.

And that's what the Pipeline Company Exec said he was going to do- finalise the route, and submit a new application at the proper time.

http://finance.yahoo.com/blogs/dail...BzdGNhdANob21lBHB0A3NlY3Rpb25zBHRlc3QD;_ylv=3



But the benefactor of the pipeline won't be the American consumer.

The benefactor will be the Canadian Oil Company, and the U.S. refiners, who will be exporting their production now all over the world through the pipeline to the Gulf of Mexico.

Instead of the oil flowing to American consumers, it will now be able to be shipped overseas by ship from the distant end of the pipeline.

And that's a fact.
Click to expand...

I read a couple of days ago that Obama rejected Keystone. Boner is going to try and tie payroll tax cuts to EPA approval of the pipeline, which will fail miserably. I also read that the Canadians were considering routing it across Canada now and bypassing us. So I guess it depends on who and what you read.
 
jkenjohnson said:
I read a couple of days ago that Obama rejected Keystone. Boner is going to try and tie payroll tax cuts to EPA approval of the pipeline, which will fail miserably. I also read that the Canadians were considering routing it across Canada now and bypassing us. So I guess it depends on who and what you read.
Click to expand...
Obama is just sucking-up to the environmentalists and that's it.
 
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