Oil Slick Stuff

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as of 18 jan in peach county i paid 1.86 a gallon
global warming sure has helped this winter

i'll just enjoy the winter here
 
01/17/2007 - Updated 12:11 PM ET
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Oil futures start to recover, trade off earlier lowsU.S. supply data on tap for Thursday; traders further analyze OPEC comments
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</IMG>By Myra P. Saefong, MarketWatch
SAN FRANCISCO (MarketWatch) -- Crude-oil futures regained some lost ground Wednesday afternoon, as traders weighed Saudi Arabia's apparent lack of support for another production cut against colder U.S. weather and uncertainty ahead of this week's data on petroleum supplies.
(more)
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B3A0684EE%2DE993%2D4511%2DA17D%2D9BBC7FE78C54%7D
 
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Like a kick in the teeth!

New Fed fear: Lower oil

Falling oil prices may not curb inflation but could spur growth, taking Fed rate cuts off the table.

By Chris Isidore, CNNMoney.com senior writer
January 17 2007: 3:51 PM EST


NEW YORK (CNNMoney.com) -- The drop in oil prices to the lowest level in 20 months has boosted some investors' hopes that a key ingredient of inflation is out the door, which has helped open the back door for lower interest rates.
That's one of the reasons a surprising jump in a key wholesale inflation gauge caused little stir in financial markets Wednesday, the day before the government's main gauge of inflation, the Consumer Price Index, is due. The wholesale inflation report came the same day that oil dipped near $50 a barrel - down some 35 percent from the record highs hit last summer, and the lowest point since May 2005. (more)


http://money.cnn.com/2007/01/17/news/economy/inflation_oil/index.htm?postversion=2007011715
 
$51.99 at 07:58 -.25
http://www.nymex.com/lsco_fut_condet.aspx?product=CL&month=Feb&cmonth=G&year=7&currPrev=C
01/18/2007 - Updated 7:59 AM ET
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Crude falls as IEA cuts demand forecast for 2007
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</IMG>By Ciara Linnane, MarketWatch
NEW YORK (MarketWatch) -- Crude-oil futures fell early Thursday after the International Energy Agency cut its outlook for demand for oil and its products in 2007, citing mild winter weather and a slowing U.S. economy among other factors.
(more)
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B6D516C56%2D899F%2D4AE8%2D8D77%2D99CB0CF2F313%7D
 
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01/18/2007 - Updated 11:17 AM ET
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Oil drops under $51 as supplies rise, demand slowsCrude supply up for first time in 8 weeks; IEA cuts oil-demand growth forecast
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</IMG>By Myra P. Saefong, MarketWatch
SAN FRANCISCO (MarketWatch) -- Crude-oil futures fell as much as 4% Thursday, sending their benchmark contract to a 20-month low after the U.S. Energy Department reported that crude supplies rose for the first time in eight weeks and the International Energy Agency cut its 2007 outlook for demand for oil and its products.
(more)

http://markets.usatoday.com/custom/...S&guid={6D516C56-899F-4AE8-8D77-99CB0CF2F313}
 
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$50.42 at 14:46 -1.82 Back up a tad! How low will she go?:D Settle at $50.48!

Oil plunges below $50 a barrel

Crude prices break key psychological mark, hitting 20-month low surge in oil inventories.

By David Ellis, CNNMoney.com staff writer
January 18 2007: 2:35 PM EST

NEW YORK (CNNMoney.com) -- Oil prices tumbled below $50 a barrel Thursday, reaching their lowest level since May 2005, following a government report that revealed a bigger-than-expected increase in U.S. crude inventories.
U.S. light crude for February delivery was trading down $1.89 to $50.35 a barrel on the New York Mercantile Exchange, having traded as low as $49.90, its lowest trading level since May 25, 2005.
http://money.cnn.com/2007/01/18/markets/eia_oil/index.htm?cnn=yes
 
What Will Falling Oil Prices Mean?


Last year, when oil was fetching more than $75 a barrel and Congress was thinking of slapping the industry with a windfall tax, the prospect of falling energy prices seemed as remote as Kim Jong Il winning the Nobel peace prize. China and India, with their booming economies, were supposed to consume every last drop of oil the world could produce, guaranteeing shortages for the rest of us. And with instability mounting in the Middle East as well as in major oil-producing countries like Nigeria and Venezuela, it was only logical to predict many years of tight supplies — and ludicrous profits for the ExxonMobils of the world.
For the petroleum industry, it's one more unwelcome sign that America just may get serious about kicking its oil habit.
http://www.time.com/time/nation/article/0,8599,1580307,00.html?cnn=yes
 
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Regular UL $1.82 to $2.15 a gallon 1-20-07 in Boiled Peanut!:D
AP
Pump Prices May Inch Down More
Saturday January 20, 2:45 am ET
By Madlen Read, AP Business Writer

Prices at the Pump Expected to Fall Further, but Drivers Shouldn't Hope for a Big Windfall

NEW YORK (AP) -- The headlines say oil prices have fallen 15 percent this year. Gas station receipts tell a different story -- the cost of filling 'er up has slipped from about $35 to $33. Big deal. The cost will probably drop further, but drivers shouldn't hope for a big windfall at the pump: there's a lot more that goes into gasoline prices than the current cost of crude oil.
http://biz.yahoo.com/ap/070120/gasoline_prices.html?.v=2
 
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