Oil Slick Stuff

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Oil inventories DOWN!

March 21, 2012, 5:03 p.m. EDT
Oil gains on surprise weekly supply decline

Natural gas ends higher ahead of Thursday inventories report

By Claudia Assis and Michael Kitchen, MarketWatch
SAN FRANCISCO (MarketWatch) — U.S. crude-oil futures rose Wednesday after a weekly government report showed a surprise decline in inventories, and prices gathered more steam as the end of floor trading approached.
Crude for May delivery -2.11% the new front-month contract, advanced $1.20, or 1.1%, to end at $107.27 a barrel on the New York Mercantile Exchange. Oil has settled higher for three of the past four sessions.
The Energy Information Administration said crude inventories declined 1.2 million barrels in the week ended March 16. Analysts polled by Platts had forecast an increase of 2.1 million barrels for the week.
http://www.marketwatch.com/story/oil-gains-as-inventories-rise-dollar-eases-2012-03-21
 
He knows he might get a few votes by changing his mind, now it's his idea!:rolleyes:
March 22, 2012, 12:34 p.m. EDT
Obama fast-tracks approval of pipeline

By Greg Robb and Steve Goldstein, MarketWatch
WASHINGTON (MarketWatch) — President Barack Obama on Thursday fast-tracked approval of an oil pipeline, continuing a nationwide tour to promote his energy policies with gasoline prices on the rise.
Speaking in Cushing, Okla., in front of stacks of empty pipes, Obama repeated that while domestic oil and gas production is on the rise, it’s not enough to lower gasoline prices because the U.S. imports much of the oil it consumes.
As part of his remarks, Obama announced his administration will clear the way for TransCanada Corp. +1.21% to build the southern portion of the Keystone XL pipeline, from Cushing to the Gulf of Mexico, where several refineries are located.
Obama fast-tracks approval of pipeline - MarketWatch
 
FireWeatherMet said:
Norm,
You're pulling this story from the most "misleading" news source out there.
Can you find a similar story from a more neutral and factual news outlet?
Click to expand...

Hey Clint, why don't you start your own oil thread and post whatever you want instead of backseat driving Norm's thread? ..... Go ahead, make my day. :D
 
My point exactly! Good to know you follow the sources of your sources:nuts:. Just sad that there is not better journalism these days!
 
Obomer arrived in OKC last night about 9 pm at Tinker AFB..He spent today at Cushing OK..Don't know what all was done/said there, but I'm betting it was about oil, etc..I'll find out sooner or later what went down..Good news is; he left later in the day here on OUR AF-1
 
Buster said:
Obomer arrived in OKC last night about 9 pm at Tinker AFB..He spent today at Cushing OK..Don't know what all was done/said there, but I'm betting it was about oil, etc..I'll find out sooner or later what went down..Good news is; he left later in the day here on OUR AF-1
Click to expand...
This is why he was there:
http://www.tsptalk.com/mb/day-day-market-talk/2848-oil-slick-stuff-1176.html#post354673
By the way this is one part of the XL pipeline that doesn't have to have the President's approval, they have already started it, now Obama is behind it. What they really need to do is build a pipeline from Cushing to the North East Coast so the refineries don't have to buy Brent Crude, that would make the price of oil drop and stop the problem they have with refineries closing there. IMHO
 
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Think Natural Gas, so more Oil will not effect the price of Oil, it's clear that it did MAKE the price of Natural Gas fall like a rock, what is the difference?
:blink:
USA Today!Supply glut makes natural gas prices lowest in a decade

By Chris Kahn, Associated Press


NEW YORK–The price of natural gas dropped to the lowest level in a decade Wednesday as a mild winter comes to a close with a huge surplus of gas on hand.

Natural gas supplies typically drop in winter as homes and business crank up the heat. But relatively warm temperatures, combined with a boom in production, has left storage facilities with more gas than normal.
The government said last week that supplies were 45% larger than average for this time of year. Its latest report will be released Thursday. Natural gas futures fell 4.7 cents to $2.309 per 1,000 cubic feet in New York. That's the lowest price since Feb. 25, 2002.
Independent commodities trader Stephen Schork said natural gas could drop even further in coming weeks, possibly below $2 per 1,000 cubic feet, if demand declines as usual.
"There's just too much out there," Schork said. "And there won't be enough demand out there to solve the supply issue this summer."
Supply glut makes natural gas prices lowest in a decade
 
Buster said:
Obomer arrived in OKC last night about 9 pm at Tinker AFB..He spent today at Cushing OK..Don't know what all was done/said there, but I'm betting it was about oil, etc..I'll find out sooner or later what went down..Good news is; he left later in the day here on OUR AF-1
Click to expand...

More:
President arrives in Oklahoma

Fallin issued a statement Wednesday that she is pleased the president is visiting Oklahoma to see the work going on in Cushing, but said he “has lost his way on energy policy

Read more: President arrives in Oklahoma | NewsOK.com​




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The CinC stopped by Boulder City Nevada on his way to a nearby solar project. One of the stories I read described Boulder City as a "dusty little city". POTUS declared the solar projects would be the "new Hoover Dam". The article stated that Copper Mountain photovoltaic and Nevada Solar One concentrated solar plants were in Boulder City. I was ready to call BS on all of that until I did some research.

The original Boulder City is hardly dusty. It has tons of landscaping green stuff. It was a federal reservation until 1959 or 60. Don't dis the city. Ever been there?

New Hoover Dam? The statement speaks for itself.

About the solar projects. Yeah, they are in Boulder City. Turns out Boulder City has incorporated an area to the southwest about six times the original area. Connected to the city by a strip about 500' x 1 mile. Clever Devils.

Turns out all the mirrors, tubes, etc. for these projects came from either Spain or Germany. Most of the labor that built them were travelers. Now they employ less than 100 people, most imported by the owners.

And about that dusty-ness. Solar reflectors become much less efficient when covered with dust. I wonder who dusts them?

Did I mention the feds have to upgrade the local infrastructure to connect the "new Hoover Dam" to the BES? BES? New official buzz acronym for the grid. "Bulk Electrical System". Did I mention that Duke Energy, Acciona, Sempra, PG&E are not paying a lot for the fed BES upgrade?

I mention too much.

Bottom line is we don't need no stinking oil so who cares about the price. Soon heavily subsidized industry will make it possible for all the peoples to have all the clean, renewable energy it desires in a free open marketplace.

Ignore that shiny spot in the stinking desert to the south of Boulder City.

I hope they publicize when they are going to blow up the damn dam and I am still around to see it. It's gonna go viral on you tube.
 
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