Oil Slick Stuff

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June 7, 2012, 10:01 a.m. EDT
Oil futures rally after China cuts rates

By Myra P. Saefong, MarketWatch
SAN FRANCISCO (MarketWatch) — Crude-oil futures rallied Thursday, headed for their fourth-straight session of gains, as a surprise interest rate cut in China helped fuel a rally among assets perceived as risky and pulled the dollar lower.
Crude for July delivery CLN2 +1.95% rose $1.61, or 1.9%, to trade at $86.63 a barrel on the New York Mercantile Exchange. Prices gained 0.9% on Wednesday.
Oil futures rally after China cuts rates - Futures Movers - MarketWatch
 
FWIW. Driving east on I-10, trying to make it out of the PRK but looks from sig other made me stop and buy $10 worth in Blythe at 4.399. Stopped in Quartzsite and filled up at $3.799. Of course another 10 miles found $3.659. Oh well. I was asked "why didn't you just fill up the first time you stopped?". 20 gallons at $.6 more. I know, what's $12 based on the whole trip.
 
2012 Hurricane Season Predicted to Breeze By
by Jaime Kammerzell
Friday, June 01, 2012
Rigzone Contributor

Three major hurricane forecasting teams have predicted a below-average to average hurricane season, which starts Friday, June 1 and runs through November 30.


However, Tropical Storm Alberto made an early appearance off the coast of Florida, Georgia and South Carolina on May 19--the earliest tropical storm since 2003. The storm never made landfall, but coastal residents experienced heavy rain and dangerous surf with maximum sustained winds of 50 miles per hour (mph). Soon thereafter on May 28, Tropical Storm Beryl dumped rain and blew up heavy surf from northeastern Florida to the Savannah River, which divides Georgia and South Carolina.
Needless to say, Gulf coast and East coast residents should prepare for an active Atlantic hurricane season, regardless of predictions.
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RIGZONE - 2012 Hurricane Season Predicted to Breeze By
 
Looks like they have a SIDEWAYS GUSHER there. If proper Nondestructive Testing is periodically done on the pipelines this won't happen. Close the up stream valve NOW!
 
nnuut said:
Looks like they have a SIDEWAYS GUSHER there. If proper Nondestructive Testing is periodically done on the pipelines this won't happen. Close the up stream valve NOW!
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There is a very large corrosive component in that tar-sands oil.

Looks like whatever the NDT schedule is, it isn't sufficient for whatever that pipeline is carrying.

The problem is it isn't just THIS time. It's this time, and all the other times that something didn't work out the way they predicted it was supposed to.
 
James48843 said:
Here is an article about that very subject- Tar Sands oil, and how corrosive and acidic it is, and how that isn't what the design engineers originally had in mind when they designed those pipelines. Now the lines are being eaten much more rapidly than expected, and the NDT schedules have not taken that into account:

‘Highly corrosive

Hope they reinforce the walls soon.

http://www.nrdc.org/energy/files/tarsandssafetyrisks.pdf
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So as the oil is refined is the highly acidic part taken out? If not it sure would play havic with everything that it gets into.
 
Going into work this morning. Yep, I'm still working part time at Best Buy. Only the second time I had to set my alarm since I retired. :D Anyway, gas was as low as $3.44/gal at a few stations. On the way home they all jumped to $3.59. Grrrrrrrrrrr!!!
 
nasa1974 said:
So as the oil is refined is the highly acidic part taken out? If not it sure would play havic with everything that it gets into.
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So add some lime or Bicarbonate of soda, or increase the periodicity of the NDT inspections. DUH!
 
James48843 said:
Alberta, Canada oil spill:

View attachment 19156
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obama-thumb-300x375.jpg
 
Crude oil jumps almost 2% on Spain news
June 11, 2012, 4:58 a.m. EDT
By V. Phani Kumar, MarketWatch
LONDON (MarketWatch) — Crude-oil futures set out on a path to clinch their biggest percentage gain in two months in electronic trading Monday, as news of a bailout for Spanish banks soothed investor worries about the euro-zone debt crisis — for the moment.
U.S. benchmark light, sweet crude-oil futures for delivery in July CLN2 +1.19% climbed $1.38, or 1.6%, to $85.43 a barrel during European trading hours. The front-month contract had risen as high as $86.63 earlier in the session.
Crude oil jumps almost 2% on Spain news - Futures Movers - MarketWatch
 
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