Oil Slick Stuff

Sort by newest Sort by date
nnuut said:
How about that E85 how's it's price looking? It seems corn prices have spiked and should drive the price up.
Click to expand...

Ethanol prices are falling- and Ethanol as a whole is now about 70 cents a gallon cheaper than gasoline- at least on the wholesale market at Chicago Board of Trade CME pits:

09-21-2012-etha.JPG

As for RBOB gasoline futures, they've been pretty flat, even though we've gotten a little break on the price of a barrel of oil. RBOB continues to hover right around $3 a gallon in New York Harbor barges:

09-12-2012-RBOB-.JPG

Today RBOB gasoline is a little less than that- around $2.94 right now. So gasoline is still $.69 cents a gallon more than ethanol at the wholesale level. At the pump itself- there are far fewer pumps that sell E85 (only about 3,000), so there is less competition. Whole ethanol cost of .69 cents less is translating to only about .30 to .40 cents retail pump price less. In the ball park, but no big incentive to switch for most flex-fuel cars. Most flex-fuel cars need a 12 to 15% savings in order to be more cost advantageous- as E85 gives about a 12-15% fewer MPG in many cars.

We're only at about a 12% price spread, so it is about equal, but no advantage at the pump right now.

In answer to your question- E85 is priced below gasoline right now, and it is slowly falling.

Just like gasoline, it seems to go up faster than it comes down, but it is coming down to remain cost-competitive.
 
James48843 said:
Ethanol prices are falling- and Ethanol as a whole is now about 70 cents a gallon cheaper than gasoline- at least on the wholesale market at Chicago Board of Trade CME pits:

View attachment 20397

As for RBOB gasoline futures, they've been pretty flat, even though we've gotten a little break on the price of a barrel of oil. RBOB continues to hover right around $3 a gallon in New York Harbor barges:

View attachment 20398

In answer to your question- E85 is priced below gasoline right now, and it is slowly falling.

Just like gasoline, it seems to go up faster than it comes down, but it is coming down to remain cost-competitive.
Click to expand...
Wonderful Filler UP, I can't there is only 4 stations that carry E85 within 50 miles of here.
http://e85vehicles.com/e85-stations/e85-georgia.html
 
Criminal investigation at Chevron refinery

Source: San Francisco Chronicle

Federal authorities have opened a criminal investigation of Chevron after discovering that the company detoured pollutants around monitoring equipment at its Richmond refinery for four years and burned them off into the atmosphere, in possible violation of a federal court order, The Chronicle has learned.

Air quality officials say Chevron fashioned a pipe inside its refinery that routed hydrocarbon gases around monitoring equipment and allowed them to be burned off without officials knowing about it. Some of the gases escaped into the air, but because the company didn't record them, investigators have no way of being certain of the level of pollution exposure to thousands of people who live downwind from the plant.

"They were routing gas through that pipe to the flare that they were not monitoring," said Jack Broadbent, executive director of the Bay Area Air Quality Management District, whose inspectors uncovered what Chevron was doing and ordered the bypass pipe removed.

The U.S. Environmental Protection Agency's criminal enforcement unit opened an investigation in early 2012, more than two years after the local inspectors made their discovery, according to air-quality officials and others familiar with the probe. The investigation is still open, and Chevron employees have been interviewed.
Click to expand...

Read more: Criminal investigation at Chevron refinery - SFGate
 
Talked to my central Ill corn-country uncle yesterday. He says the weather guys say the drought there is the worst since 1936. My uncle was 6 years old in 1936, and he was living on a farm with his grandparents at the time. He says the corn in IL this year never headed, he says they finally cut it all down for silage just to clear the fields. ranchers are selling off their herds out west. people are hurting from food and gas costs-bad. Saudi can't afford for oil to drop below $85/bbl or they'll face internal uprisings there too. Only place I saw decent corn crops this year in my fall travels were in southern Idaho-which isn't a big corn growing state.
 
The Role of Shale Gas in Deciding the US Presidential Election
GBI Research
|
Wednesday, September 26, 2012

President Obama faces a shale gas dilemma that threatens to damage his bid to secure a second term in the White House, stated the latest report from natural resources experts GBI Research.
The United States is currently endowed with a wealth of natural gas following years of overproduction, and while allowing exports would win friends within the industry and potentially boost the economy, it would anger those seeking to keep domestic prices low, says the new report*.
The past few years have seen natural prices falling to around $3 to $4 per million British thermal units (MMBtu), and the U.S. Energy Information Administration EIA expects the annual wellhead natural gas price trend to remain at around $5 per MMBtu until 2025.
Click to expand...
RIGZONE - The Role of Shale Gas in Deciding the US Presidential Election
 
'Drunken' Broker Sent Oil to 8-Month High in 2009: Report

Source: CNBC

On June 30, 2009, oil mysteriously jumped by more than $1.50 a barrel during the night, to reach its highest price in eight months, the kind of swing that is caused by a major geopolitical event.

The amazing, true cause of this price spike has now been released by a Financial Services Authority investigation (FSA).

Although not authorized to invest company cash in trades, Steve Perkins, a long standing, senior broker at PVM Oil Futures, had managed to spend $520 million on oil futures contracts throughout the night, the FSA said.

On the morning of the 30th, an admin clerk called Perkins to ask why he had bought 7 million barrels of crude during the night. Perkins had no recollection of the transactions, and it turned out that he had made the trades during a “drunken blackout," according to the FSA.

By the time PVM realized the transactions had not been authorized by a client, they had incurred losses of $9,763,252.

...

The FSA has said that they will re-approve his license after the five-year period, if he has recovered from his drinking problem, although they warned that,“Mr Perkins poses an extreme risk to the market when drunk.”
Click to expand...
I hate when that happens. (hic)
Read more: 'Drunken' Broker Sent Oil to 8-Month High in 2009: Report - US Business News - CNBC
 
You must log in or register to reply here.
Back
Top