Oil Slick Stuff

Sort by newest Sort by date
FireWeatherMet said:
US May Soon Be Energy Independent: Study

By Patti Domm | CNBC – 2 hours 7 minutes ago




"U.S. oil and gas production is evolving so rapidly-and demand is dropping so quickly-that in just five years the U.S. could no longer need to buy oil from any source but Canada, according to Citigroup's global head of commodities research."

US May Soon Be Energy Independent: Study - Yahoo! Finance
Click to expand...
This already could have happened, and everyone knows why it hasn't and is still being held back!
 
FireWeatherMet said:
James, unfortunately this is why:

“Consumers have been paying on average for the last five years by conservative estimates a good 35% over fair market prices for oil related products based on market manipulation”.

Forget Libor-gate, Oil Market Manipulation Is Far Worse - Business Insider


Ironically, while prices at the pumps rise, the overall supply of oil is near all time highs with most US storage facilities backed up to near full capacity.
WTI-Brent Spread Could Test $30 - Business Insider

So with an over abundance of supply what’s the Oil industry to do?
Option 1…have prices at the pumps go down and take lower profits…or…
Option 2…manipulate how much is refined, or falsely claim a refinery is down when in reality its back online, so that the price at the pumps goes up….to offset the laws of supply and demand….seen in article below where researchers found that during times that refineries reportedly were offline….they were actually online and refining.

Refineries manipulating gas prices, producing fuel when they say they’re not … | RefineryNews.com
Click to expand...
How about Option 3, remove subsidies from the government and give back the 3 Billion/yr to Affordable Care Act.
 
[TABLE="class: tablewrapper"]
[TR]
[TD="class: econo-reportname, colspan: 2"]EIA Petroleum Status Report
[/TD]
[/TR]
[TR]
[TD="colspan: 2"]

[TABLE="class: actual_consensus_box"]
[TR="class: actual_consensus_toprow"]
[TD]		Prior
Actual
Crude oil inventories (weekly change)
Gasoline (weekly change)
Distillates (weekly change)

[TD="class: econo-releaseinfo"]Released On 2/13/2013 10:30:00 AM For wk2/8, 2013
[/TD]

[TD="class: actual_consensus_box_numbers"]2.6 M barrels
[/TD]
[TD="class: actual_consensus_box_numbers"] 0.6 M barrels
[/TD]

[TD="class: actual_consensus_box_numbers"]1.7 M barrels
[/TD]
[TD="class: actual_consensus_box_numbers"] -0.8 M barrels
[/TD]

[TD="class: actual_consensus_box_numbers"]-1.0 M barrels
[/TD]
[TD="class: actual_consensus_box_numbers"] -3.7 M barrels
[/TD]
[/TD]
[/TR]
[/TABLE]
[/TD]
[/TR]
[/TABLE]


crude inventories.jpg
Economic Calendar - Bloomberg
 
Buster said:
Gas jumped again today without good reason...From $3.38 to $3.49:suspicious:
Click to expand...
Their excuse was probably that Inventories were down, but as we all know we haven't started the driving season yet so demand is probably down in the US.
 
James48843 said:
$4.09 a gallon tonight for regular in Michigan!

(I'm buying $3.29 FOR E85 instead of gas).
Click to expand...

sleepy.gif
 
You must log in or register to reply here.
Back
Top