Oil Slick Stuff

Sort by newest Sort by date
[h=1]Higher oil forecasts suggest OPEC tactics are paying off[/h]
LONDON (Reuters) - The world's three big energy agencies are forecasting higher demand for OPEC's crude oil this year, a sign the producing nations' strategy to let prices fall is starting to win them back market share from rivals who are cutting output.
After an oversupply of world oil sent prices tumbling in 2014, top OPEC exporter Saudi Arabia urged fellow members not to prop up the market and to try to knock out competing sources like U.S. shale, which, because it has higher production costs, had to cut output when prices fell.

In reports this week, The International Energy Agency and the Organization of the Petroleum Exporting Countries have raised by at least 200,000 barrels per day (bpd) their estimates of demand for OPEC crude in 2015, while the U.S. government's Energy Information Administration forecasts OPEC will pump 140,000 bpd more.
At the same time data suggesting a forthcoming economic recovery has raised hopes for improving oil demand: Euro zone economic growth accelerated unexpectedly in the final quarter of 2014 as the bloc's largest member, Germany, expanded at more than twice the expected rate.[more]
http://finance.yahoo.com/news/higher-oil-forecasts-suggest-opec-143132881.html
 
The FEDs and the States think lower prices for gasoline mean it's a great time to raise Gas Taxes. We pay taxes on gasoline by the gallon, that means folks are buying more gas taking more trips because it's cheaper, so what do they do THEY WANT MORE TAXES even if they are getting more taxes due to the price of Gas! CROOKS! Write your Congressmen!:nuts:
Gas isn’t as cheap as you think


The sharp drop in oil and gas prices since last summer suddenly seems like a revenue-raising opportunity to officials in several states and even in Washington. Since consumers are saving so much money, the reasoning goes, they might barely notice if gas taxes went up, providing more money for roads and other transportation projects.



At least a dozen states are considering raising gasoline taxes, including some with anti-tax Republican governors, such as Iowa, New Jersey, North Carolina, South Carolina, Tennessee and Utah. In Washington, a few Republicans and many Democrats favor raising the federal gas tax to replenish the Highway Trust Fund, which runs out of money every year and gets topped off with cash from other Treasury accounts.
If there was ever a good time to raise taxes on motor fuel, now seems to be it. The last time gas prices were this low was in early 2009, at the height of the Great Recession. Washington was cutting taxes and ramping up spending instead of the other way around, to stimulate the economy. Now, by contrast, job creation is strong, workers are starting to earn more and falling gas prices are themselves a kind of stimulus program putting more money in consumers' pockets.
But politicans better hurry if they want to slip a gas tax past blissed-out drivers. The euphoria over the money consumers are saving at the pump conveys the impression that gas prices have dropped to record lows. Not even close, and a modest rise in gas prices could remind drivers that gas isn't all that cheap after all. [more]
http://finance.yahoo.com/news/gas-isn-t-as-cheap-as-you-think-152406684.html
 
[h=1]Exxon Mobil Corporation (NYSE:XOM) Intentions to Take Possession of BP (NYSE:BP)[/h]
I thought that BP should have been terminated for what they did in the Gulf of Mexico.
I guess it is finally going to happen.
 
wwwtractor said:
Exxon Mobil Corporation (NYSE:XOM) Intentions to Take Possession of BP (NYSE:BP)


I thought that BP should have been terminated for what they did in the Gulf of Mexico.
I guess it is finally going to happen.
Click to expand...
I thought BP was to BIG to FAIL?
 
Fayette County, West Virginia, Train Derailment Sparks House Fire

Source: NBC News

A freight train carrying crude oil derailed Monday in southern West Virginia, causing an explosion that set at least one house on fire, according to authorities. Several of the train cars spilled into the Kanawha River, east of Montgomery, and caught fire, prompting an evacuation order for a mile-and-a-half around the area where the train skipped the tracks, according to NBC affiliate WSAZ.

No injuries have been reported, according to the Fayette County Sheriff's Department. The Fayette County Fire Department responded to the scene, the sheriff's department said.

Read more: Fayette County, West Virginia, Train Derailment Sparks House Fire - NBC News

Pic:
fire.jpg
 
Meanwhile:

Official: Ethanol levels low in river following derailment

February 10, 2015 7:00 am


DES MOINES (AP) | Results from several monitoring stations along the Mississippi River show much of the ethanol that leaked into the water after several train cars derailed has dissolved, the Iowa Department of Natural Resources said Monday.

DNR spokesman Kevin Baskins said the highest levels of ethanol have been detected nearest the site where 14 cars containing the fuel went off the tracks Wednesday in a steep, remote area north of Dubuque. Eight of the cars that derailed appeared to be leaking.
Baskins said the ethanol dissipated fairly quickly in the first mile downstream, with fuel levels virtually undetectable 10 miles from the site.

He said an additional sampling site was set up over the weekend 130 miles south of the spill, but he said he'd be surprised if ethanol levels appeared that far downstream.

Baskins also said dissolved oxygen levels in the river appear normal so far, which he said is encouraging for the aquatic life in the area.
Officials say they're still unsure how much ethanol spilled into the Mississippi, but Baskins said the approximately 55,000 gallons that remain unaccounted for burned off in the three cars that caught fire, pooled over an acre of ice, soaked into soil in the area and leaked into the river.

As water observation continues, Baskins said removing ethanol covering a section of ice remains a priority. He said thinning ice makes the fuel's removal difficult, because the ice might not support the necessary equipment. Instead, Baskins said the DNR is considering using a compressor to blow air into the water to maintain dissolved oxygen levels as the ice keeps melting.

Story:

http://www.kwwl.com/story/28070307/2015/02/10/testing-for-ethanol-in-mississippi-continues

-------------------------------

(Undetectable down river after a spill. Try doing THAT with Canadian tar-sands crude! )
 
Trains instead of pipelines. Hmmm wonder who's getting richer off of that?

6a00d8341c630a53ef014e89ac8c15970d-pi


"See I keep the ones on the outside to prove I'm not rich." :laugh:
 
[TABLE="width: 100%"]
[TR]
[TD]Derailed CSX train in West Virginia hauled newer-model tank cars

Source: Reuters

A CSX Corp (CSX.N) oil train that derailed and erupted in flames in West Virginia on Monday was hauling newer model tank cars, not the older versions widely criticized for being prone to puncture, the firm said.

All of the oil tank cars on the 109-car train were CPC 1232 models, CSX said late Monday. The train, which was carrying North Dakota crude to an oil depot in Yorktown, Virginia, derailed in a small town 33 miles (54 km) southeast of Charleston.

The CPC 1232 is the newer, supposedly tougher version of the DOT-111 cars that were manufactured up until 2011. The DOT-111 cars have been faulted by regulators and operators for a number of years. U.S. and Canadian authorities, under pressure to address a spate of fiery accidents, are seeking to phase out the older models.

It was the second significant oil-train incident in three days following a Canadian National Railways (CNR.TO) train from Alberta's oil sands that derailed in a wooded area of northern Ontario on Feb. 14. CN said 29 of 100 cars were involved and seven caught fire. No injuries were reported.

Read more: Derailed CSX train in West Virginia hauled newer-model tank cars | Reuters [/TD]
[/TR]
[/TABLE]
 
Get used to it as long as we depend mostly on transporting Oil, Gas, and Moonshine by rail, that's just the way it is. Enjoy the show.
 
[h=1]Oil Rally May Reverse on Rising U.S. Supply[/h] By Grant Smith 4 hours ago



(Bloomberg) -- The rebound in oil will reverse because rising U.S. production is deepening the global supply glut, according to UBS AG, Bank of America Corp. and Commerzbank AG.
rent futures entered a bull market this month as U.S. drillers stopped using a record number of rigs, companies cut at least $40 billion from spending plans and hedge funds turned the most bullish in seven months. None of that will stop Brent slipping back to $45 a barrel or lower within the next three months, from about $61 now, the banks’ analysts say. Prices fell as low as $45.19 on Jan. 13. The highest U.S. oil production in three decades won’t be curtailed by the idling of rigs and inventories will keep expanding, according to UBS. The rally has been based on sentiment rather than the fundamentals of supply and demand, Commerzbank says. As storage space fills up, producers will need to discount to sell barrels, Bank of America predicts.[more]
http://finance.yahoo.com/news/video-oil-rally-may-reverse-105927214.html
 
Uh-oh.

Looks like the oil companies have another excuse to reaise the price of gasoline in California-

A refinery fire today near Los Angeles.

Blast hits Southern California Exxon Mobil refinery; 2 minor injuries


TORRANCE, Calif. (AP) -- An explosion occurred Wednesday at an Exxon Mobil refinery in Southern California, triggering a very large smokestack flare to burn off flammable product, authorities said.

Roads were closed after the incident shortly before 9 a.m. and ash was in the air, Torrance police Sgt. Paul Kranke said.
The blast happened in a processing facility and the material involved was most likely gasoline, Fire Department spokesman Steve Deuel told KCBS-TV.
A small ground fire was quickly extinguished and the facility's flare system was triggered for safety reasons, Deuel said.

There were two minor injuries and neither person was hospitalized, he said.

TV news helicopters showed a structure several stories tall with damage.

Exxon Mobil spokesman Todd Spitler said the cause of the explosion was under investigation and company officials were working with local agencies.
The Police Department told the community it was not necessary to take shelter.

The refinery about 20 miles south of downtown Los Angeles covers 750 acres, employs over a thousand people, and processes an average of 155,000 barrels of crude oil per day, according to the company.
Click to expand...
 
James48843 said:
Uh-oh.

Looks like the oil companies have another excuse to reaise the price of gasoline in California-

A refinery fire today near Los Angeles.
Click to expand...

nothing to see here folks. it was probably just a union protest/intimidation/strike/arson to prove a point. what ignites gasoline better than, well, gasoline? in a bottle, with a rag stuffed in it, and some picket signs for tinder. funny how all the serious unexplainable fires happen about the same time as serious unexplainable union protests.

but that's what laywers and lobbyists are for, if they no good for starting fires, at least they can attempt to spark flame in a young man's heart.

notice how little effect these desperate measures have on actual reality.
 
[h=1]These places have lost the most rigs since crude’s collapse[/h]
Published: Feb 19, 2015 5:51 p.m. ET

MW-DF906_rigs_l_20150219125444_ZH.jpg


SAN FRANCISCO (MarketWatch)—The collapse in crude prices has sidelined hundreds of oil- and gas-drilling rigs in recent months, with two of the most prolific U.S. oil-producing areas the hardest hit.
West Texas’ Permian Basin and North Dakota’s Williston Basin, which includes the Bakken Shale formation, top the list, losing 198 and 63 rigs, respectively, from late November to last week, according to data from Baker Hughes Inc. BHI, -1.17% That’s nearly half of the total number of rigs lost in the same period.
Rigs are being mothballed as energy companies struggle to contain costs amid a slide in oil prices of more than 50% in just over six months. While prices have recovered slightly since then, the world continues to grapple with a glut of oil.
Read: Mounting oil supplies approach ‘virgin territory’

These places have lost the most rigs since crude
 
You must log in or register to reply here.
Back
Top