Oil Slick Stuff

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$63.40 -1.00 at 13:51:mad: http://www.nymex.com/lsco_fut_condet.aspx?product=CL&month=June&cmonth=M&year=7&currPrev=C

Oil falls as gasoline demand slows

Refineries also ramp up production; crude supplies rise in line with estimates.

By Steve Hargreaves, CNNMoney.com staff writer
May 2 2007: 2:02 PM EDT

NEW YORK (CNNMoney.com) -- Oil prices fell Wednesday after the government said growth in gasoline demand eased, refineries ramped up production and inventories were in line with estimates.
U.S. light crude for June delivery fell 75 cents to $63.65 a barrel on the New York Mercantile Exchange. Oil had traded down 36 cents just prior to the report's release.
In its weekly inventory report, the Energy Information Administration said gasoline demand over the last four weeks grew at 1.6 percent, which is about the average rate.
Crunch time for Hitler's fuel
http://money.cnn.com/2007/05/02/markets/oil_eia/index.htm?postversion=2007050214
 
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Those Nigerian Rascals are at it again!!:suspicious: :suspicious:

Oil gains on Nigerian violence

Fears of supply disruption from world's eighth largest oil producer lend support to U.S. crude prices.

May 3 2007: 6:03 AM EDT

LONDON (Reuters) -- Oil prices rose Thursday on concerns that escalating violence in Nigeria could disrupt supplies from the world's eighth largest oil exporter.
http://money.cnn.com/2007/05/03/markets/oil.reut/index.htm?postversion=2007050306
 
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Yes, that has happened before, but lately it's been stuck in a trading range. If we drop and hold below $63 that's a good sign.:cool:
 
$63.32 +.13 at 09:17:o

http://www.nymex.com/lsco_fut_condet.aspx?product=CL&month=June&cmonth=M&year=7&currPrev=C

Oil eases despite Nigeria worries

Crude prices hover around $63 a barrel, even as deeper supply disruptions in the African nation increase upward pressure.

May 4 2007: 7:26 AM EDT

LONDON (Reuters) -- Oil prices eased slightly Friday, despite deeper supply disruptions in Nigeria and low U.S. gasoline stocks in the run-up to the crucial summer driving season in the U.S.
Force majeure has been declared on shipments from Nigeria's 50,000 barrel-per-day Okono/Okpoho oilfield after eight foreign workers were kidnapped from the offshore facility Thursday.
http://money.cnn.com/2007/05/04/markets/oil.reut/index.htm?postversion=2007050407
 
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FUTURES MOVERS
Reformulated gas gains as retail prices top $3

By Myra P. Saefong & Ciara Linnane, MarketWatch
Last Update: 10:47 AM ET May 4, 2007

SAN FRANCISCO (MarketWatch) -- Reformulated gasoline was the biggest mover among the energy futures Friday, gaining as concerns about U.S. supplies lifted regular gasoline prices at the retail level past $3 a gallon, just a few cents short of a record.
The retail price for a gallon of regular unleaded climbed to $3.012 Friday, edging closer to the all-time high of $3.057 seen on Sept. 5, 2005, according AAA's Daily Fuel Gauge Report. See the report.
http://www.marketwatch.com/News/Story/Story.aspx?column=Futures+Movers
 
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A small subsidy wouldn't hurt my feelings!:o

Where gasoline is cheap

And why places like Saudi Arabia, Iran, China and Russia are making it more expensive for you.

By Steve Hargreaves, CNNMoney.com staff writer
May 4 2007: 5:49 PM EDT

NEW YORK (CNNMoney.com) -- In Saudi Arabia gasoline costs about 45 cents a gallon. In Iran it's 33 cents. Venezuelans pay less than a quarter.
These absurdly low prices are a direct result of massive government subsidies.
While these numbers are not adjusted for cost of living, it's fair to say that drivers in those countries are getting a good deal.
But it's straining government budgets. More importantly, it's not allowing the free market to do its job. Higher prices on the open market are not leading to a drop in demand, which is keeping the cost of oil high for everyone else.
"Roughly two-thirds of new oil demand is coming from countries that have subsidized oil markets," said Christopher Ruppel, a senior geopolitical analyst with the consulting firm John S. Herold. "So demand is not going to be affected if oil goes from $60 a barrel to $80."
By no means does this let motorists in the United States off the hook. Gasoline consumption in this country has been rising even faster than normal, around 2.5 percent annually over the past couple of months, despite average prices in excess of $3 a gallon, close to an all-time record.
But countries where consumption is rising the fastest may be surprising.
With its white-hot economy, it's no surprise China tops the list. The country's oil demand is projected to grow 7.5 percent this year, according to statistics provided by Ruppel. (more)
http://money.cnn.com/2007/05/04/news/economy/gas_demand/index.htm?cnn=yes
 
We have to get our energy where we can, let's hear one for Australia!!:D Beer is GOOD, and so is GREED!


Foster's hops on green bandwagon

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The battery should produce enough electricity to power a home

Australian brewer Foster's has teamed up with scientists to create the world's first "beer battery".
The technology - using bacteria which consume sugar to generate power from brewery waste water - was unveiled at the University of Queensland.
The http://news.bbc.co.uk/2/hi/business/6615787.stm
 
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Now they can subadise their oun Oil and leave our Oil alone, Ha!!:suspicious:

China claims major oil field find

China claims major oil field find

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China is the world's second largest oil consumer

China's biggest oil firm, PetroChina, says it has made the country's largest crude discovery in a decade.
PetroChina said the find off China's north eastern coast had proven reserves of almost three billion barrels.
Western analysts said that while the field, called Jidong Nanpu, would probably produce less than a quarter of that amount, it was still a major find.
China, the world's second-biggest oil consumer, has been seeing supplies slow at its existing domestic wells.
'Major asset'
http://news.bbc.co.uk/2/hi/business/6623179.stm
 
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And this runs the price of everything UP!!View attachment 1597
I'm moving back to Charleston SC!

Gas prices hit record high

Lundberg survey has self-serve regular hitting a national average of $3.07 for a gallon

May 6 2007: 3:23 PM EDT

ATLANTA (CNN) -- The price of gasoline has hit a new record high, averaging $3.07 for a gallon of self-serve regular in the United States, a survey reported Sunday.
When inflation is factored in, the new price trails the all-time high in March 1981. At the time, gasoline cost $1.35 a gallon -- in today's dollars, that's $3.13 a gallon, said Trilby Lundberg, publisher of the Lundberg Survey
http://money.cnn.com/2007/05/06/news/economy/gasoline/index.htm?cnn=yes
 
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nnut- I'm curious was does regular cost at COSTCO in Georgia-here COSTCO is $3.04 and the cheapest gas on the Hawaiian Islands (Maui, Kauai, Hawaii and Molikai get it from Oahu via fuel barge. And yes they pay more then Oahu.)

FWIW We refine our on gasoline here [I think the oil comes from either Indonesia or So. Calif.] The airlines, military and various South Pac island -out side of Hawaii-also get our refined products.
 
I filled up my gas guzzling Toyota FJ cruiser 4x4 and the cheapest price I could find was $3.35 near my house in Los Angeles. This hotlink is a great resource for finding a good deal on the ever changing price for gas. I know it’s sad, but I was really happy to find it that cheap. The problem out here on the left coast is, refineries cutting back on their production to drive up the price before our peak driving season. My favorite toys use gas, so I will continue to use it for the fun factor.

I hope this website helps ya save a little of the green stuff! Have a great day! :cool:
http://www.gasbuddy.com/
 
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