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Crude Oil Rises as U.S. Refineries Increase Gasoline
Production

By Robert Tuttle

May 21 (Bloomberg) -- Crude oil rose above $66 a barrel in New York to its highest price in three weeks as refineries stepped up production of gasoline to meet increased demand for summer.
U.S. refineries have boosted crude processing in recent weeks after disruptions earlier in the year cut output. Gasoline inventories rose to 195.2 million barrels the week ended May 11, the second consecutive weekly increase, according to a U.S. Energy Department report on May 16. The increase left supplies 7.5 percent below the five year average.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aYNuJH4N3FC8&refer=home
 
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Oil settles above $66 on Nigeria concern

Assailants break into a well operated by French oil company Total, causing minor spill.

May 21 2007: 3:49 PM EDT


LONDON (Reuters) -- Oil surged more than a dollar to push past $66 a barrel on Monday as unrest in Nigeria kept markets on edge for further supply disruptions ahead of the U.S. summer gasoline season.
Crude rose $1.33 to settle at $66.27 a barrel.
oil_bubble2.03.jpg


http://money.cnn.com/2007/05/21/markets/oil.reut/index.htm?postversion=2007052115
 
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The_Technician said:
Well well well, funny how things work out.....it appears folks that a research engineer found the solution to our energy needs without going oil......he researched on a Aluminum Gallium combination due to an observation in the lab cleaning up (he's in the electronics industry) and discovered if he mixes the AlGa metal with water POOFFF!!!! goes the hydrogen....!!!!! 350 lbs of AlGa and water and off you go in your car for 350 miles!!!! By product is Aluminum oxide and gallium liberating the Hydrogen from the water!!!!.....aluminum from the oxide can be recovered at 2500 degrees F and then the gallium is pure after the reaction......no emissions.....

AlGa is considered like a storage device for energy at this point....

We are thar.....folks we are thar...oil is old hat.
Click to expand...

As part of an energy storage mechanism:
When gallium is alloyed with aluminium it can be used to break the bond between hydrogen and oxygen in water. A reaction occurs when water is added to the alloy which produces hydrogen and aluminium oxide. This could potentially provide a solid hydrogen source for transportation purposes, which would be more convenient than a pressurized hydrogen tank.[3] Resmelting the resultant aluminum oxide and gallium mixture to metallic aluminum and gallium and reforming these into electrodes would constitute most of the energy input into the system, while electricity produced by a hydrogen fuel cell could constitute an energy output.[4]
 
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I should have stayed in SC!!:(

One state left with gasoline below $3

Prices break record for 10th day in a row, topping $3.20 a gallon; New Jersey only state left with an average price under $3.

May 22 2007: 8:26 AM EDT


NEW YORK (CNNMoney.com) -- Gasoline prices broke a record Tuesday for the 10th day in a row as every state except for New Jersey now has an average price above the $3 a gallon mark in AAA's daily survey.
http://money.cnn.com/2007/05/22/news/economy/record_gas_tues/index.htm?cnn=yes
 
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Might not be enough too effect prices, but every little bit hurts:o
AP
BP Shuts 100,000 Barrels of Alaska Oil
Tuesday May 22, 10:40 am ET
By Alan Zibel, AP Business Writer

BP Shuts 100,000 Barrels of Output in Prudhoe Bay for a 'Few Days' Due to Water Pipeline Leak

WASHINGTON (AP) -- BP said Tuesday it will shut down 100,000 barrels, or one quarter, of its Alaskan oil production for a "few days" after discovering a water pipeline leak. Analysts said the temporary loss of output at Prudhoe Bay should not have a dramatic impact on world oil markets, but with supplies already tight and crude futures trading near $66 a barrel, any snag in the industry tends to make energy traders jittery. 9More)
http://biz.yahoo.com/ap/070522/bp_oil_shutdown.html?.v=4
 
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We all are aware of what one good hurricane can do to oil and gas prices. Let's just hope they are wrong again!:o

Experts predict 'active' hurricane season

POSTED: 11:30 a.m. EDT, May 22, 2007


var clickExpire = "06/21/2007";Story Highlights

• NEW: Forecasters predict seven to 10 hurricanes this season
• Expert: Florida 4 times as likely to be hit, Texas twice as likely
• El Nino over, making way for more storms on East, Gulf coasts
• Last year, there were 10 named storms in the Atlantic

Adjust font size:


WASHINGTON (AP) -- Government forecasters called for a busier than normal hurricane season Tuesday.
National Weather Service forecasters said they expect 13 to 17 tropical storms, with seven to 10 of them becoming hurricanes.
The forecast follows that of two other leading storm experts in anticipating a busy season.
The likelihood of above normal hurricane activity is 75 percent, the National Oceanic and Atmospheric Administration said. (Watch how storms spur the market for survival kits and hurricane armor
http://www.cnn.com/2007/WEATHER/05/22/hurricane.forecast.ap/index.html
 
Nnuut,

Your home page looks neat!

Got some questions?
RE: OIL<50= Beautiful, <60= OK, 60-65= Worry, >65= Panic >70= SELL

70=SELL! What are we selling?? [sox, the SUV, wife, kids, home??]

And, What happens at:
80....?
90....?
100...?

Where is total capitulation?

All important questions!.......:D
 
Spaf said:
Nnuut,

Your home page looks neat!

Got some questions?
RE: OIL<50= Beautiful, <60= OK, 60-65= Worry, >65= Panic >70= SELL

70=SELL! What are we selling?? [sox, the SUV, wife, kids, home??]

And, What happens at:
80....?
90....?
100...?

Where is total capitulation?

All important questions!.......
Click to expand...
Looks neat, recogination at last!!!!:D Thanks as you know it's not easy.

$70 SELL, all of the above!! I've been thinking about that one. From experiance last year when things were looking bad with Iran, Isreal, hurricanes (year before last?) Oil was in the middle $70 and really effected the Markets in a bad way. I wish I had SOLD or jumped onto the Lilly Pad or maybe the "F" fund because the price of oil and gas were really dragging down the Markets. Now if you own Oil/Gas stock that or just above that might be a good level to consider selling, you know, Buy low Sell High. Of course you are aware that I stole the whole thing from you!!:D Just modified it some (and it will be changed as the situation changes) trying to make it not to be so clearly a crime on my part.
80, 90, or 100, I'm riding my bike to work.:laugh:
Capitulation---------????????? If I knew what that meant I probably couldn't do it, legally!!:cool:
Trying hard,
Norman
 
Capitulation:

Nnuut,

That's when you sell the 12v frig for beer in your Pick-up!
That's when you pawn your 30-30!
That's when you and your dog are down to the last rib-eye! And it's U or him!
It's the last minnow in the bucket!
What you say to your wife when you just wrecked her car!
And Lastly!
What you say when the wine cork extractor fails!

Capitulation...c.a.p.i.t.u.l.a.t.i.o.n!

fapS
 
Hey, I do that all the time. Today I Capitulated the "I" and "S" fund today for a little bit of nothing "G". Nobody is gonna touch my truck frig tho!!:nuts::nuts:
 
The two largest spikes in gas adjusted for inflation was in 1981 and also after the big Katrina storm. I just returned from a trip to Illinois last week and never thought I would see higher gas than the left coast, but Illinois surpassed our record highs!!

Back in 1981, I was driving a very thirty Mustang with a 351 V8. Today, my Toyota FJ gets a little better mpg, but not by much. My airplane burns 9 gallons per hour of gas and that works out to about 14mpg. I’m thinking about trading both of them in for a bicycle and kite!

Regardless of inventories, demand for fuel remains high so it will hit everyone in the pocket book. I’m amused when they focus on inflation without factoring in energy when energy costs drive the economy. But, I think the markets will have dramatic swings this summer when the hurricanes blow through and that will be interesting. I need to dust off my weather channel hurricane bookmarked on the computer. This might help me stay ahead of the curve.

Good luck with your TSP investments! :cool:
 
What's the delay with the price?

Might just as well Git-R-Done with $4 a gallon now and be done with it, so we can get on with the next leg up to $5 a gallon. :rolleyes: :)
 
Aviator_Guy said:
The two largest spikes in gas adjusted for inflation was in 1981 and also after the big Katrina storm. I just returned from a trip to Illinois last week and never thought I would see higher gas than the left coast, but Illinois surpassed our record highs!!

Back in 1981, I was driving a very thirty Mustang with a 351 V8. Today, my Toyota FJ gets a little better mpg, but not by much. My airplane burns 9 gallons per hour of gas and that works out to about 14mpg. I’m thinking about trading both of them in for a bicycle and kite!

Regardless of inventories, demand for fuel remains high so it will hit everyone in the pocket book. I’m amused when they focus on inflation without factoring in energy when energy costs drive the economy. But, I think the markets will have dramatic swings this summer when the hurricanes blow through and that will be interesting. I need to dust off my weather channel hurricane bookmarked on the computer. This might help me stay ahead of the curve.
Good luck with your TSP investments! :cool:
Click to expand...

And going to get higher, they have us by the Gas Tanks (that hurts) and we have no choice. CROOKS!:nuts:
 
Oil inches up ahead of stockpile report

Analysts expect a 1.4 million barrel rise is gasoline inventories as refiners boosted output ahead of Memorial Day.

May 23 2007: 6:06 AM EDT


LONDON (Reuters) -- Oil hovered above $65 on Wednesday ahead of a weekly snapshot of gasoline and crude oil stocks in top consumer the United States and a report on Iran's nuclear program by the United Nations' atomic energy agency.
U.S. crude rose 13 cents to $65.64. (more)
http://money.cnn.com/2007/05/23/markets/oil.reut/index.htm?postversion=2007052306
 
Less is NOT good!

Mexico's projected oil output slashed

EIA says lack of foreign investment will hinder the country's ability to tap resources deep in the Gulf of Mexico.

May 21 2007: 3:42 PM EDT


NEW YORK (Reuters) -- U.S. government forecasters sharply reduced their projection for Mexican oil output in a report released Monday after reassessing the willingness of the Mexican government to open up the country's oil sector to foreign investment.
The Energy Information Administration said in its 2007 International Energy Outlook that Mexican oil production is expected to decline to 3 million barrels per day by 2012 before gradually rebounding to reach 3.5 million bpd by 2030. (More)
 
nnuut said:
Less is NOT good!

Mexico's projected oil output slashed

EIA says lack of foreign investment will hinder the country's ability to tap resources deep in the Gulf of Mexico.

May 21 2007: 3:42 PM EDT


NEW YORK (Reuters) -- U.S. government forecasters sharply reduced their projection for Mexican oil output in a report released Monday after reassessing the willingness of the Mexican government to open up the country's oil sector to foreign investment.
The Energy Information Administration said in its 2007 International Energy Outlook that Mexican oil production is expected to decline to 3 million barrels per day by 2012 before gradually rebounding to reach 3.5 million bpd by 2030. (More)
Click to expand...

It has been coming.

http://www.tsptalk.com/mb/showpost.php?p=88068&postcount=1459
 
Maybe Oil/Gas inventories numbers will be promicing today and cool off Gas prices, Maybe not?:confused:

Gas price spike longest on record

Gallon of gas tops $3.22 for 11th straight record high day; 20th day above $3.

By Chris Isidore, CNNMoney.com senior writer
May 23 2007: 8:10 AM EDT


NEW YORK (CNNMoney.com) -- The 11th straight day of record high gas prices Wednesday resulted in a new measure of pain for the nation's drivers -- the longest stretch of time with gas above $3 a gallon, according a closely-watched daily survey.
And relief is no where in sight heading into the Memorial Day holiday that marks the start of the summer driving season. Prices continue to rise in most of the country, as the Midwest saw prices soar a nickel or more a gallon in one day in several states.

http://money.cnn.com/2007/05/23/news/economy/record_gas_wed/index.htm?postversion=2007052308
 
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