Oil Slick Stuff

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The Slick gets Slicker, watch your step!
$72.77
06/28/2006 - Updated 11:38 AM ET
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Oil at 3-week high as crude; gasoline supplies fallCrude supply drops most since November; gas supply breaks 8-week rise
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</IMG>By Myra P. Saefong, MarketWatch
SAN FRANCISCO (MarketWatch) -- Crude-oil futures climbed to a three-week high Wednesday after the Energy Department reported the biggest weekly decline in crude inventories since late November and the first fall in gasoline supplies in nine weeks.
The news, combined with the closure of a key Louisiana waterway that's reduced production at four refineries, fed concerns about fuel supplies ahead of the July 4 Independence Day holiday.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=Commodities&guid=%7BF903B1FD%2DC7D0%2D4E70%2D97BA%2D8589EE471B97%7D
 
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Up, Down, Up????? Yeah Right!
$72.53 a barrel
06/29/2006 - Updated 7:55 AM ET
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Crude gains as data, oil spill cleanup eyed
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</IMG>By Ciara Linnane, MarketWatch
NEW YORK (MarketWatch) -- Crude-oil futures rose early Thursday, buoyed by unexpected declines in U.S. supplies of crude and gasoline last week, with traders eyeing the pace of efforts to clean up an oil spill in a Louisiana waterway that serves four refineries.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=Commodities&guid=%7B1F1D9D14%2D1F88%2D4F20%2DB38B%2DB05AD388D5C6%7D
 
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It's GOOD when It''s GOOD!
$73.19 a barrel
Oil gains $1 as demand stays strong
Drop in gasoline and crude inventories reinforces investor concerns about summer fuel supplies.
June 29 2006: 11:07 AM EDT

LONDON (Reuters) -- Oil rose above $73 Thursday, extending a week-long rally, as resilient U.S. gasoline demand and lingering geopolitical tensions offset inflation fears.
U.S. August crude rose $1.00 to $73.19 a barrel on the New York Mercantile Exchange, adding to gains of 27 cents on Wednesday.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=Commodities&guid=%7B1F1D9D14%2D1F88%2D4F20%2DB38B%2DB05AD388D5C6%7D
 
House gives go ahead on offshore drilling.
The U.S. House of Representatives approved a controversial bill Thursday that opens up vast stretches of the U.S. coast to oil and gas drilling, paving the way for a reversal of a 25-year ban on energy exploration off a majority of the country's shoreline. Congressional staffers say the bill will have a harder time in the Senate, which is currently considering a much more modest proposal.

http://money.cnn.com/2006/06/29/news/economy/offshore_oil/index.htm
 
OK, now Oil and Gas are put on the back burner! Watch out, that splattering oil and grease may burn you.:worried:
 
What?
$73.62 a barrel
06/30/2006 - Updated 8:19 AM ET
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Crude extends gain; supply in focus for holiday
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</IMG>By Ciara Linnane, MarketWatch
NEW YORK (MarketWatch) -- Crude-oil futures were higher Friday, extending Thursday's rally, with traders focused on gasoline supplies heading into the July 4 holiday weekend, when many Americans are expected to make long driving trips.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=Commodities&guid=%7B37CD129D%2DED5F%2D460D%2DBE12%2DF11B24F6A93A%7D
 
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I paid $3 a gallon for gas this morning- the highest ever I had to pay. They jacked up the price of gas 11 cents here yesterday, cause we're moving into the holiday weekend.

We still only have one E85 pump within 50 miles of my home. I can't buy and run E85 until they get a few more pumps around. I don't care that it will give me less milage, or that cost wise per mile it doesn't save much. But I'm going to start buying it as soon as they start selling it here, just for the prinicple. Looking at some used "G" cars that use E85, so that I can buy one on GSA auto auctions on-line.

Anybody got any expereince which G cars get best milage on E85?
 
NO SIR, I DON"T LIKE IT! :mad: Nobody cares!:(
$73.71 a barrel
Oil marches toward $74
Crude prices head higher on signs of US economic strength and expectations of higher fuel demand; shipping delay adds support.
June 30 2006: 6:15 AM EDT


SINGAPORE (Reuters) -- Oil climbed towards $74 on Friday on a positive outlook for economic growth and fuel demand in top consumer the United States.
U.S. crude was up 19 cents at $73.71 a barrel, adding to a $1.33 rally on Thursday to take gains for the week to 4 percent. London Brent crude rose 31 cents to $73.19.
http://money.cnn.com/2006/06/30/markets/oil.reut/index.htm
 
Oil Prices Soar Above $75 a Barrel, Approach New Record on Geopolitical Tensions
Oil prices scooted above $75 a barrel on Wednesday, propelled toward record territory by a rally in gasoline and geopolitical tensions.
A glitch at a Texas refinery on Monday heightened the market's concern about motor-fuel supplies at a time when demand continues to rise in spite of soaring prices.
http://biz.yahoo.com/ap/060705/oil_prices.html?.v=9
 
Price of gas will jump at least another dime after oil's runup today.

How will the market digest $3.10- 3.25 regular unleaded as "the norm"?

I'm already pinched at $3.

E85 is looking better every day.
 
Man, WATCH OUT for that OIL SLICK----OIL/GAS sliding UP and UP! TSP $$$$ sliding DOWN, DOWN.:mad:
 
It's a GUSHER!
$75.19 a barrel!!:mad:

Oil closes at record above $75
Tensions over Iran, worries about North Korea, send crude soaring.
July 5 2006: 3:30 PM EDT


NEW YORK (Reuters) -- Oil closed at a record high above $75 a barrel Wednesday on strong U.S. demand and ongoing tensions over Iran's nuclear program.
U.S. crude closed $1.26 higher at $75.19 a barrel after hitting a record $75.40 a barrel trading high earlier Wednesday. The market was was closed Monday and Tuesday for the Independence Day holiday. London Brent crude was up $1.52 at $74.03.
The previous record close was on April 21, 2006.

http://money.cnn.com/2006/07/05/markets/oil.reut/index.htm?cnn=yes
 
james...GSA supplies mostly american made vehicles...smaller vehicles will get better mileage a la unleaded gasoline engines...not many stations out here in the D.C. area...about 5 in MD, VA, D.C., $3.22/gal last week but will go up undoubtedly with gasoline, increased demand.


http://www.e85fuel.com/e85101/flexfuelvehicles.php

Anybody got any expereince which G cars get best milage on E85?[/QUOTE]
 
James, my avatar is my daily driver; 10 - 12 mpg city if I keep my foot out of it. IMHO, until world political figures stop taking political kick-back contributions from all the various oil tycoons, and step up to the plate to regulate those price gouging thieves, we're all going to have to cut out dining at McDonalds and Johnny Carinos twice a month. :nuts:
So James, How many hours do you have to work now to support your daily work commute? Just about 30 minutes of my work day is devoted to funding my daily round trip. Ever look at it like that? :blink:
James48843 said:
Price of gas will jump at least another dime after oil's runup today.

How will the market digest $3.10- 3.25 regular unleaded as "the norm"?

I'm already pinched at $3.

E85 is looking better every day.
Click to expand...
 
78yo T Boone Pickens sure knows how to call it. On May 3rd, 2005 he stated the following,
"Let me tell you some facts the way I see it. Global oil (production) is 84 million barrels (a day). I don't believe you can get it any more than 84 million barrels. I don't care what (Saudi Crown Prince) Abdullah, (Russian Premier Vladimir) Putin or anybody else says about oil reserves or production. I think they are on decline in the biggest oil fields in the world today and I know what's it like once you turn the corner and start declining, it's a tread mill that you just can't keep up with."

"So, when you start adding the reserves in these countries, you're not even replacing what you're taking out."

"Let me take you to another situation quickly. 84 million barrels a day times 365 days is 30 billion barrels of oil a year that we're depleting. All of the world's (oil) industry doesn't even come close to replacing 30 billion barrels of oil. We don't spend enough money to even give ourselves a chance to replace 30 billion barrels. It may be because the prospects are not there. I rather imagine that's what the answer is to that."

"So, if you accept that 84 million barrels a day is all the world can (produce), and then look at refining capacity, I think it's just a coincidence that refining capacity... world capacity... is 84 million barrels a day. So, we're in balance: 84, 84."

"Don't let the day-to-day NYMEX (New York Mercantile Exchange) fool you, because it can turn and go the other direction. I may be wrong. Some of the experts say we'll be down to $35 oil by the end of the year. I think it'll be $60 oil by the end of the year (2005). You're going to see $3 gasoline twelve months from today (May 2006), or some time during that period. I know you've already experienced it in California. I am not that much out of it... But in the Midwest you've probably got $2.20 today (May 2005). That's the way I see it unfolding".
http://www.peakoil.net/BoonPickens.html
 
A Market Closing Comment
4:20 pm: Concerns that oil supplies to Asia could be disrupted as a result (of Iran's nuclear ambitions and the NK missle launches), coupled with a forecast for $80 oil before January 1 from famed oil trader T. Boone Pickens and concerns about a potential drawdown in weekly gas supplies for the first time in two months, helped push crude oil futures to a new all-time high of $75.40 per barrel and a close of $75.19 (+1.7%). That was oil's highest level since reaching an intraday record of $75.35 on April 24. To the dismay of the bulls, subsequent leadership from Energy -- the only sector to finish in positive territory -- was modest at best.
http://finance.yahoo.com/mo
 
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