Oil Slick Stuff

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Numbers from NYMEX today seem a little strange!!:confused:

9/15/2008 Session Contract Detail for Oct 8
NYMEX Light Sweet Crude:
12:12 99.18 -2.00:D
9/15/2008 Session Contract Detail for Oct 8
NYMEX NYH RBOB Gasoline:
12:08 2.3658 -.1338
 
I see on the news some places south of the Mason/Dixon, that gas stations are jacking prices up to $5.00 and $6.00/gallon....:mad::mad::mad:

Them durty bastards!!!!!!




Gas today here was ..$3.599/gal
 
I bought today for $$4.39 9/10, that's the cheapest I can find. $7 for lawn mower gas, 1.59 Gallons!!:blink:
 
Many stations where I live are either completely out of gas or are out of regular unleaded gas. Most prices are 4.29 for regular unleaded.
 
Just topped off the autos for 3.49 a gallon. All my gas cans were already full. I can go at least an entire month before needing gas.

Now all I have to do is tune up the road bicycle, so I can ride around during work :cheesy:

If gas prices get above 4.00 then I'll ride my bike, or the bus to work.
 
JTH said:
I can go at least an entire month before needing gas.

Now all I have to do is tune up the road bicycle, so I can ride around during work :cheesy: I'll ride my bike, or the bus to work.
Click to expand...


I hope everyone does exactly like you..that's a good plan.:)
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Here they go again!!:mad:

updated 1:35 p.m. EDT, Sun September 14, 2008

  • Nigeria rebels declare 'oil war'
    NEW: Rebels say soldiers killed in attacks; AP says military disputes death claims

  • Nigerian forces attacked its positions in the Rivers State on Saturday
    It said this prompted deployment of heavily armed fighters in hundreds of war boats
  • Largest rebel group in Nigeria has targeted foreign oil companies since 2006
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LAGOS, Nigeria (CNN) -- Nigeria's main rebel group declared Sunday an "oil war" in the west African nation in response to what it said were "unprovoked" attacks by Nigerian government forces a day earlier.
The Movement for the Emancipation of the Niger Delta issued an e-mail statement saying it attacked several oil installations, making good on a previous threat that any attack on its positions "will be tantamount to a declaration of an oil war."
It said Nigerian forces attacked its positions in the Rivers State on Saturday, prompting MEND to deploy "heavily armed fighters in hundreds of war boats" with the intention of carrying out "destructive and deadly attacks on the oil industry in Rivers State."
Don't Miss
Nigerian militants claim 29 soldiers dead; military disagrees
As part of its operation -- dubbed "Hurricane Barbarossa" -- MEND said it intercepted 22 Nigerian soldiers at the Soku Gas Plant, Chevron Platform, at Kula. It said the soldiers were "killed and dispossessed of their weapons," but was not specific. It also said it blew up several points on the major crude trunk pipeline at Nembe Creek.
"The operation will continue until the government of Nigeria appreciates that the solution to peace in the Niger Delta is justice, respect and dialogue," MEND said. [more]
http://www.cnn.com/2008/WORLD/africa/09/14/nigeria.oil.war/index.html
 
Looks like California is no longer tops in prices across the US- there are several states now above $4.25 again.


Locally, I saw $4.39 this afternoon.​

How about you? Can you top that?​

Here is Gasbuddy's report from my area:​


I think it's REALLY going to spike up when the refineries that are shut down can't replenish our supply.​

Note: the good news is that I only buy E85 ethanol fuel, which currently sells here for $3.09.​
 
For what it is worth-

As of noon today, 99.7% of all Gulf of Mexico oil and gas production, and 92% of Gulf area refining capacity, is currently off line.

Click on the "Sept 14 situation report" from the Department of Energy:

http://www.oe.netl.doe.gov/named_event.aspx?ID=20

In additon, 95% of Houston area electrical power is out.

This will be awhile before it's back on -line.

Hope your fuel tank is already full, the prices will go nowhere but up....

As they say- you ain't seen nothin yet.

I wouldn't be surprized to see $6 prices and soon to be wide-spread shortages out of this wave in many areas served by Gulf refineries....
 
Some real scalping going on today:




Tenesee:​


South Carolina
View attachment 4677​



You think those prices are high- just wait until tomorrow, when the fuel runs out in those states....

"Drill Drill Drill" doesn't do you any good when you can't get the refining capacity going, or the pipeline capacity going, or the crude to the refineries in the first place.

One more reason why we need to get off of oil, and onto renewable fuels like Ethanol.
 
I found this clip over on Yahoo-

says 10 platforms in the Gulf were destroyted:

"The hurricane also battered the heart of the U.S. oil industry as Ike destroyed at least 10 production platforms, officials said. Details about the size and production capacity of the destroyed platforms were not immediately available, but the damage was to only a fraction of the 3,800 platforms in the Gulf."

That's the first time I've seen anything saying that any platforms were destroyed. Anyone else see any info on that?

And this - from Reuters last night:


Texas oil refineries could be down 9 days: U.S. senator

Sun Sep 14, 2008 11:13am EDT

WASHINGTON (Reuters) - Texas oil refineries disabled by the massive Hurricane Ike could remain idled for up to nine days and Americans should brace for possible gas shortages, U.S. Sen. Kay Bailey Hutchison said on Sunday.
"We are looking at another week or eight or nine days before refineries are up and going, so refined gasoline is going to be in a shortage situation because of the power outages and flooding," the Texas senator said on CBS' "Face the Nation."
"It is going to be felt for the next week, that we have gasoline shortages, so people need to be prepared for that."


More: http://www.reuters.com/article/marketsNews/idUSN1330721620080914?sp=true
 
Like $95 But this is nnuuts!:confused:

Oil tumbles below $95 after Ike passes

Crude futures down sharply as preliminary reports show Hurricane Ike may not have hit as hard as feared.

By Catherine Clifford, CNNMoney.com staff writer
Last Updated: September 15, 2008: 7:35 AM EDT
Refinery shutdowns underway


crudeoil.mkw.gif


NEW YORK (CNNMoney.com) -- Oil prices fell sharply Monday after initial reports that Hurricane Ike did not do as much damage as was originally feared to the Gulf Coast region.
In addition, the next chapter in Wall Street's tale of woes adds fuel the economic slowdown that has been crippling demand for the oil market.
Oil was trading down $6.68 to $94.50 a barrel from Friday's settlement price of $101.18.
Oil prices started their slide in a special early-start Sunday electronic trading session that was set up in order for the oil market to assess damage from Hurricane Ike.
Electronic trading usually starts at 6 pm ET on Sunday, but started at 10 am instead. By mid-afternoon, oil had already traded as low as $98.55.
Ike: Hurricane Ike slammed the Texas Gulf Coast on [more]
http://money.cnn.com/2008/09/15/markets/oil/index.htm?cnn=yes
 
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