Oil Slick Stuff

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This is despicable, but if I owned a bunch of oil I probably would do the same thing. GREED is GOOD!!:mad: NOT!!
 
Oil dips as traders weigh weak demand, Gaza clash

Oil dips to near $48 as investors weigh bad economic news, tension in the Mideast


Associated Press Writer
Wednesday January 7, 2009, 9:42 am EST

Oil prices dipped to near $48 a barrel Wednesday as investors weighed tensions in the Middle East and more bad U.S. economic news suggesting crude demand is slowing.

By mid-afternoon in Europe, light, sweet crude for February delivery was down 43 cents to $48.15 a barrel in electronic trading on the New York Mercantile Exchange. Earlier in the session it fell as low as $47.61 before rebounding.

On Tuesday, the contract slipped 23 cents to settle at $48.58.
In London, February Brent crude rose 26 cents to $50.79 a barrel on the ICE Futures exchange.
Oil prices have risen 43 percent since reaching a five-year low of $33.87 a barrel on Dec. 19 on investor concern that the conflict between Israel and Hamas in Gaza could spread to the rest of oil-rich Middle East and affect supplies.
The 11-day Israeli air and ground offensive, which has killed about 600 people, has probably added about $10 to the price of oil, said Mark Pervan, senior commodity strategist with ANZ Bank in Melbourne.
"The recent gains have been due to a one-off issue in the Middle East," Pervan said. "Once that calms down, the market could be in for a correction back toward $40."[more]
http://finance.yahoo.com/news/Oil-dips-as-traders-weigh-apf-13990393.html
 
Gas has gone up around $.15 this week at my location.
Maybe things are looking UP? Or should I say DOWN?:D


Oil prices fall on weak jobs reports

Crumbling economy and supply reductions have experts divided over whether crude has turned a corner.

By Kenneth Musante, CNNMoney.com staff writer
January 7, 2009: 9:58 AM ET




NEW YORK (CNNMoney.com) -- Oil turned lower Wednesday after two employment reports painted a dismal employment picture in December.
Crude for February delivery fell $1.12 to $47.46 a barrel in electronic trading as concern about falling demand caused by poor economic activity began to reassert itself.
Job losses rose more than 45% in December over the prior month, according to payroll firm ADP. In addition, the number of announced job cuts last month was more than four times greater than in 2007, according to outplacement firm Challenger, Gray & Christmas.
Unemployment will continue to rise "significantly" into 2010, according to minutes from the Federal Reserve's December meeting, released late Tuesday. The Fed also said that the U.S. gross domestic product, a broad measurement of economic activity, will fall in 2009.
"It was a reminder of how bad the economy is," said Phil Flynn, senior market analyst with Alaron Trading in Chicago. "There's nothing about this financial crisis that bodes well for energy prices and energy demand."
Demand: The job reports and Fed's comments put investor attention squarely back on falling demand, a worry that has driven oil prices down from a record high of $147.27 a barrel last summer, according to Flynn.
A government inventory report to be released at 10:30 a.m. ET is expected to show a 1.5 million barrel build up of U.S. crude stockpiles, indicative of declining demand, according to analysts polled by research firm Platts.[more] http://money.cnn.com/2009/01/07/markets/oil/index.htm?postversion=2009010709
 
nnuut said:
Big drop in the price of Oil as expected!!
I LIKE IT!!! View attachment 5379
Click to expand...
Here is one of the reasons:

Oil tumbles on inventory surge

Government report shows buildup in crude supplies, an additional sign that demand is falling.

By Kenneth Musante, CNNMoney.com staff writer
Last Updated: January 7, 2009: 10:53 AM ET

NEW YORK (CNNMoney.com) -- Oil dropped sharply Wednesday after a government report showed a much larger than expected increases in crude and gasoline stockpiles, a sign that demand for oil has fallen significantly.
Crude for February delivery fell $3.56 to $45.02 a barrel in electronic trading.
The government said crude stockpiles rose by 6.7 million barrels for the week ended Jan. 2, indicative of declining demand.
Experts had expected a rise of 1.5 million barrels, according to according to a poll by research firm Platts.
Supplies of gasoline rose by 3.3 million barrels, while supplies of distillates, which are used to make diesel fuel and home heating oil, rose by 1.8 million barrels.
The Platts survey expected a gasoline supply increase of 1.6 million barrels, while stocks of distillates had been expected to rise by 700,000 barrels.
Economy: [more]
http://money.cnn.com/2009/01/07/markets/oil/index.htm?postversion=2009010710
 
Oil tumbles 12% on still-growing supply

Government report shows huge buildup in crude supplies, an additional sign that demand is falling.

By Kenneth Musante and David Goldman, CNNMoney.com staff writers

Last Updated: January 7, 2009: 3:39 PM ET

NEW YORK (CNNMoney.com) -- Oil prices fell in one of the biggest single-day declines in history Wednesday, after a woeful supply report gave previously bullish investors little reason to believe oil would sustain a rally anytime soon.

U.S. crude for February delivery fell $5.95, or 12.3%, to settle at $42.63 a barrel, a day after soaring past $50 in intraday trading. [more]
http://money.cnn.com/2009/01/07/markets/oil/index.htm?postversion=2009010715
 
Buster said:
I think Jim suffers from acute paranoia:cool::D

Check out this Video when you can..I thought it was pretty good.

Eagle Eye
Click to expand...

Like I said- it's not paranoia if they really are watching you.

from: http://travel.yahoo.com/p-interests-24971907

A rare peek at Homeland Security's files on travelers


Is this useful information, or a waste of time?

By Sean O'Neill


32.jpg


Associated Press

More from BudgetTravel.com

More from Yahoo!

The oversize white envelope bore the blue logo of the Department of Homeland Security. Inside, I found 20 photocopies of the government's records on my international travels. Every overseas trip I've taken since 2001 was noted.

I had requested the files after I had heard that the government tracks "passenger activity." Starting in the mid-1990s, many airlines handed over passenger records. Since 2002, the government has mandated that the commercial airlines deliver this information routinely and electronically.

A passenger record typically includes the name of the person traveling, the name of the person who submitted the information while arranging the trip, and details about how the ticket was bought, according to documents published by the Department of Homeland Security. Records are made for citizens and non-citizens who cross our borders. An agent from U.S. Customs and Border Protection can generate a travel history for any traveler with a few keystrokes on a computer. Officials use the information to prevent terrorism, acts of organized crime, and other illegal activity.

I had been curious about what's in my travel dossier, so I made a Freedom of Information Act (FOIA) request for a copy.

My biggest surprise was that the Internet Protocol (I.P.) address of the computer used to buy my tickets via a Web agency was noted. On the first document image posted here, I've circled in red the I.P. address of the computer used to buy my pair of airline tickets.


More: http://travel.yahoo.com/p-interests-24971907
 
Last edited:
Interesting article concerning Homeland Security, but I can understand why the author might have been more thoroughly scrutinized than an "occasional" traveler. Since Sean O'Neill is a frequent-flyer (to the nth degree), his name on an airline travel manifest should definitely red-flag the system. It is sad that these extreme measures are necessary to protect all of us from being blown up by terrorists.

I noticed that his personal file did not reveal credit card account numbers used for purchasing airline tickets or hotel stays. But he said he was "surprised" to see that his computer's IP address was shown in the report... I'm surprised that he was surprised. An IP address is more "public" than telephone numbers in a phone book. It's looked at by somebody every time a computer hits the web, and mostly by people without homeland security credentials. (ain't that right, Tom C.?):D Personally, I hope they check me out closely, and anybody else who boards airplanes. Nothing to hide here.
http://current.newsweek.com/budgettravel/authors/sean_oneill/

Hey nnuut, you'd better check us all out for hy-jacking your thread. Thanks for the free ride.:nuts:

​
 
This thread is open to anything, not a formal thread. You can think of it this way, if this thread is limited to discussing subjects dealing with energy. Then you can write about Natural Gas, Crude Oil, Fuel Oil, Gasoline, Diesel, Electricity, Wind Power the list goes on and on. How about Barbque, oh yes it can be discussed, you may use charcoal, Bottled Gas, electricity to BBQ, and consider that BBQ may at times create its own GAS!!:sick: Feel free!:cool:
 
nnuut said:
This thread is open to anything, not a formal thread. You can think of it this way, if this thread is limited to discussing subjects dealing with energy. Then you can write about Natural Gas, Crude Oil, Fuel Oil, Gasoline, Diesel, Electricity, Wind Power the list goes on and on. How about Barbque, oh yes it can be discussed, you may use charcoal, Bottled Gas, electricity to BBQ, and consider that BBQ may at times create its own GAS!!:sick: Feel free!:cool:
Click to expand...
Thanks again, nnuut!
In that case, since these pics resulted in providing some "heat" and Melissa says she "loves the energy", I think this merits further discussion in your thread, too.

View attachment 5386
​
 
Oil drops 3 percent on economic gloom

  • Thursday January 8, 2009, 11:54 am EST
NEW YORK (Reuters) - Oil fell 3 percent on Thursday as deepening economic gloom and soaring crude inventories in the United States eclipsed geopolitical tensions that have put world supplies at risk.
74.jpg
Gas splashes while a man fills petrol in a gas can at a filling station in Puchheim westward of Munich December 12, 2008. REUTERS/Michaela Rehle

The losses add to Wednesday's 12 percent drop, which marked the biggest daily percentage decline in the price of crude oil in more than seven years.
"This morning crude was trying to rally a bit, but more (economic) figures kept coming out from the U.S. and they were very bearish indeed," said Sucden trader Rob Montefusco.
U.S. crude for February delivery fell $1.30 to $41.33 a barrel by 11:47 am EST while London Brent crude fell $1.21 to $44.65.
Oil prices have dropped more than $100 a barrel since July as a global financial crisis cuts consumer and business energy demand, threatening to shrink total world oil usage for the first time in 25 years.
On Thursday, a U.S. government report showed the number of people remaining on jobless rolls last week rose to a 26-year high, even as new claims for unemployment benefits slipped.
Adding to the economic gloom, Wal-Mart Stores Inc (NYSE:WMT - News), which accounts for a tenth of U.S. retail spending, reported a disappointing sales performance in December and cut its earnings outlook.
Oil had taken a battering Wednesday after the U.S. Energy Information Administration's weekly report showed crude stocks up 6.7 million barrels, more than seven times the 900,000-barrel increase analysts expected.
"Brent is done going under $40, but WTI is a different animal altogether...crude stocks in the Midwest are very high because Cushing is a landlocked base with pipes that only go in one direction," Christopher Bellew of Bache Financial said.
SUPPLY RISKS [more] http://finance.yahoo.com/news/Oil-drops-3-percent-on-rb-14005349.html
 
Oil prices extend declines

Crude falls as the latest economic report paints a dismal picture, inflating demand worries.

By Kenneth Musante, CNNMoney.com staff writer
Last Updated: January 8, 2009: 3:07 PM ET

NEW YORK (CNNMoney.com) -- Oil prices extended their declines Thursday as further signs of economic weakness signaled a slowdown in demand.
U.S. crude for February delivery fell 93 cents to settle at $41.70 a barrel after earlier being down as much as $1.89 a barrel. On Wednesday, a report of a larger-than-expected supply buildup sent prices falling $5.95, or more than 12%.
The Labor Department reported Thursday that 467,000 people filed for unemployment benefits last week, which was fewer than expected, but still much higher than the 330,000 claims filed in the same week a year ago.
Investors were looking to Thursday's jobless claims numbers along with Friday's jobs report to get a sense of how much demand has fallen, said Nimit Khamar, analyst with Sucden Financial in London.
Essentially, any bad news inflates recessionary jitters.
"People are expecting large losses. It's always worse when you see the massive numbers," said Khamar.
Economy in focus: [more]
http://money.cnn.com/2009/01/08/markets/oil/index.htm?postversion=2009010815
 
Nationwide average price of gasoline continues to creep upwards...


ch.gaschart


I hate how quickly it jumps when the price of a barrel of oil spikes, yet takes forever to fall when NYMEX oil drops.....
 
You know what really bugs me though-

is when the price of a quart of oil, which HAD been about $1.59, jumped up to $3.89 back when gasoline hit $4.25 a gallon.

vlv_129_0925.jpg


And now here we are, six months later, and the price of a barrel of oil has dropped, and the price of gasoline has dropped.....but the price of a quart of oil??

STILL $3.89 a quart.

I am stretching out my next oil change in hopes of some relief.....
​
 
IMO..it's greed from our oil companies..they can't make record breaking profits with gasoline at $1.29 like it was a couple weeks ago and oil below $50.00/bbl..Nothing but greed.:mad::mad:
 
Might be a little cold in Europe (expensive), but it looks like our Friends in Russia are going to open up the Gas Lines to Europe. :cool:

Gas expected to start flowing in Europe

Russia agrees to allow Europe to monitor natural gas shipments through Ukraine, the first step that many hope will restore flows to the West.

January 9, 2009: 6:37 AM ET

MOSCOW/KIEV, Jan 9 (Reuters) -- Europe sought a swift restoration of gas supplies on Friday after striking a deal with Moscow on monitoring gas shipments via Ukraine that have been halted by a pricing dispute with Kiev.
A spokesman for Prime Minister Vladimir Putin confirmed on Friday that Russia had agreed that the monitors - including representatives from the European Commission, Russia and Ukraine - should be deployed to ensure the smooth flow of gas.
"Yesterday Putin and (Czech Prime Minister Mirek) Topolanek spoke and in the course of that discussion they came to a common view that a monitoring mission will be formed and dispatched," the spokesman said.
Diplomats in Prague said the European monitors would be sent to Ukraine on Friday to be deployed at the main metering stations for gas arriving from Russia.
The monitors agreement "should lead to the Russian supplies of gas to EU member states being restored," the Czech EU presidency said in a statement late on Thursday.
The apparent breakthrough came after talks between Topolanek, German Chancellor Angela Merkel and Putin.
But Russian officials have said even once the monitors are in place, it could take many hours and possibly days before gas Russian gas shipped via Ukraine starts reaching Europe again.
The gas is likely to be delivered only to European customers, not Ukraine itself, since Moscow and Kiev have yet to agree a price for Russian gas, subsidized since Soviet times. Putin on Thursday again demanded Ukraine pay the going market rate.
But the presence of monitoring missions at points along the transit routes for Russian gas will reassure Moscow that the gas it is pumping across Ukraine to European customers is not being siphoned off by Kiev.
Moscow cited this allegation - denied by Kiev - as its reason for completely shutting off gas flowing across Ukraine to European customers earlier this week.
Hundreds of thousands without gas [more]
http://money.cnn.com/2009/01/09/new..._natgas.reut/index.htm?postversion=2009010906
 
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