Oil Slick Stuff

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Frixxxx said:
Exaclty how many barrels of reduction can the oil market take. I mean come on....They're almost not even pumping it now:suspicious:

And now that oil is being oppressed & suppressed, why is the dollar not getting SUPER strong?

Inquiring minds want to know!
Click to expand...

We will definately reach a point where supply and demand will react with higher prices if the supply continues to drop.
I believe that the value of the Dollar drives the price of petrolium products not the other way around. If dollar gets stronger the price of oil falls and visa versa, along with the price of GOLD. :cool:
 
Oil rises as OPEC cuts production

Survey reveals near-70% compliance with 4.2 million barrel-per-day production cut.

By Kenneth Musante, CNNMoney.com staff writer
Last Updated: February 3, 2009: 3:08 PM ET

NEW YORK (CNNMoney.com) -- Oil prices rose Tuesday as signs of OPEC production cuts began to emerge. But gains were tempered as the group fell short of its pledge and the economy continued to show weakness.
U.S. crude for March delivery ended the day up 70 cents to $40.78 a barrel in New York.
The Organization of Petroleum Exporting Countries pumped an estimated 26.23 million barrels per day in January, down from 27.24 million the month before, according to a Reuters oil company survey Tuesday.
"I think it's a positive surprise so far," said Tom Orr, head of research for trading firm Weeden & Co. But, he added, "We still need to see what February looks like."
OPEC, whose members produce about 40% of the world's crude, has been scrambling to put a floor under prices as a weak global economy stifles demand, sending prices plummeting from a record high of $147.27 a barrel last summer.
Cut compliance: OPEC pledged in December to cut production by 2.2 million barrels a day during the month of January, on top of a previously announced cut of 2 million barrels per day last year.[more] http://money.cnn.com/2009/02/03/markets/oil/index.htm
 
nnuut said:
We will definately reach a point where supply and demand will react with higher prices if the supply continues to drop.
I believe that the value of the Dollar drives the price of petrolium products not the other way around. If dollar gets stronger the price of oil falls and visa versa, along with the price of GOLD. :cool:
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That's what I'm saying, Yes gold is still in it's inflated position, but oil is 1/3 of it's high. The dollar SHOULD BE a powerhouse right now. Yet, it is not making progress in the currency market AND it's not crushing the pound.

If and when the dollar is trusted again, watch out "I" fund.
 
The dollar has made some big gains off of it's low in December. The price of oil at $150 was artifically inflated due to speculation and exit to safety by battered investors. We have had a short down trend in the dollar lately, but that doesn't explain Oil prices falling and Gas prices rising during a glut in supply, it's a mystery to me.:cool:
http://quotes.ino.com/chart/?s=NYBOT_DX
 
Lithum Reserves in Bolivia (for Hybrid engine Batteries).


In Bolivia, Untapped Bounty Meets Nationalism
New York Times
UYUNI, Bolivia — In the rush to build the next generation of hybrid or electric cars, a sobering fact confronts both automakers and governments seeking to lower their reliance on foreign oil: almost half of the world’s lithium, the mineral needed to power the vehicles, is found here in Bolivia — a country that may not be willing to surrender it so easily......

http://www.nytimes.com/2009/02/03/world/americas/03lithium.html?th&emc=th
 
Silverbird said:
Lithum Reserves in Bolivia (for Hybrid engine Batteries).


In Bolivia, Untapped Bounty Meets Nationalism
New York Times
UYUNI, Bolivia — In the rush to build the next generation of hybrid or electric cars, a sobering fact confronts both automakers and governments seeking to lower their reliance on foreign oil: almost half of the world’s lithium, the mineral needed to power the vehicles, is found here in Bolivia — a country that may not be willing to surrender it so easily......

http://www.nytimes.com/2009/02/03/world/americas/03lithium.html?th&emc=th
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I guess there is none in the Great Salt Lake in Utah, or the Bonneville Salt Flats? Nah, if there is the Tree Huggers wouldn't let us touch it.:cool: copy_of_dancinman4.gif
 
nnuut said:
I guess there is none in the Great Salt Lake in Utah, or the Bonneville Salt Flats? Nah, if there is the Tree Huggers wouldn't let us touch it.:cool:
Click to expand...
Maybe if we switched back to steam, those tree huggers would have to find something else to hug???:laugh:
 
What's the matter Hugo, nobody wants your Oil?
We should NOT buy from this man!

Chavez doubts U.S. can shake oil needs

  • Chavez: The United States needs petroleum "like air, like oxygen to live, to survive"
    The United States is a major Venezuelan oil consumer
    Chavez says he would be willing to talk with Obama
  • Chavez expects to win referendum to amend constitution for third term
CARACAS, Venezuela (CNN) -- Venezuelan President Hugo Chavez said he supported U.S. President Barack Obama's efforts to find alternative energy sources but doesn't believe the United States can do it.
art.chavez.cnn.jpg
Venezualan President Hugo Chavez said improved relations depend on the United States.

"I don't know how he will achieve what he said he would," Chavez said in an exclusive 30-minute interview with CNN en Espanol's Patricia Janiot Monday night. "It's very difficult for the United States to diminish its use of oil."
The United States, a major Venezuelan oil consumer, needed petroleum "like air, like oxygen to live, to survive," Chavez said.
"We employ thousands of workers in the United States," Chavez said. "We give aid to hundreds of thousands of poor families in the United States with our heating oil program."
Chavez added that also isn't worried about the falling price of crude oil because there is such worldwide hunger for petroleum.
"The world will need to sustain its industrial rhythm," he said.
Chavez certainly hopes that's the case. Oil revenues account for about 90 percent of Venezuela's export earnings, about half of federal budget revenues and some 30 percent of gross domestic product, according to the CIA Factbook.
Chavez, who once called former President George W. Bush "the devil," welcomed talks with Obama, saying, "I wish we could restore relations to the same level we had with President Clinton," referring to the 1993-2001 years.

But improved relations depended on the United States, Chavez said.
"We won't accept disrespect from anyone," he said, adding that respect from the United States must include all of Latin America.
On the domestic front, Chavez said he expected to win the February 15 referendum to amend the constitution so he can run for a third six-year term in 2012. But he's willing to accept any outcome, Chavez said.
"If we lose, we lose," he said, but declined to rule out calling for another referendum if he does not succeed this time.
Venezuelans narrowly rejected a similar measure in a December 2007 referendum. [more] http://edition.cnn.com/2009/WORLD/americas/02/03/venezuela.chavez/index.html
 
Oil rises as OPEC cuts production

A recent survey shows near-70% compliance among oil producers with the organization's 4.2 million barrel-per-day production cut.

By Kenneth Musante, CNNMoney.com staff writer
Last Updated: February 3, 2009: 3:36 PM ET

NEW YORK (CNNMoney.com) -- Oil prices rose Tuesday as signs of OPEC production cuts began to emerge. But gains were tempered as the group fell short of its pledge and the economy continued to show weakness.
U.S. crude for March delivery ended the day up 70 cents to $40.78 a barrel in New York.
The Organization of Petroleum Exporting Countries pumped an estimated 26.23 million barrels per day in January, down from 27.24 million the month before, according to a Reuters oil company survey Tuesday.
"I think it's a positive surprise so far," said Tom Orr, head of research for trading firm Weeden & Co. But, he added, "We still need to see what February looks like."
OPEC, whose members produce about 40% of the world's crude, has been scrambling to put a floor under prices as a weak global economy stifles demand, sending prices plummeting from a record high of $147.27 a barrel last summer.
Cut compliance:[more]
http://money.cnn.com/2009/02/03/markets/oil/index.htm?postversion=2009020315
 
Oil ticks higher ahead of supply report

Signs of OPEC production cuts begin to emerge amid suffering demand.

By Julianne Pepitone, CNNMoney.com contributing writer
February 4, 2009: 8:44 AM ET

BP reports $3.3B loss


NEW YORK (CNNMoney.com) -- Oil prices ticked higher Wednesday as OPEC production cuts offset worries about demand.
The Organization of Petroleum Exporting Countries, whose members produce about 40% of the world's crude, has been pressured to put a floor under prices as a weak global economy kills demand and stockpiles grow.
U.S. crude for March delivery was up 38 cents to $41.16 a barrel in early morning trading.
The troubled economy has sunk demand, which in turn has caused a large buildup in crude supplies. The Energy Information Administration will release its weekly inventory report at 10:30 a.m. ET, and it's expected to show supplies of crude oil rose by 2.9 million barrels last week, according to a survey of analysts from research group Platts.
Meanwhile, OPEC pumped an estimated 26.23 million barrels per day in January, down from 27.24 million the previous month, according to a Reuters oil company survey released Tuesday.
OPEC's recent cuts, which were announced in December, come on top of a previously announced cut of 2 million barrels per day in 2008. The moves aim to bring parity to the current oversupply and ailing demand. http://money.cnn.com/2009/02/04/markets/oil/index.htm?postversion=2009020408
 
Oil off its highs on supply report

Crude supplies rose more than expected, but gasoline stocks increased only slightly.

By Julianne Pepitone, CNNMoney.com contributing writer
Last Updated: February 4, 2009: 10:53 AM ET

NEW YORK (CNNMoney.com) -- Oil prices remained higher Wednesday, but off their peaks, after the nation's oil supply rose more than expected.
U.S. light crude for March delivery was up 25 cents to $41.03 a barrel. Oil traded up 77 cents just prior to the report's release.
The troubled economy has sunk demand, which in turn has caused a large buildup in crude supplies. Oil prices have plummeted from a record high of $147.27 a barrel last summer.
In its weekly inventory report, the Energy Information Administration said crude stocks rose 7.2 million barrels in the week ended Jan. 30. Analysts were looking for an increase of 2.9 million barrels of crude oil, according to a consensus estimate of industry analysts surveyed by Platts, a global energy information provider.
Crude oil inventories were above the upper limit of the average range for this time of year, the report said.
The Organization of Petroleum Exporting Countries, whose members produce about 40% of the world's crude, has been pressured to put a floor under prices as stockpiles grow.
OPEC pumped an estimated 26.23 million barrels per day in January, down from 27.24 million the previous month, according to a Reuters oil company survey released Tuesday.
OPEC's recent cuts, which were announced in December, come on top of a previously announced cut of 2 million barrels per day in 2008. The moves aim to bring parity to the current oversupply and ailing demand.
The EIA report also said stockpiles of gasoline rose by 300,000 barrels last week, with the total supply being in the upper half of the average range. Analysts were looking for an increase of 1.3 million barrels.
Distillates, used to make heating oil and diesel fuel, decreased by 1.4 million barrels. Analysts were looking for a decrease of 1.2 million barrels. The total supply was above the upper limit of the average range for this time of year. http://money.cnn.com/2009/02/04/markets/oil/index.htm?postversion=2009020410
 
Frixxxx said:
Maybe if we switched back to steam, those tree huggers would have to find something else to hug???:laugh:
Click to expand...
Ask the Geological Survey, you need to look at Prehistoric Seas. We DO have some supplies of Lithium. I don't think we are a big manufacturer of lithium batteries, so that might be why we aren't involved in this, or it might be we are using what we have. I'm not an expert in batteries or chemicals. I wouldn't trust that stuff from Bolivia, not only because it might be nationalized tommorow, but because Lithium is nasty stuff and needs to be handled properly. Batteries are fun and educational; made from very explosive, volitile (ask the laptop manufacturers what happens when someone gets the formula wrong), and toxic substances (breathe in lots of the salts in raw form and die a slow nasty death, according to my sig other in Health and Safety). I just can't see Bolivia following OSHA protocols (or even anything close), can you?
 
Yeah, that would run the price up, but I wouldn't like my laptop to explode, or my car for that matter!!:worried:
 
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