Oil Slick Stuff

Sort by newest Sort by date
Dropped a couple of cents around here, but still around $2.45 a gal!:nuts:
 
It's NNUUTS!!!:worried:
This article was written, Monday, 27 October 2008, but nothing has changed, really goes where it wants against the numbers and trends.

What is going on in the oil market?


By Anthony Reuben
Business reporter, BBC News
999999.gif


Does anybody believe that they can predict what is going to happen to oil prices any more?
_45146024_light_crude_226.gif


In July, light sweet crude was trading above $147 a barrel and respected analysts were predicting that it was on the way to $200 a barrel.
Three months later, it is approaching $60 a barrel and a 1.5 million barrel per day cut in output by the oil producers' cartel Opec last week did nothing to stop the fall.
"All Opec confirmed for the market is how weak demand is," says the oil trader and analyst Stephen Schork.
"We're still in a hangover from the $150 party."
http://news.bbc.co.uk/2/hi/business/7692822.stm
 
Last edited:
I've come to realize that our OIL producers that are red blooded Americans, could give a rat's ass what the price of oil will do to the US's Economy..their selfish interests are in pure profit..So if the cost of domestic drilling and production cuts too deep in to their RECORD BREAKING profits..they will not explore and DRILL here...Hence leaving the US forever dependent on the majority of oil from OPEC.:mad:
 
Just take out your WALLETS and open them up so your money can be SUCKED OUT by higher energy prices, then all commodities that have to be delivered will do the same until we are BROKE!!! Let's just pray that the Senate will somehow defeat this legislation and hang the politicians that suggested it. I can't believe we are trying the same thing that has already been done in Europe and FAILED. These countries canceled the program because it resulted in tremendous inflation. Is there NO common sense in Washington?:nuts: SAY NO TO CAP and TRADE!!!!!!!!
House passes energy overhaul bill 219-212:mad::nuts:

updated 10:36 p.m. EDT, Fri June 26, 2009

WASHINGTON (CNN) -- A sharply divided House of Representatives narrowly passed a White House-backed climate change bill Friday after hours of cajoling and arm-twisting by Democratic leaders among members worried about the legislation's potential economic and political fallout.
art.capitoldomenew.gi.jpg
The House of Representatives passes an energy bill that includes a "cap-and-trade" program on emissions.

The bill passed 219-212, with virtually no Republican support.
The bill would reduce nationwide greenhouse gas emissions 17 percent by 2020 and 83 percent by 2050 through a so-called "cap-and-trade" program under which companies would buy and sell emissions credits.
Among other things, the bill would also require utilities to generate an increasing amount of power from renewable sources.
http://www.cnn.com/2009/POLITICS/06/26/house.energy/index.html
 
Last edited:
Oil edges higher on Nigeria turmoil

Futures rise after militants attack a Shell platform. International Energy Agency trims near-term demand outlook.

Last Updated: June 29, 2009: 6:20 AM ET


Click the chart for current oil prices.


LONDON (Reuters) -- Oil rose above $69 a barrel Monday after Nigeria's main militant group said it attacked a Royal Dutch Shell oil platform, outweighing a fairly bearish report from the International Energy Agency.
The Movement for the Emancipation of the Niger Delta (MEND) said in an e-mailed statement it had struck the Shell Forcados platform in the Delta state.
http://money.cnn.com/2009/06/29/markets/oil.reut/index.htm?postversion=2009062906
 
Last edited:
The additional cost to consumers will be returned to them in the form of TAX CREDITS etc. Typically energy bills will cost consumers an average of $175 a year AFTER REBATES!! How about the inflation? I JUST DON"T BUY IT!!

How the climate bill hits your wallet

Lawmakers are set to debate a sweeping energy bill Friday. This is how it may affect you.

Cutting greenhouse gases

smokestack_pollution1.ju.jpg

Reducing greenhouse gases is the main aim of the sweeping energy bill that the House passed on Friday.
An 80% reduction is what most scientists say is needed to avoid the worst effects of global warming.
Putting the nation on track to meet this goal by 2050 will cost the average American household $175 a year by 2020, according to the Congressional Budget Office.
By Steve Hargreaves, CNNMoney.com staff writer
 
Last edited:
Their coming at us from alll sides now Folks!! I'm buying a Propane MoPed!:nuts:

U.S. States Consider Gas and Oil Levies
by Ben Casselman
|
Dow Jones Newswires
|
Monday, June 29, 2009


Cash-strapped states are considering raising taxes on oil production to plug yawning budget gaps, but they face strong resistance from oil companies, which warn the moves could lead to lost jobs and higher energy prices.
Lawmakers in Pennsylvania and California have proposed what are known as severance taxes on oil and natural gas produced in their states. A tax increase took effect in Arkansas at the beginning of the year, and Alaska last year raised its oil-production tax.

http://www.rigzone.com/news/article.asp?a_id=77722&hmpn=1
 
Last edited:
Dollar rises on oil and stock gains

European data also spark recovery hopes.

Last Updated: June 29, 2009: 5:08 PM ET


Click the chart for current foreign exchange rates.

LONDON (Reuters) -- The dollar and euro climbed against the yen Monday, as gains in oil prices and U.S. stocks along with better-than-expected sentiment in Europe rekindled hopes of a global economic recovery.
That encouraged investors to sell the yen, viewed as a safe haven along with the dollar, and wade into other higher-yielding assets.
Comments from China, the single biggest holder of U.S. Treasury securities, ruling out sudden changes in its foreign exchange reserve policy bolstered the dollar against the yen earlier in the day.
http://money.cnn.com/2009/06/29/markets/dollar.reut/index.htm?postversion=2009062917
 
Last edited:
I've heard of cattle rustling- but would you believe.....Oil Rustling?

------------
http://news.yahoo.com/s/ap/20090701/ap_on_re_us/us_oilfield_theft_ring

10 arrested in oil, gas thefts at Texas companies


ODESSA, Texas – Ten people have been arrested in the theft of about $2 million worth of oil and gas condensate from oil companies and producers in West Texas.

The arrests Tuesday came following a seven-month investigation by a regional oil theft task force.

Six of the suspects face charges of federal wire fraud, mail fraud and conspiracy. Four were arrested on state money laundering charges.

Midland County Sheriff Gary Painter tells the Odessa American the suspects stole about 8,000 barrels of oil in one month alone.

Officials say the operation was a partnership between men who sold the stolen oil and gas to buyers who didn't know of the theft.
 
Oil up today the Market should follow!!:)

Oil climbs above $71 on inventory drop

Futures gain more than $1 after an industry group says U.S. stockpiles of crude fell and Nigerian militants attack oil installations.

July 1, 2009: 6:27 AM ET


Click the chart for current oil prices.


LONDON (Reuters) -- Oil rose above $71 a barrel on Wednesday following a large drop in crude inventories in the United States, the world's top energy consumer, and output disruptions from militant attacks in Nigeria.

Crude futures were trading up $1.15 to $71.04 a barrel after rising as high as $71.28. London Brent crude rose $1.15 to $70.45.
Weekly oil data from a U.S. industry group released late on Tuesday helped oil prices to reverse the day's loss, which was dragged by weak U.S. consumer confidence.
http://money.cnn.com/2009/07/01/markets/oil.reut/index.htm?postversion=2009070106
 
Last edited:
07/01/2009 - Updated 9:50 AM ET
1.gif


Crude back above $71 as U.S. inventories drop sharply API reports a drop of 6.8 million barrels in crude supplies; data from EIA ahead
1.gif


By Polya Lesova, MarketWatch

NEW YORK (MarketWatch) -- Oil futures rallied above $71 a barrel on Wednesday after the American Petroleum Institute reported a bigger-than-expected decline in crude inventories.
Light sweet crude for August delivery gained $1.71, or 2.4%, to $71.61 a barrel in electronic trading on Globex.
http://markets.usatoday.com/custom/...S&guid={95CC5E31-43B3-4190-9A00-0C556B4B4951}
 
Last edited:
You must log in or register to reply here.
Back
Top