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nnuut said:
Just seen on CNN (out sick today) that BP has hit a HUGE GUSHER in the Gulf of Mexico that can develop into something really big in the near future!!! OH YEAH DRIVE THAT PRICE DOWN!!!:D

Here it is on rigzone.com:
BP Makes Giant Deepwater Discovery with Tiber
BP

Wednesday, September 02, 2009







BP has made a giant oil discovery at its Tiber Prospect in the deepwater Gulf of Mexico.
The well, located in Keathley Canyon block 102, approximately 250 miles (400 kilometers) southeast of Houston, is in 4,132 feet (1,259 meters) of water. The Tiber well, drilled by Transocean's Deepwater Horizon semisub, was drilled to a total depth of approximately 35,055 feet (10,685 meters) making it one of the deepest wells ever drilled by the oil and gas industry. The well found oil in multiple Lower Tertiary reservoirs. Appraisal will be required to determine the size and commerciality of the discovery.
http://www.rigzone.com/news/article.asp?a_id=79913&hmpn=1
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I see that this making the news today..
 
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DAWG51 said:
re: oil rigs in the gulf - They also make terrific fishing reefs! Pump away! :D
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Very True...They have also been proven to encourage Shrimp to spawn more because of the lights coming from the rigs at night..The Shrimp fishing gets really good around the rigs...;)
 
09/02/2009 - Updated 3:16 PM ET
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Crude ends unchanged after inventory report, Gasoline rises as data show higher consumption
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By Moming Zhou, MarketWatch & Myra P. Saefong, MarketWatch

NEW YORK (MarketWatch) -- Crude-oil futures ended Wednesday's volatile trading unchanged after government data showed crude inventories declined less than expected last week as imports jumped again.
Gasoline futures rose 1.5% as the data showed U.S. gasoline demand jumped more than 4% last week to the highest level in three months, resulting in a sharp decline in gasoline inventories.
http://markets.usatoday.com/custom/...S&guid={2805706C-89D4-4C4A-8A36-5F4D96428994}
 
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There will be job opportunities for some, which is good news. I'll bring back some of the profits to the States via dividends, became a tiny tiny BP shareholder as of this year. Messed up tho and bought in the taxable account, shoulda bought in the Roth acct. but goofed up a few other trades so any dividends can help offset those losses? Hey, I'm learning, never bought a stock or ETF in my life til this year. Tax time here we come, still do my own-so far. :rolleyes:
 
Buster said:
Very True...They have also been proven to encourage Shrimp to spawn more because of the lights coming from the rigs at night..The Shrimp fishing gets really good around the rigs...;)
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Bubba: Anyway, like I was sayin', shrimp is the fruit of the sea.

You can barbecue it, boil it, broil it, bake it, saute it.

Dey's uh, shrimp-kabobs,
shrimp creole,
shrimp gumbo.
Pan fried,
deep fried,
stir-fried.

There's pineapple shrimp,
lemon shrimp,
coconut shrimp,
pepper shrimp,
shrimp soup,
shrimp stew,
shrimp salad,
shrimp and potatoes,
shrimp burger,
shrimp sandwich.

That- that's about it.
 
alevin said:
There will be job opportunities for some, which is good news. I'll bring back some of the profits to the States via dividends, became a tiny tiny BP shareholder as of this year. Messed up tho and bought in the taxable account, shoulda bought in the Roth acct. but goofed up a few other trades so any dividends can help offset those losses? Hey, I'm learning, never bought a stock or ETF in my life til this year. Tax time here we come, still do my own-so far. :rolleyes:
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I think it should pay you well...
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BP Makes "Giant" Oil Find in Gulf of Mexico

by Tom Bergin
BP, the biggest oil producer in the U.S. and biggest leaseholder in the Gulf of Mexico, has a 62 percent working interest in the block, while Brazilian state-controlled Petrobras owns 20 percent and U.S. oil major ConocoPhillips owns 18 percent.
http://finance.yahoo.com/news/article/107659/bp-makes-giant-oil-find-in-gulf-of-mexico
 
Buster said:
I think it should pay you well...
love4.gif


BP Makes "Giant" Oil Find in Gulf of Mexico
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Giggle, Squale, where's all those special smilies you've got tucked away? I need one. Buster's trying reeeally hard to get my attention now that I'm suddenly a wealthy woman. Silly boy. :toung:
 
Nothin' better than a GOOD LOOKIN' RICH Woman!!:D


Oil futures hold above $68 on GlobexStrong U.S. gasoline demand offsets small crude-oil-supply decline
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By Myra P. Saefong, MarketWatch

TOKYO (MarketWatch) -- Crude-oil futures traded modestly higher in electronic trading Thursday afternoon in Asia, holding their ground above $68 as U.S. gasoline demand offset pressure from a smaller-than-expected fall in the nation's crude supplies.
Crude for October delivery was up 23 cents at $68.28 a barrel on Globex by Thursday afternoon in Tokyo. The contract finished unchanged at $68.05 on the New York Mercantile Exchange Wednesday.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7BA4BEEFD0%2D36D9%2D4EAB%2D8699%2DE1516D022851%7D
 
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Gas today down to $2.20..a .13 drop overnight.:)


OIL down, MARKETS are up...so, there ya go!
 
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Energy prices slide as US sheds jobs

Oil prices fall after report shows US unemployment rate reaching 26-year high

  • On Friday September 4, 2009, 10:46 am EDT
NEW YORK (AP) -- Oil prices fell on Friday after the U.S. government reported that the unemployment rate moved to a 26-year high, raising fresh concerns that energy demand will remain weak even if the economy is heading out of the recession.

http://finance.yahoo.com/news/Energ...84.html?x=0&sec=topStories&pos=4&asset=&ccode=
 
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:mad:
Why $200 Oil Is Just Around the Corner
Rigzone Staff
|
Friday, September 04, 2009

jeff_rubin.jpg
Jeff Rubin
Jeff Rubin believes that oil prices are going to escalate much higher. In his book Why Your World is About to Get a Whole Lot Smaller, Rubin foretells $200 oil and a vastly transformed global economic picture coming into focus very soon.
The premise of Rubin's book is that oil is a finite resource and so-called "easy" oil is waning. Inevitably production will be unable to keep up with the growing demand worldwide, and the price of oil will skyrocket.
The chief economist at CIBC World Markets in Canada for 20 years, Rubin correctly predicted the price of oil reaching $50 in 2005 and $100 in 2007. No one believed him then, either.
"There continues to be widespread skepticism regarding my oil price forecast," Rubin told Rigzone. "As I noted in the book, few people have ever changed their minds during the entire history of the peak oil debate, at least insofar as 'experts' are concerned."
Peak Oil Pushes New Frontiers

Pointing out that 1966 was the peak in the discovery of new oil fields, Rubin also states that production declines every year by about 4 million barrels per day because of depletion. In order to replace what is currently being pumped, the industry must in the next five years discover reserves that will top 20 million barrels of oil a day.
In an effort to replace production, exploration and development have been pushed to much harder to produce ultra-deepwaters and equally difficult to refine oil sands. While new developments have been made to enable production from the ulta-deepwaters of the Gulf of Mexico and the oil sands of Canada and Venezuela, these resources come at a price.
In addition to the industry striving to generate emerging (and costly) technologies to overcome the rigors of working in waters that are more than a mile deep, Hurricanes Katrina, Rita, Ike and more have proven the Gulf of Mexico a volatile investment, with mega-projects, miles and miles of pipelines, and refineries delayed and even destroyed due to these storms.
Additionally, while Rubin expects Canadian oil sand production to increase to 4 million barrels a day, the heavy oil "must be processed extensively to become a usable motor fuel … done through an extensive cracking process that is much more costly and energy intensive than cracking light sweet crude."
According to Rubin, the cost of developing [more]
http://www.rigzone.com/news/article.asp?a_id=80044&hmpn=1
 
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