Oil Slick Stuff

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04/01/2010 - Updated 9:49 AM ET
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Oil nudges past $85 a barrel, extending recent gains May crude futures settled Wednesday at the highest level since October 2008
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By Polya Lesova, MarketWatch & Claudia Assis, MarketWatch

NEW YORK (MarketWatch) -- Oil futures rose for a fourth session on Thursday to trade above $85 a barrel, as strong manufacturing data from China and the euro zone, as well as U.S. jobless data, boosted hopes of strengthening energy demand.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B90845FB8%2D8E11%2D408C%2DBED0%2D94DEDF491701%7D&loc=interstitialskip
 
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budnipper1 said:
Excluding Alaska is likely Obama's payback, aimed at Sarah Palin and her former supporters.​



" The plan modifies a ban that for more than 20 years has limited drilling along coastal areas other than the Gulf of Mexico. It allows new oil drilling off Virginia's shoreline and considers it for a large chunk of the Atlantic seaboard. At the same time, he's rejecting some new drilling sites that had been planned in Alaska. "​


http://www.washingtonexaminer.com/l...oil-drilling-off-virginia-coast-89578442.html
Click to expand...

This mostly only covers EXPLORATION NOTHING else!:cool:
 
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04/01/2010 - Updated 11:25 AM ET
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Energy prices rally as oil flirts with $85 a barrel, natural gas reverses to gains Lower-than-expected rise in U.S.storage levels boost natural gasprices
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By Polya Lesova, MarketWatch & Claudia Assis, MarketWatch

NEW YORK (MarketWatch) -- Energy futures rallied Thursday, with oil futures rising for a fourth session to trade above $85 a barrel and natural gas reverting to gains following a smaller-than-expected increase in storage levels in the U.S.
Crude oil for May delivery, the most actively traded contract, gained $1.31 cents, or 1.5%, to $85.04 a barrel on the New York Mercantile Exchange.
http://markets.usatoday.com/custom/...S&guid={90845FB8-8E11-408C-BED0-94DEDF491701}
 
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nnuut said:
I believe there are other motives involved in this action. It probably won't go anywhere as far as really Drilling for oil for at least 2 years, the truth will come out shortly!:cool:

How do you spell TAX AND TRADE?:nuts:​


March 31, 2010 10:33 AM EDT by John Stossel​


Today, the President is set to announce his new energy plan which includes allowing oil drilling off Virginia’s shoreline – a reversal of a long-standing ban on most offshore drilling:​



As Cato Institute energy analyst Jerry Taylor points out, the real reason we should do more offshore drilling is because there’s at least $1.8 trillion of new wealth sitting in those reserves.​
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I don't think we will drill one one barrel of oil from this annoucement. All this is , is political cover for BO, because he knows his EPA already has plans to stop any drilling. It's all a smoke screen, but enough Americans will lap up this pap like they did his "Hope and Change" bs. I'll believe it when I see it, Words are cheap and BO has proven his aren't worth a bucket of warm spit.
 
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EXACTLY!!! They will cover their butts with some drilling but not enough to make a difference. Why the turn around by BHO, he was blatantly against this and changed his mind? I don't trust the intentions, but it could be that he realizes how wrong he was about this but I doubt it. Its just more control!!:nuts:
 
You guys are probably right...But like I posted earlier in the thread down below

This is the kind of blown out of proportion BS like Global Warming hoax was, that will tug at the heart strings of the malinformed..


Quote:
His support for exploratory drilling in the Chukchi and Beaufort seas north of Alaska, for example, drew outrage from the Center for Biological Diversity as a threat to polar bears. "Short of sending Sarah Palin back to Alaska to personally club polar bears to death, the Obama administration could not have come up with a more efficient extinction plan for the polar bear," said Brendan Cummings, the center's senior counsel.
..What a crock of bear scat..
Click to expand...

I'm hoping this will not be stopped by the Leaflickers..
 
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Might take a while, might have been a good idea to start much earlier?:nuts:

Oil Firms Could Produce on Atlantic Shelf in 7 Years - Study
IHS CERA
|
Thursday, April 01, 2010

The offshore U.S. Atlantic Continental Shelf could contain 3.8 billion barrels (Bb) of oil and 137 trillion cubic feet (tcf) of natural gas. First production could be as early as seven years in the area that the Obama Administration announced will be open to exploration, but any current estimates are still very preliminary, according to IHS Cambridge Energy Research Associates (IHS CERA).

http://www.rigzone.com/news/article.asp?hpf=1&a_id=90373
 
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Still will only contribute a small fraction to the energy needs of this country. We need to do a lot more in bio-fuels, and nuclear, and solar, and wind, and geothermo, and any other new technology to get us OFF of oil, as oil is now, and will always be, a finite resource.

You can pay now, or pay later, but the end result will be- even if it takes many years, that we will HAVE to change our habits in the USA for how we get and use energy.
 
People apparently don't remember the early days of EGR (exhaust gas recirculation) in the early 1970s to reduce tailpipe pollution - I had a car that was troublesome getting out of first gear. So I paid $175 to have it all removed - after that she ran fine for many, many years. You might get a car with better gas mileage but you'll be able to run faster than it will go.
 
04/05/2010 - Updated 9:31 AM ET
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Crude oil jumps above $86 in wake of U.S. jobs report
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By Nick Godt, MarketWatch

NEW YORK (MarketWatch) -- Crude oil futures topped $86 a barrel on Monday, reaching fresh 18-month highs, as investors had a chance to react to Friday's U.S. jobs report, which showed the biggest gain in payrolls in three years and fueled hope for a recovery in demand for energy.
U.S. markets were closed on Friday for the Easter holiday and some markets in Europe remained closed on Monday.
Crude oil for May delivery was up 87 cents, or 1%, at $85.77 a barrel in electronic trade. It briefly reached a high of $86.03 a barrel, its highest level since October 2008.
http://markets.usatoday.com/custom/...S&guid={8546ACA0-875F-4776-855E-B5417433AE67}
 
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Anyone remember what happened to the stock market rally in the Fall of 2007 when oil hit $90 barrel?
Will it happen again?


nnuut said:
04/05/2010 - Updated 9:31 AM ET
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Crude oil jumps above $86 in wake of U.S. jobs report
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By Nick Godt, MarketWatch

NEW YORK (MarketWatch) -- Crude oil futures topped $86 a barrel on Monday, reaching fresh 18-month highs, as investors had a chance to react to Friday's U.S. jobs report, which showed the biggest gain in payrolls in three years and fueled hope for a recovery in demand for energy.
U.S. markets were closed on Friday for the Easter holiday and some markets in Europe remained closed on Monday.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B8546ACA0%2D875F%2D4776%2D855E%2DB5417433AE67%7D
Click to expand...
 
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04/05/2010 - Updated 1:37 PM ET
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Crude oil extends rally, trades above $86
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By Nick Godt, MarketWatch & Claudia Assis, MarketWatch

SAN FRANCISCO (MarketWatch) -- Crude-oil futures moved beyond their 18-month high Monday, building momentum on heightened hopes for a pickup in energy demand.
Crude for May delivery, the most active contract, reached an intraday high of $86.92 a barrel and recently traded up $1.96, or 2.3%, to $86.83 http://markets.usatoday.com/custom/...S&guid={8546ACA0-875F-4776-855E-B5417433AE67}
 
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China's oil demand increase 'astonishing', says IEA


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Oil is trading at more than $82 a barrel

China's demand for oil jumped by an "astonishing" 28% in January compared with the same month a year earlier, the International Energy Agency (IEA) says. The body added that demand for oil in 2010 would be underpinned by rising demand from emerging markets, with half of all growth coming from Asia.
But the IEA predicted demand in developed countries would fall by 0.3%.
http://news.bbc.co.uk/2/hi/business/8563985.stm
 
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Just received this in an email. Friend of mine in the business says there is SOME truth to it. Regardless, interesting read. DAWG

OIL - you better sit down.

Here's an interesting read, important and verifiable information :

About 6 months ago, the writer was watching a news program on oil and
one of the Forbes Bros. was the guest. The host said to Forbes, "I am going to
ask you a direct question and I would like a direct answer; how much oil
does the U.S. have in the ground?" Forbes did not miss a beat, he said, "more
than all the Middle East put together." Please read below.
--------

Now I just wonder what would happen in this country if every one of you
sent this to every one in your address book.

By the way...this is all true. Check it out at the link below!!!

GOOGLE it, or follow this link. It will blow your mind.

http://www.usgs.gov/newsroom/article.asp?ID=1911 <http://www.usgs.gov/newsroom/article.asp?ID=1911>
<http://www.usgs.gov/newsroom/article.asp?ID=1911 <http://www.usgs.gov/newsroom/article.asp?ID=1911> >
 
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There is NO SHORTAGE OF OIL, and Obama cutting exploration and pumping isn't helping!!:cool:
Someones CRAZY and it's not us!:nuts:
DRILL BABY DRILL!!! oilrig2.gif
 
04/06/2010 - Updated 9:52 AM ET
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Crude futures trade tip higherTraders await data on U.S. petroleum inventories, FOMC minutes
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By Polya Lesova, MarketWatch & Claudia Assis, MarketWatch

SAN FRANCISCO (MarketWatch) -- Oil prices edged higher Tuesday after finishing the prior session at the highest level since October 2008, as investors awaited data on petroleum inventories and the minutes from the latest meeting of the U.S. Federal Reserve.
markets=COMMODITIES&guid=%7B84CCBFE5%2D937D%2D4259%2DA0DB%2DD1FBF907E182%7D&loc=interstitialskip
 
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