Oil Slick Stuff

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nnuut said:
I was here alone, Wife and Daughter in Spain, Granddaughter is here but spent the night with a friend. Made 2 ea. spicy mustard and onions on hot dog buns with Frito's on the side, went well with the PBR!! Thanks for the idea.:D
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Your welcome: It's the only way to cook a good brat.:)
 
06/08/2010 - Updated 12:42 PM ET
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Oil rises modestly on stocks, weaker dollarFutures trim gains after government lowers price projections for 2010
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By Claudia Assis, MarketWatch & Nick Godt, MarketWatch

SAN FRANCISCO (MarketWatch) -- Crude-oil futures rose on Tuesday, after swerving in and out of negative territory, supported by a weaker dollar.
://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B91A533F1%2DBF57%2D4D60%2DBF39%2D095F167D080A%7D
 
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A step in the right direction!!:o

Obama to Reopen Offshore Oil Drilling


Published June 08, 2010
| The Wall Street Journal


June 7: Obama meets with members of his Cabinet to discuss the response to BP Deepwater Horizon oil spill, in the Cabinet Room of the White House in Washington.

The Obama administration, facing rising anger on the Gulf Coast over the loss of and income from a drilling moratorium, said Monday that it would move quickly to release new safety requirements that would allow the reopening of offshore oil and gas exploration in shallow waters.
Gulf Coast residents, political leaders and industry officials said delays in releasing the new rules, along with the administration's six-month halt on deepwater drilling—both issued amid public pressure—threatened thousands of jobs.
Well-owner BP PLC, meanwhile, faces penalties "in the many billions of dollars," for the Deepwater Horizon drilling disaster that has been spewing an estimated minimum 12,000 to 19,000 barrels of oil a day into the Gulf, said White House Press Secretary Robert Gibbs. The costs of the spill will "greatly exceed" the amount BP could recoup by selling any of the captured oil on the market, he said Monday. [more]
http://www.foxnews.com/politics/2010/06/08/obama-reopen-offshore-oil-drilling/
 
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Well then the markets should get a little rise then today as well...I've been tempted to buy in yesterday to the S fund as it is as low or lower than when I got out in January..but knowing my luck, the bottom would have fallen out..:rolleyes:
 
Hey if a Frog FARTS in Europe it's down we go, I'm waiting for the turnaround and I don't think this is it, but I've been wrong before?:)
 
Up she goes, good for the Market, hell on the economy!!:mad:

06/09/2010 - Updated 11:04 AM ET
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Oil climbs on weaker dollar, drop in inventories
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By Claudia Assis, MarketWatch & Kate Gibson, MarketWatch

SAN FRANCISCO (MarketWatch) -- Crude-oil futures rose on Wednesday on a weaker dollar, stronger U.S. stock markets, and a decrease in oil inventories.
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Retail sales were down 1.6% in May. That is interesting, and led to stocks not doing well today. But if you dig into the retail sales data, you find this little nugget:

Sales at gasoline stations also fell significantly in May, dropping 3.3%
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Which tells me that, in May, yes, retail sales were off a little, BUT- that a portion of that lower figure is the result of lower oil prices (and hence, lower gasoline prices, and hence, lower total retail sales dollars changed hands) in May.

Gas prices were down, so there was less "sales activity". Not less gasoline used, just fewer dollars changing hands because of the lower price.

Bottom line- unless the price of gasoline keeps falling (unlikely), that lower sales figure for May is likely to be the end of the falling sales for gasoline. If the prices remain flat, or climb, we should see a reversal in the retail sales numbers.

Just some food for thought.
 
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