Oil Slick Stuff

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WorkFE said:
Switch over to Turbo Diesel. No choices to be made, simplifies my life:D
Click to expand...
My next car will be a diesel. Then I plan to make my own diesel from used fryer oil from a couple of local restaurants. Should be able to do that for much less than the pump.
 
02/09/2011 - Updated 11:46 AM ET
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Crude futures waver after supply report
WikiLeaks reports doubts among U.S. officials about Saudi reserves
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Grains shoot up after USDA report (ethanol?)

By Claudia Assis, MarketWatch

SAN FRANCISCO (MarketWatch) — Crude-oil futures wavered Wednesday after the government’s weekly supplies data showed a smaller-than-expected rise in oil inventories but bearish increases for gasoline and other products.
Crude oil for March delivery [CLH11] recently added 36 cents, or 0.4%, to $87.28 a barrel on the New York Mercantile Exchange. Earlier, it had dipped in and out of the red after trading as high as $88.05 a barrel.
The market’s immediate response to the Energy Information Administration’s report was positive, and crude-oil futures, which had opened higher, extended gains after the data. http://markets.usatoday.com/custom/...S&guid={4209B0E8-3450-11E0-B3F5-00212804637C}
 
02/10/2011 - Updated 8:44 AM ET
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Oil futures fall back as demand jitters ease
By Steve Gelsi, MarketWatch

NEW YORK (MarketWatch) — Crude-oil futures fell Thursday as the International Energy Agency cautioned that a weak economic recovery could dampen demand and analysts signaled that thirst for crude should follow traditional seasonal patterns this year.
Crude futures dropped 0.4%, slipping 34 cents to $86.37 in electronic trading. On Wednesday, crude for March delivery [CLH11] declined 23 cents, or 0.3%, to $86.71 a barrel on the New York Mercantile Exchange. http://markets.usatoday.com/custom/...S&guid={2C1BBE02-3518-11E0-B3F5-00212804637C}
 
Obama, open up oil exploration in the Gulf of Mexico, Alaska, Atlantic, Pacific and the Bakken we NEED OIL NOW!:nuts:
DRILL DRILL DRILL!!!​

Oil-Drilling Boom Under Way

by Ryan Dezember and Matt Day
Thursday, February 10, 2011


Rig Count Doubles in U.S. as Companies, Landowners Tap New Crude Sources

Oil-drilling activity in the U.S. has accelerated to a pace not seen in a generation as energy companies, oilfield contractors and landowners rush to exploit newly profitable sources of crude.
The number of rigs aiming for oil in the U.S. is the highest since at least 1987, according to Baker Hughes Inc. The 818 rigs tallied by the oilfield-service company last week are nearly double last year's count and about 10 times the number that were drilling for oil in the late 1990s.
While the drilling surge is unlikely to yield enough crude to alter the global oil-supply picture, analysts say the new activity, centered on so-called unconventional reservoirs, could greatly boost domestic oil production and help offset declining output in Alaska and the Gulf of Mexico.

http://finance.yahoo.com/banking-bu...b-budgeting&sec=topStories&pos=3&asset=&ccode=
 
New Drilling Method Opens Vast U.S. Oil Fields


Published February 10, 2011
| Associated Press

A new drilling technique is opening up vast fields of previously out-of-reach oil in the western United States, helping reverse a two-decade decline in domestic production of crude.
Companies are investing billions of dollars to get at oil deposits scattered across North Dakota, Colorado, Texas and California. By 2015, oil executives and analysts say, the new fields could yield as much as 2 million barrels of oil a day -- more than the entire Gulf of Mexico produces now.
This new drilling is expected to raise U.S. production by at least 20 percent over the next five years. And within 10 years, it could help reduce oil imports by more than half, advancing a goal that has long eluded policymakers.
http://www.foxnews.com/us/2011/02/10/new-drilling-method-opens-vast-oil-fields/
 
02/10/2011 - Updated 11:41 AM ET
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Oil gains on Mubarak, demand expectations
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By Claudia Assis, MarketWatch & Steve Gelsi, MarketWatch

SAN FRANCISCO (MarketWatch) — Crude-oil futures edged higher Thursday as equities came off session lows and media reports said Egypt’s President Hosni Mubarak will step down later in the day.
Crude for March delivery [CLH11] rose 65 cents to $87.36 a barrel on the New York Mercantile Exchange.
http://markets.usatoday.com/custom/...S&guid={2C1BBE02-3518-11E0-B3F5-00212804637C}
 
Mubarak is not stepping down - he's given some powers to the VP but he can take them back anytime. VP says the protests are all the foreign media's fault. Protestors may be marching toward Presidential palace - so says my friend watching the news.
 
Futures Movers
Feb. 11, 2011, 9:03 a.m. EST
Crude oil gains as Egypt protests continue

MarketWatch
NEW YORK (MarketWatch) — Crude-oil futures rose on Friday as protestors took to the streets of Egypt after President Hosni Mubarak said in a Thursday address that he would not immediately step down.
Oil advanced by 0.5%, or 41 cents, to $87.14.
http://www.marketwatch.com/story/crude-oil-gains-as-egypt-protests-continue-2011-02-11
 
Yes now they think we will still be able to use the Suez Canal.:D

02/11/2011 - Updated 11:16 AM ET
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Oil retreats after Mubarak-resignation reportsGasoline, heating oil trade higher
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By Claudia Assis, MarketWatch

SAN FRANCISCO (MarketWatch) — Crude-oil futures traded lower Friday amid media reports that Egypt’s President Hosni Mubarak has resigned.
Power was handed to the military, according to reports.
Mubarak on Friday left Cairo for a resort town on the Sinai Peninsula.
The Wall Street Journal reported earlier Egypt’s armed forces have backed a transfer of power to the country’s vice president and pledged to ensure the transition to free elections.
Crude oil for March delivery [CLH11] retreated 70 cents, or 0.8%, to $86.01 a barrel on the New York Mercantile Exchange, adding to losses from midmorning trading. http://markets.usatoday.com/custom/...S&guid={C98E8FBC-35E4-11E0-B3F5-00212804637C}
 
02/11/2011 - Updated 3:32 PM ET
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Oil ends at 10-week low on Mubarak resignation Natural gas falls to 12-week low, worst weekly loss since August
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By Claudia Assis, MarketWatch

SAN FRANCISCO (MarketWatch) — Crude-oil futures ended at their lowest in more than 10 weeks after Egypt’s President Hosni Mubarak resigned, putting to rest concerns that the country’s uprising was threatening key oil crossroads.
Mubarak on Friday left Cairo for a resort town on the Sinai Peninsula. Crowds in the capital city erupted in jubilation after the news that power had been handed to the military.
Crude oil for March delivery [CLH11] retreated $1.15, or 1.3%, to $85.58 a barrel on the New York Mercantile Exchange.http://markets.usatoday.com/custom/...S&guid={C98E8FBC-35E4-11E0-B3F5-00212804637C}
 
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