Oil Slick Stuff

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This and his Birth Certificate in the same day! Now I'm worried about the Old Fellow?
 
04/27/2011 - Updated 9:54 AM ET
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Oil edges higher ahead of Fed, inventories
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By Claudia Assis, MarketWatch

SAN FRANCISCO (MarketWatch) — Crude-oil futures inched higher Wednesday in thin volume ahead of the U.S. Federal Reserve policy statement and press conference, while the market also awaits official word on weekly inventories.
Crude for June delivery [CLM11] added 5 cents to $112.26 a barrel on the New York Mercantile Exchange. Earlier, it traded in a narrow band — as high as $112.79 and as low as $111.71 — dipping in and out of negative territory in electronic trading in Asian and European hours. http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B14D74260%2D70D3%2D11E0%2DB644%2D00212804637C%7D&loc=interstitialskip
 
Gasoline pump price where I am this morning- $4.09

E85 pump price: $3.19.


Choice.

It's nice.

Anybody got higher than $4.09 today where they are?
 
Metals Stocks
April 27, 2011, 11:44 a.m. EDT
Gold pares gains as U.S. dollar strengthens


By Myra P. Saefong, MarketWatch
SAN FRANCISCO (MarketWatch) — Gold futures pared gains Wednesday, with strength in the U.S. dollar luring investors away from the precious metal as investors looked ahead to the Federal Reserve’s monetary-policy decision and Fed Chairman Ben Bernanke’s news conference for clues on inflation.
“After [gold’s] sprint to above $1,500 over the last couple of weeks, the risk right now for short-term investors is that Bernanke and Co. will say or do something to upset the status quo,” said Brien Lundin, editor of Gold Newsletter, in emailed comments. “Gold is trading where it is precisely because of the Fed’s current policies, so the risk at this very moment is to the downside.” http://www.marketwatch.com/story/gold-futures-gain-as-much-as-10-ahead-of-fed-2011-04-27
 
Federal Office says Shell can't clean anywhere near as much as they'll spill if things go wrong in Arctic drilling:

ANCHORAGE, Alaska – The federal agency overseeing offshore drilling in Alaska says the worst-case scenario for a blowout in the Chukchi Sea lease could result in a spill of more than 58 million gallons of oil into Arctic waters.
That's about a quarter of the Deepwater Horizon spill, which put 206 million gallons of oil into the Gulf of Mexico. But it's far more than Shell Oil — the major leaseholder in waters off Alaska's northwest coast — says it could handle under its current response plan.
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Don't drill if you are going to spill.

More:

http://news.yahoo.com/s/ap/us_arctic_offshore_drilling
 
RealMoneyIssues said:
So, by that logic, we will never drill... :blink:

Oh wait, it's ok if it's another country... do I remember correctly that POTUS is encouraging Brazil to do off-shore drilling???
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If the company PROPERLY PREPARES for contingency, and has the ability to clean up it's mess, then I'm fine with drilling .

If the company is not prepared to clean up after itself in the event of a spill (remember BP???? ) then no, they shouldn't get a permit to drill.

It's that simple.

P.S.- and no, the President isn't encouraging Brazil to do off-shore drilling.

See Beltwaytalk.com.

http://www.beltwaytalk.com/showthread.php?46-The-Oil-in-the-Gulf&p=13259&viewfull=1#post13259
 
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