Oil Slick Stuff

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Feb. 14, 2012, 12:59 p.m. EST
[h=1]Experts talk down $5 gasoline this summer[/h][h=2]One trader says war with Iran could spike prices at the pump[/h]

By Steve Gelsi, MarketWatch



NEW YORK (MarketWatch) — While the cost of a gallon of gasoline could possibly touch $5 for the first time this summer, at least two commodity pundits said Tuesday it’s more likely that prices will remain closer to $4 a gallon.
Experts talk down $5 gasoline this summer - Market Extra - MarketWatch
 
Here they go again, $5 a gallon may be cheap. :nuts:

Musings: Can't People Find A New Way To Regulate O&G Industry?

by G. Allen Brooks Parks Paton Hoepfl & Brown




On January 18th, Representative Denis Kucinich (D-Ohio), along with five liberal Democrats in the House of Representatives, introduced a bill that displays not only a lack of understanding about the basics of business, but also champions some of the most failed government economic policies of the past 40 years. The bill, H.R. 3784, otherwise known as the "Gas Price Spike Act of 2012," would, as its preamble sets forth: "…amend the Internal Revenue Code of 1986 to impose a windfall profit tax on oil and natural gas (and products thereof) and to allow an income tax credit for purchases of fuel-efficient passenger vehicles, and to allow grants for mass transit." For this group of politicians, profits are as dirty as the crude oil they are derived from. While the preamble sets forth the premise of regulating energy industry profitability, the proposed mechanisms in the bill demonstrate the worst of a social engineering mandate.
Click to expand...
The "Gas Price Spike Act of 2012," would, as its preamble sets forth: "…amend the Internal Revenue Code of 1986 to impose a windfall profit tax on oil and natural gas
RIGZONE - Musings: Can't People Find A New Way To Regulate O&G Industry?​
 
Crude inventories Down a bit this morning.
EIA Petroleum Status Report[TABLE="class: actual_consensus_box"]
[TR]
[TD]Crude oil inventories (weekly change)
[/TD]
[TD="class: actual_consensus_box_numbers"]0.3 M barrels
[/TD]
[TD="class: actual_consensus_box_numbers"]-0.2 M barrels
[/TD]
[/TR]
[TR]
[TD]Gasoline (weekly change)
[/TD]
[TD="class: actual_consensus_box_numbers"]1.6 M barrels
[/TD]
[TD="class: actual_consensus_box_numbers"]0.4 M barrels
[/TD]
[/TR]
[TR]
[TD]Distillates (weekly change)
[/TD]
[TD="class: actual_consensus_box_numbers"]1.2 M barrels
[/TD]
[TD="class: actual_consensus_box_numbers"]-2.9 M barrels
[/TD]
[/TR]
[/TABLE]
Economic Calendar - Bloomberg
 
The Dollar continues Down, Oil should be going UP.:cool:
U.S. Dollar Index (DXY), DXY Index Quote - (NYE) DXY, U.S. Dollar Index (DXY) Index Price
dollar.jpg
 
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