Oil Slick Stuff

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Nnuut,
What does BP stand for? Bloated Profits? Bad Pipes? ......? Just askin......:cheesy:
 
Regular UL $2.36 a Gallon in Boiled peanut Ga.

$67.32 a barrel at close:worried:

09/07/2006 - Updated 3:48 PM ET
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Oil futures mark four-session losing streakOctober natural gas nears two-year low; oil supply down, gasoline supply up
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By Myra P. Saefong, MarketWatch
SAN FRANCISCO (MarketWatch) -- Crude prices closed lower Thursday to register a four-session decline of over 4%, while gasoline futures closed slightly above an almost seven-month low after a U.S. government report showed that crude supplies fell, but gasoline inventories rose unexpectedly for a third week in a row.
http://markets.usatoday.com/custom/...s&guid={09C554B2-0444-4180-9107-843A8C2D5AE4}
 
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$67.06 a barrel, OK lets break $65 now!:D

09/08/2006 - Updated 5:54 AM ET
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Oil futures continues to trend lowerBP says Alaskan pipeline could be on line by end-October
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</IMG>By Sarah Turner, MarketWatch
LONDON (MarketWatch) - Light sweet crude continued to lose ground in electronic trade Friday as traders weighed news that BP's Alaskan pipeline could be back on line by the end of October and also continued to eye supply data from the U.S.
Light sweet crude futures lost 26 cents in electronic trading to stand at $67.06 a barrel.http://markets.usatoday.com/custom/...s&guid={45DC5EF2-4ADA-4F6F-BE2D-E03274B91636}
 
$66.15 a barrel, Oh Boy, keep this up and it might help the markets Monday. I think we will need some kind of catalyst. OPEC SUMMIT?? they wouldn't, would they?
09/08/2006 - Updated 1:46 PM ET
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Oil futures falls, on track for a 4% weekly loss Key pipeline may see full operation by end of October;
OPEC summit Monday
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By Myra P. Saefong, MarketWatch
SAN FRANCISCO (MarketWatch) -- Crude-oil futures fell as much as 2% Friday, ready to mark a fifth losing session in a row and a loss of around 4% for the week with the biggest oil field in the U.S. expected to resume full operations sooner than originally expected and other news helping to calm concerns about potential risks to domestic oil supplies.
http://markets.usatoday.com/custom/...s&guid={45DC5EF2-4ADA-4F6F-BE2D-E03274B91636}
 
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Regular UL $2.32 a Gallon in Boiled peanut Ga. Comon down, we can take it!:D

OPEC SUMMIT?? they wouldn't, would they? I don't like it when these guys get together!:mad: They could be up to no good, or keep output at the same levels, lets hope they keep it at the same levels!:o
 
Outlook promising for OPEC SUMMIT Monday. :D PHEW!

Opec to steer steady course on oil output - for now

1.00pm Sunday September 10, 2006
By Mariam Karouny and Anna Mudeva


VIENNA - Top oil exporter Saudi Arabia and fellow Opec producers signalled on Saturday they would keep output near a 25-year high for now, satisfied the policy is easing pressure on consumer economies.

But a US$12 drop in the price since mid-July and forecasts that demand for Opec oil will decline in 2007 are beginning to worry some in the group that pumps a third of the world's oil.

The Organisation of the Petroleum Exporting Countries, which meets here on Monday, has pumped steadily for over a year to fill consumers' oil tanks and guard against supply shocks.

The Saudi-driven policy has succeeded, with no demand unmet.

Oil has fallen sharply from its US$78.40 a barrel record high of July 14, when Israeli strikes on Lebanon led to fears of a wider Middle East conflict. But at US$66, it is still up US$5 this year and three times the price at the start of 2002.

http://www.nzherald.co.nz/section/story.cfm?c_id=3&ObjectID=10400630
 
Remember the 80's, when the price decreased. Revenues dropped so they pumped more to make up for it, which put further downward pressure on prices. During the first Reagan administration oil dropped to $10 a barrel, fueling a big bull market in the west.

If the forecasts of a recession are correct, then demand will decrease and prices will fall. What of the big construction projects like those islands in Dubai? Those guys need money, and they will pump until they get it.

The share of global production represented by OPEC is falling steadily. Their power is decreasing annually. Moreover, once times get just slightly difficult for them, we see the falling-out as countries set their own quotas for their own reasons.

It's a problem. The more it costs the greater is the incentive in the west to use less. The lower the price the greater is the risk to their domestic economies.

Dave
 
Oil is a long term secular play - build your positions now. Buy drillers, fluids, pipes and other metals. Buy compressors, machinery, etc, you get the idea.
 
Dave M said:
Remember the 80's, when the price decreased. Revenues dropped so they pumped more to make up for it, which put further downward pressure on prices. During the first Reagan administration oil dropped to $10 a barrel, fueling a big bull market in the west.

If the forecasts of a recession are correct, then demand will decrease and prices will fall. What of the big construction projects like those islands in Dubai? Those guys need money, and they will pump until they get it.

The share of global production represented by OPEC is falling steadily. Their power is decreasing annually. Moreover, once times get just slightly difficult for them, we see the falling-out as countries set their own quotas for their own reasons.

It's a problem. The more it costs the greater is the incentive in the west to use less. The lower the price the greater is the risk to their domestic economies.

Dave
Click to expand...

Sounds reasonable to me Dave. And besides I'm tired of feeding the coffers of the terrorists. Bring it on down, my 4Runner loves it, the economy loves it, the market loves it, truckers love it, and I love it!:D
 
PETER BRIMELOW
Oil bulls are defiant

By Peter Brimelow, MarketWatch
Last Update: 10:34 AM ET Sep 11, 2006


Don Hays of the respected institutional service Hays Advisory put out this powerfully incisive comment Friday:
"It is very hard for any of us in the Strategy Business to say the word recession, but the yield curve has now been saying that was in the cards for the last few weeks. The Dow Transportation Index is certainly confirming economic weakness."
marketwatch.com/news/story/Story.aspx?guid=%7B63B9EB41%2DF794%2D447C%2DA761%2D696568D8D921%7D&siteid=
 
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