Oil & Gas thread:12-17-08 OPEC & non-members agree to largest reduction in history 7 percent

[EagleKeeper]

Originally posted by: dmcowen674

Originally posted by: Engineer
This is for those that stated that we would see $30 oil again before we saw $80..well, you were wrong (sadly).

Hits $80 a Barrel for First Time
Wednesday September 12, 3:53 pm ET
By John Wilen, AP Business Writer
Oil Prices Reach $80 a Barrel for First Time After Government Reports Decline in Inventories

NEW YORK (AP) -- Oil futures prices rose sharply Wednesday, briefly climbing above a record $80 a barrel after the government reported a surprisingly large drop in crude inventories and declines in gasoline supplies and refinery activity.

Also from article:

Oil's runup has perplexed some analysts, who expect demand for oil and petroleum products to cool this fall, said Chip Hodge, energy portfolio manager at John Hancock Financial Securities in Boston.
============================================
Do you see Dave perplexed?

This massive profit gouging will continue until we get a non-oil Company President in Office.[/quote]

And what do you think a non-oil Company President will do?

 

[dmcowen674]

Originally posted by: Common Courtesy

Originally posted by: dmcowen674

Originally posted by: Engineer
This is for those that stated that we would see $30 oil again before we saw $80..well, you were wrong (sadly).

Hits $80 a Barrel for First Time
Wednesday September 12, 3:53 pm ET
By John Wilen, AP Business Writer
Oil Prices Reach $80 a Barrel for First Time After Government Reports Decline in Inventories

NEW YORK (AP) -- Oil futures prices rose sharply Wednesday, briefly climbing above a record $80 a barrel after the government reported a surprisingly large drop in crude inventories and declines in gasoline supplies and refinery activity.

Also from article:

Oil's runup has perplexed some analysts, who expect demand for oil and petroleum products to cool this fall, said Chip Hodge, energy portfolio manager at John Hancock Financial Securities in Boston.
============================================
Do you see Dave perplexed?

This massive profit gouging will continue until we get a non-oil Company President in Office.

And what do you think a non-oil Company President will do?
[/quote]

Ask Chavez and Putin.

 

[Sinsear]

Originally posted by: dmcowen674

Originally posted by: Common Courtesy

Originally posted by: dmcowen674

Originally posted by: Engineer
This is for those that stated that we would see $30 oil again before we saw $80..well, you were wrong (sadly).

Hits $80 a Barrel for First Time
Wednesday September 12, 3:53 pm ET
By John Wilen, AP Business Writer
Oil Prices Reach $80 a Barrel for First Time After Government Reports Decline in Inventories

NEW YORK (AP) -- Oil futures prices rose sharply Wednesday, briefly climbing above a record $80 a barrel after the government reported a surprisingly large drop in crude inventories and declines in gasoline supplies and refinery activity.

Also from article:

Oil's runup has perplexed some analysts, who expect demand for oil and petroleum products to cool this fall, said Chip Hodge, energy portfolio manager at John Hancock Financial Securities in Boston.
============================================
Do you see Dave perplexed?

This massive profit gouging will continue until we get a non-oil Company President in Office.

And what do you think a non-oil Company President will do?

Ask Chavez and Putin.

 

[EagleKeeper]

Originally posted by: dmcowen674

Originally posted by: Common Courtesy

Originally posted by: dmcowen674

Originally posted by: Engineer
This is for those that stated that we would see $30 oil again before we saw $80..well, you were wrong (sadly).

Hits $80 a Barrel for First Time
Wednesday September 12, 3:53 pm ET
By John Wilen, AP Business Writer
Oil Prices Reach $80 a Barrel for First Time After Government Reports Decline in Inventories

NEW YORK (AP) -- Oil futures prices rose sharply Wednesday, briefly climbing above a record $80 a barrel after the government reported a surprisingly large drop in crude inventories and declines in gasoline supplies and refinery activity.

Also from article:

Oil's runup has perplexed some analysts, who expect demand for oil and petroleum products to cool this fall, said Chip Hodge, energy portfolio manager at John Hancock Financial Securities in Boston.
============================================
Do you see Dave perplexed?

This massive profit gouging will continue until we get a non-oil Company President in Office.

And what do you think a non-oil Company President will do?

Ask Chavez and Putin.[/quote]
Socialism and the ability to screw up the economy worse.

Do you really desire handouts and taxes to support the handouts?

Such a statement from you removes credibility.

 

[Pliablemoose]

Originally posted by: dmcowen674

Originally posted by: Common Courtesy

Originally posted by: dmcowen674

Originally posted by: Engineer
This is for those that stated that we would see $30 oil again before we saw $80..well, you were wrong (sadly).

Hits $80 a Barrel for First Time
Wednesday September 12, 3:53 pm ET
By John Wilen, AP Business Writer
Oil Prices Reach $80 a Barrel for First Time After Government Reports Decline in Inventories

NEW YORK (AP) -- Oil futures prices rose sharply Wednesday, briefly climbing above a record $80 a barrel after the government reported a surprisingly large drop in crude inventories and declines in gasoline supplies and refinery activity.

Also from article:

Oil's runup has perplexed some analysts, who expect demand for oil and petroleum products to cool this fall, said Chip Hodge, energy portfolio manager at John Hancock Financial Securities in Boston.
============================================
Do you see Dave perplexed?

This massive profit gouging will continue until we get a non-oil Company President in Office.

And what do you think a non-oil Company President will do?


Ask Chavez and Putin.

Dave, just come out & admit it, you're not a liberal or a Democrat, you're a socialist.

 

[dmcowen674]

Originally posted by: Common Courtesy

Originally posted by: dmcowen674

Originally posted by: Common Courtesy

Originally posted by: dmcowen674

Originally posted by: Engineer
This is for those that stated that we would see $30 oil again before we saw $80..well, you were wrong (sadly).

Hits $80 a Barrel for First Time
Wednesday September 12, 3:53 pm ET
By John Wilen, AP Business Writer
Oil Prices Reach $80 a Barrel for First Time After Government Reports Decline in Inventories

NEW YORK (AP) -- Oil futures prices rose sharply Wednesday, briefly climbing above a record $80 a barrel after the government reported a surprisingly large drop in crude inventories and declines in gasoline supplies and refinery activity.

Also from article:

Oil's runup has perplexed some analysts, who expect demand for oil and petroleum products to cool this fall, said Chip Hodge, energy portfolio manager at John Hancock Financial Securities in Boston.
============================================
Do you see Dave perplexed?

This massive profit gouging will continue until we get a non-oil Company President in Office.

And what do you think a non-oil Company President will do?

Ask Chavez and Putin.

Socialism and the ability to screw up the economy worse.

Do you really desire handouts and taxes to support the handouts?

Such a statement from you removes credibility.
[/quote]

That's a totally different issue. How come you guys have such a hard time staying on topic?

Chavez and Putin took over their country oil resources.

Are they not sovereign and have the right to do so from the Corporations?

Is it the United States of America or The United States of Exxon?

 

[Sinsear]

I'm not really following where you're going with this Dave. Plus the your quoting is jacked up and I can't see who said what.

Are you saying that the next President should take over the oil corp's and federalize em?

 

[dmcowen674]

Originally posted by: Sinsear
I'm not really following where you're going with this Dave. Plus the your quoting is jacked up and I can't see who said what.

Are you saying that the next President should take over the oil corp's and federalize em?

Where I'm going is where I've said all along.

Oil/Gas should be considered a necessity not a commodity and regulated as such.

There is still room for profits but not the massive kind there is no for incompetence.

If those Corporations actually had to work for their profits watch how fast the incompetence and excuses goes away.

 

[desy]

Ahh
It isn't a necesity, if it was we wouldn't have allowed it to be under everybody elses soil.
Water is a necessity

 

[dmcowen674]

Originally posted by: desy
Ahh

It isn't a necesity, if it was we wouldn't have allowed it to be under everybody elses soil.

Water is a necessity

Water is a poor argument. Water doesn't have to be produced per say.

Try electricity since it is something that has to be produced.

 

[dmcowen674]

Oh noes

Better make gas $11 gallon stat:

9-13-2007 Hurricane Humberto power outage shuts down Valero 325,000 barrel-per-day refinery in Port Arthur,

Humberto, the first hurricane to hit the U.S. Gulf Coast in two years, sneaked up on southeast Texas overnight and crashed ashore Thursday with heavy rains and 80-mph winds, killing at least one person.

Power was knocked out for most of Beaumont and Port Arthur, Entergy Texas spokeswoman Debi Derrick said. She estimated about 100,000 customers were without power in the immediate wake of the storm.

One location blacked out was Jefferson County's Emergency Operations Center in Beaumont, where wind speeds of 75 to 80 mph were noted, said Michael White, the county's assistant emergency management coordinator. Officials were forced to track the storm with laptops, he said.

Valero Energy Corp. said a power outage shut down its 325,000 barrel-per-day refinery in Port Arthur, but other oil facilities were unaffected.

 

[Jaskalas]

Originally posted by: dmcowen674
Oh noes

Better make gas $11 gallon stat:

9-13-2007 Hurricane Humberto power outage shuts down Valero 325,000 barrel-per-day refinery in Port Arthur,

Yay for Humberto. It might do something to this two foot drought.

As for gas prices, stop blowing smoke - it's not going to $11.

 

[EagleKeeper]

Originally posted by: Jaskalas

Originally posted by: dmcowen674
Oh noes

Better make gas $11 gallon stat:

9-13-2007 Hurricane Humberto power outage shuts down Valero 325,000 barrel-per-day refinery in Port Arthur,

Yay for Humberto. It might do something to this two foot drought.

As for gas prices, stop blowing smoke - it's not going to $11.

Please allow Dave the benefit of sarcasm with respect to this.:gift:

Senior Anandtech Moderator
Common Courtesy

 

[dmcowen674]

Oh noes

Exxon down now too

9-13-2007 11 amOil hits new record on refinery outages

Oil prices briefly hit a record high and gasoline futures jumped Thursday as refiners reported production problems after Hurricane Humberto hit Texas.

Valero Energy Corp.'s 325,000 barrel-per-day Port Arthur, Texas, refinery was shut due to a power outage.

Exxon Mobil Corp. said its Beaumont, Texas, refinery suffered a minor production outage from Humberto.

Most large financial institutions have gone long on crude, and each new high tested equates to substantial profits," wrote Simon Wardell, an energy analyst at Global Insight in London, in a research note.
================================================
You're kidding.

"each new high tested equates to substantial profits"

Not according to P&Nrs, the margin is non-existent according to them so they can't be making record profits based on each new high.

 

[EagleKeeper]

Originally posted by: dmcowen674
Oh noes

Exxon down now too

9-13-2007 11 amOil hits new record on refinery outages

Oil prices briefly hit a record high and gasoline futures jumped Thursday as refiners reported production problems after Hurricane Humberto hit Texas.

Valero Energy Corp.'s 325,000 barrel-per-day Port Arthur, Texas, refinery was shut due to a power outage.

Exxon Mobil Corp. said its Beaumont, Texas, refinery suffered a minor production outage from Humberto.

Most large financial institutions have gone long on crude, and each new high tested equates to substantial profits," wrote Simon Wardell, an energy analyst at Global Insight in London, in a research note.
================================================
You're kidding.

"each new high tested equates to substantial profits"

Not according to P&Nrs, the margin is non-existent according to them so they can't be making record profits based on each new high.

The profit comment is more related to the financial institutions and futures, not the oil companies.

Note the last line or two in the article

Despite oil's run, Cordier doesn't believe gas prices will rise substantially. Gasoline demand typically drops in the fall, and beginning Saturday, refiners will be able to sell cheaper winter-grade gasoline.

"Gasoline just really has a difficult time staying high this time of year," said Cordier.

 

[dmcowen674]

Originally posted by: Common Courtesy
The profit comment is more related to the financial institutions and futures, not the oil companies.

Note the last line or two in the article

Despite oil's run, Cordier doesn't believe gas prices will rise substantially. Gasoline demand typically drops in the fall, and beginning Saturday, refiners will be able to sell cheaper winter-grade gasoline.

"Gasoline just really has a difficult time staying high this time of year," said Cordier.

You can't separate them.

Show me that the banks have no connection to Exxon et al.

It's collusion with their hands in the consumer pockets.

So what will gasoline drop down to?

It's still been going up here, never went down all year, been at $3.

Most P&Nrs have been saying they have been around $2.50 all year and that is cheap gas to them.

So do they believe $3 is not?

Is gas going to drop to $2.50 for me and be considered cheap gas while they go to $2 and it be considered free?

 

[dmcowen674]

Gas prices rise as third Refinery goes down:

9-13-2007 Oil closes above $80 for first time

Oil prices finished above $80 a barrel for the first time Thursday and gasoline prices rose as refiners reported production problems after Hurricane Humberto hit Texas.

The shuttered refineries included Valero Energy Corp.'s 325,000 barrel-per-day facility, Total SA's 180,000 barrel-per-day plant and Motiva Enterprises LLC's refinery, which can process 285,000 barrels of oil a day.

Exxon Mobil Corp. said its 350,000 barrel-per-day Beaumont, Texas, refinery suffered a minor production outage but remained up and running.

The outages boosted October gasoline 3.04 cents to settle at $2.0464 a gallon.

 

[EagleKeeper]

Originally posted by: dmcowen674
Gas prices rise as third Refinery goes down:

9-13-2007 Oil closes above $80 for first time

Oil prices finished above $80 a barrel for the first time Thursday and gasoline prices rose as refiners reported production problems after Hurricane Humberto hit Texas.

The shuttered refineries included Valero Energy Corp.'s 325,000 barrel-per-day facility, Total SA's 180,000 barrel-per-day plant and Motiva Enterprises LLC's refinery, which can process 285,000 barrels of oil a day.

Exxon Mobil Corp. said its 350,000 barrel-per-day Beaumont, Texas, refinery suffered a minor production outage but remained up and running.

The outages boosted October gasoline 3.04 cents to settle at $2.0464 a gallon.

But it is not even October. So how can gasoline prices be set.
Unless it is expections/futures market.
So if fuel is delivered at $1.99/gallon in October from the refineries, who wins/loses?

 

[dmcowen674]

Originally posted by: Common Courtesy

Originally posted by: dmcowen674
Gas prices rise as third Refinery goes down:

9-13-2007 Oil closes above $80 for first time

Oil prices finished above $80 a barrel for the first time Thursday and gasoline prices rose as refiners reported production problems after Hurricane Humberto hit Texas.

The shuttered refineries included Valero Energy Corp.'s 325,000 barrel-per-day facility, Total SA's 180,000 barrel-per-day plant and Motiva Enterprises LLC's refinery, which can process 285,000 barrels of oil a day.

Exxon Mobil Corp. said its 350,000 barrel-per-day Beaumont, Texas, refinery suffered a minor production outage but remained up and running.

The outages boosted October gasoline 3.04 cents to settle at $2.0464 a gallon.

But it is not even October. So how can gasoline prices be set.

Unless it is expections/futures market.

So if fuel is delivered at $1.99/gallon in October from the refineries, who wins/loses?

Exactly. You better be a girl because I can kiss you.

 

[dmcowen674]

There are people here in P&N that have said they don't mind paying for Politician's home remodeling with higher gas prices:

9-14-2007 Oil exec: Workers remodeled Stevens home

ANCHORAGE, Alaska - The former head of an oil field services company admitted Friday that he had employees work for several months on remodeling the home of Republican U.S. Sen. Ted Stevens.

Ex-VECO Corp. CEO Bill Allen discussed the work while testifying in the corruption trial of former state House Speaker Pete Kott.

Allen and former VECO Vice President Rick Smith pleaded guilty in May to extortion, conspiracy and bribery of legislators.

Under cross-examination by Kott's defense attorney James Wendt, Allen acknowledged that the more than $400,000 he admitted spending in the bribery charge was for other legislators ? and for work done at Stevens' home in Girdwood.

 

[Lemon law]

I think Sen Stevens and his chip off the block sunny boy's days may be numbered. He has operated too openly and too long.

 

[dmcowen674]

:laugh: Bahahahahahaha Oil declared "undervalued" Bahahahahahaha :laugh:

Traitors I say, not Traders:

9-17-2007 Oil sets new record

"If the economy's going to be OK, then oil prices are probably undervalued," said Phil Flynn, an analyst at Alaron Trading Corp. in Chicago.

Oil futures rose as high as $80.70 on Monday, a trading record.

Oil prices have set several new records over $80 a barrel in recent days for a number of reasons, including perceptions that problems in the subprime mortgage industry would have a minor effect on the economy.
=============================================
WTF does oil have to do with Subprime Mortgage???

 

[blackangst1]

Originally posted by: dmcowen674
:laugh: Bahahahahahaha Oil declared "undervalued" Bahahahahahaha :laugh:

Traitors I say, not Traders:

9-17-2007 Oil sets new record

"If the economy's going to be OK, then oil prices are probably undervalued," said Phil Flynn, an analyst at Alaron Trading Corp. in Chicago.

Oil futures rose as high as $80.70 on Monday, a trading record.

Oil prices have set several new records over $80 a barrel in recent days for a number of reasons, including perceptions that problems in the subprime mortgage industry would have a minor effect on the economy.
=============================================
WTF does oil have to do with Subprime Mortgage???

Well, if you took econ 101 in high school, or better yet actually comprehended what people have so patiently been trying to teach you about economics in P&N, you would know. Instead, youre ignorant.

 

[blackangst1]

Originally posted by: dmcowen674
There are people here in P&N that have said they don't mind paying for Politician's home remodeling with higher gas prices:

9-14-2007 Oil exec: Workers remodeled Stevens home

ANCHORAGE, Alaska - The former head of an oil field services company admitted Friday that he had employees work for several months on remodeling the home of Republican U.S. Sen. Ted Stevens.

Ex-VECO Corp. CEO Bill Allen discussed the work while testifying in the corruption trial of former state House Speaker Pete Kott.

Allen and former VECO Vice President Rick Smith pleaded guilty in May to extortion, conspiracy and bribery of legislators.

Under cross-examination by Kott's defense attorney James Wendt, Allen acknowledged that the more than $400,000 he admitted spending in the bribery charge was for other legislators ? and for work done at Stevens' home in Girdwood.

Yet another bullshit post by Dave. Go ahead and explain to us, in detail please, how this affects oil at all. Better yet, how about highlighting where IN THE ARTICLE YOU POSTED does it even hint at that? Go ahead. We're waiting.

 

[blackangst1]

Originally posted by: dmcowen674

Originally posted by: Common Courtesy
The profit comment is more related to the financial institutions and futures, not the oil companies.

Note the last line or two in the article

Despite oil's run, Cordier doesn't believe gas prices will rise substantially. Gasoline demand typically drops in the fall, and beginning Saturday, refiners will be able to sell cheaper winter-grade gasoline.

"Gasoline just really has a difficult time staying high this time of year," said Cordier.

You can't separate them.

Show me that the banks have no connection to Exxon et al.

It's collusion with their hands in the consumer pockets.

So what will gasoline drop down to?

It's still been going up here, never went down all year, been at $3.

Most P&Nrs have been saying they have been around $2.50 all year and that is cheap gas to them.

So do they believe $3 is not?

Is gas going to drop to $2.50 for me and be considered cheap gas while they go to $2 and it be considered free?

Show me that the banks have no connection to Exxon et al

Cant prove they are. You are the accuser. Go ahead big boy. Prove it.