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

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StageLeft

No Lifer
Sep 29, 2000
70,150
5
0
Originally posted by: dmcowen674
8-12-2008 BP shuts Georgia oil, gas pipelines as a precaution

BP (BP.L) has closed two oil and gas pipelines running from its Caspian Sea fields through Georgia but neither has been damaged by recent fighting in the country, a spokesman for the British oil major said on Tuesday.

The closure further limits BP's export options from the land-locked Caspian Sea after a fire damaged last week its key link to Turkey, Baku-Ceyhan, forcing to cut output from offshore Azeri fields to 250,000 barrels per day from 850,000 bpd.

On Tuesday, the company closed the 155,000-barrel a day Western Route Export Pipeline (WREP) running from Baku in Azerbaijan to the Georgian port of Supsa until it feels safe to reopen it.

"As a precaution we have stopped pumping oil through that earlier this morning," the spokesman said, adding that the South Caucasus Pipeline (SCP) which runs to the border with Turkey was also shut on Tuesday.

The 830-km WREP line transports oil from the Chirag field in the Caspian Sea through Azerbaijan to Supsa with about half of the pipeline in Georgia.

The 692-km SCP, which is buried underground, carries gas from the Shah Deniz field in the Caspian Sea through Georgia to the Turkish border, where it links to a Turkish-built extension joining SCP to the domestic supply grid at Erzurum.

The closure leaves BP with only Russia's Black Sea port of Novorossiisk and Georgia's Black Sea ports of Batumi and Kuleva as the only available export options.
Adding inane posts to the thread won't make your title about oil soaring any closer to reality.

 

ElFenix

Elite Member
Super Moderator
Mar 20, 2000
102,406
8,585
126
PRICE* CHANGE % CHANGE TIME
Nymex Crude Future 113.24 -1.21 -1.06 14:54
Dated Brent Spot 109.93 -1.39 -1.25 15:18
WTI Cushing Spot 113.54 -.91 -.80 14:15

still down
 

StageLeft

No Lifer
Sep 29, 2000
70,150
5
0
Originally posted by: ElFenix
PRICE* CHANGE % CHANGE TIME
Nymex Crude Future 113.24 -1.21 -1.06 14:54
Dated Brent Spot 109.93 -1.39 -1.25 15:18
WTI Cushing Spot 113.54 -.91 -.80 14:15

still down
It's soaring like an eagle diving toward some prey. Perhaps that's what he means.
 

Pliablemoose

Lifer
Oct 11, 1999
25,195
0
56
Originally posted by: Skoorb
Originally posted by: ElFenix
PRICE* CHANGE % CHANGE TIME
Nymex Crude Future 113.24 -1.21 -1.06 14:54
Dated Brent Spot 109.93 -1.39 -1.25 15:18
WTI Cushing Spot 113.54 -.91 -.80 14:15

still down
It's soaring like an eagle diving toward some prey. Perhaps that's what he means.

Maybe he meant soreing like the pain after you get smacked in the face by reality disguised as a 2x4
 

JohnCU

Banned
Dec 9, 2000
16,528
4
0
Originally posted by: dmcowen674
There are two tropical systems steaming towards the Gulf.

ummm they are tropical waves and are out in the middle of the eastern atlantic.
 

LegendKiller

Lifer
Mar 5, 2001
18,256
68
86
Originally posted by: JohnCU
Originally posted by: dmcowen674
There are two tropical systems steaming towards the Gulf.

ummm they are tropical waves and are out in the middle of the eastern atlantic.

You forget, The Great Prognosticator can tell right now they'll be CAT5 hurricanes that will strike every oil rig in the Gulf, shutting down production, then hitting the refineries. Of course, he'll claim it's all of the Republican's fault. If we say he's full of hot air he'll claim we are working for the oil companies to create hurricanes to raise oil prices.

Do not doubt him, he's always right.
 

XZeroII

Lifer
Jun 30, 2001
12,572
0
0
Originally posted by: dmcowen674
There are two tropical systems steaming towards the Gulf.

Still waiting to find out why the thread title changed to "Oil Soars...". Are you planning on commenting on that, or changing the title?
 

351Cleveland

Golden Member
Apr 14, 2001
1,381
6
81
Originally posted by: dmcowen674
Originally posted by: Capt Caveman
This thread should be locked for the misleading and false title.

Interesting since that was the news article title from that night.

Key phrase, "that night." Might have a bit more credibility if you updated the thread title with Tuesday's results, showing oil down to $113 despite the Georgian conflict, BP shutting down pipelines, etc. But it's your thread, do as you wish.

I would agree that the topic is improperly titled... for a thread that is updated nearly daily, you seem to let the title sit stagnant longer than it should when the price isnt climbing.
 

dmcowen674

No Lifer
Oct 13, 1999
54,889
47
91
www.alienbabeltech.com
Originally posted by: XZeroII
Originally posted by: dmcowen674
There are two tropical systems steaming towards the Gulf.

Still waiting to find out why the thread title changed to "Oil Soars...". Are you planning on commenting on that, or changing the title?

Here is todays headlines after last night they said prices would soar.

Notice they are not even giving the names of the criminal "Advisers" now.


8-12-2008 Crude oil prices fall a bit Tuesday

NEW YORK, Aug. 12 (UPI) -- Crude oil and gas prices slid lower Tuesday as a major energy adviser said market fundamentals were "easing."

The International Energy Agency Tuesday pointed to "easing fundamentals and potentially higher stocks in the months to come," The Wall Street Journal reported.

The U.S. Department of Energy also lowered its estimate for the 2008 average price of oil to $119.09 per barrel, down 6.5 percent from a previous estimate, the Journal reported.

On the New York Mercantile Exchange, oil prices dropped $1.57 to $113 per barrel. Heating oil fell 0.0418 cents to $3.0817 per gallon. Reformulated blendstock gasoline prices fell 0.0229 cents to $2.8496 per gallon. Natural gas prices fell 0.075 cents to $8.335 per million British thermal units.

The national average retail price of unleaded regular gasoline fell 0.011 cent to $3.799 per gallon, the AAA Daily Fuel Gauge Report said.

 

351Cleveland

Golden Member
Apr 14, 2001
1,381
6
81
I'm going to bed after this one...

So, price at the end of the day Tuesday was $113, down $1.40. So that means that it was $114.40 or so to start the day...

so the article cited for the 8-11 headline says oil was up $1.04 at $116.16. Working the math backwards... Monday oil started around $115... so... in order to start Tuesday at $114.40, it couldnt have gone UP on Monday... could it? According to this: http://www.upi.com/finance/?Page=CHART&Ticker=%24OIL it didnt actually go UP on Monday. IEDIT: I like this chart better: http://www.upi.com/finance/?Pa...STORICAL&Ticker=%24OIL It might have been up at one point, but didnt end there. So "soaring" was probably the exact wrong title for the thread? I mean considering that you linked to a news article from 3:30pm at about 1am the next morning, I can only guess that you just didnt have time to REALLy find out what happened to oil prices on Monday? I could speculate that you are bending news to suit your personal agenda... but we all know you better than that Dave :)

PS: "Soaring" = $1.04 rise, but "dropped a bit" = $1.40 drop?? I take it back... you are definitely bending the truth to your personal agenda.
 

dmcowen674

No Lifer
Oct 13, 1999
54,889
47
91
www.alienbabeltech.com
Originally posted by: 351Cleveland
I'm going to bed after this one...

So, price at the end of the day Tuesday was $113, down $1.40. So that means that it was $114.40 or so to start the day...

so the article cited for the 8-11 headline says oil was up $1.04 at $116.16. Working the math backwards... Monday oil started around $115... so... in order to start Tuesday at $114.40, it couldnt have gone UP on Monday... could it? According to this: http://www.upi.com/finance/?Page=CHART&Ticker=%24OIL it didnt actually go UP on Monday. IEDIT: I like this chart better: http://www.upi.com/finance/?Pa...STORICAL&Ticker=%24OIL It might have been up at one point, but didnt end there. So "soaring" was probably the exact wrong title for the thread? I mean considering that you linked to a news article from 3:30pm at about 1am the next morning, I can only guess that you just didnt have time to REALLy find out what happened to oil prices on Monday? I could speculate that you are bending news to suit your personal agenda... but we all know you better than that Dave :)

PS: "Soaring" = $1.04 rise, but "dropped a bit" = $1.40 drop?? I take it back... you are definitely bending the truth to your personal agenda.

That's a lot of hot air

Last I checked oil is still well over $100 and still paying over $40 to fill the tank.
 

LegendKiller

Lifer
Mar 5, 2001
18,256
68
86
Originally posted by: dmcowen674
Originally posted by: 351Cleveland
I'm going to bed after this one...

So, price at the end of the day Tuesday was $113, down $1.40. So that means that it was $114.40 or so to start the day...

so the article cited for the 8-11 headline says oil was up $1.04 at $116.16. Working the math backwards... Monday oil started around $115... so... in order to start Tuesday at $114.40, it couldnt have gone UP on Monday... could it? According to this: http://www.upi.com/finance/?Page=CHART&Ticker=%24OIL it didnt actually go UP on Monday. IEDIT: I like this chart better: http://www.upi.com/finance/?Pa...STORICAL&Ticker=%24OIL It might have been up at one point, but didnt end there. So "soaring" was probably the exact wrong title for the thread? I mean considering that you linked to a news article from 3:30pm at about 1am the next morning, I can only guess that you just didnt have time to REALLy find out what happened to oil prices on Monday? I could speculate that you are bending news to suit your personal agenda... but we all know you better than that Dave :)

PS: "Soaring" = $1.04 rise, but "dropped a bit" = $1.40 drop?? I take it back... you are definitely bending the truth to your personal agenda.

That's a lot of hot air

Last I checked oil is still well over $100 and still paying over $40 to fill the tank.


Who gives a shit what you're paying per tank. It's a meaningless measurement.
 

dmcowen674

No Lifer
Oct 13, 1999
54,889
47
91
www.alienbabeltech.com
Originally posted by: LegendKiller
Originally posted by: dmcowen674
Originally posted by: 351Cleveland
I'm going to bed after this one...

So, price at the end of the day Tuesday was $113, down $1.40. So that means that it was $114.40 or so to start the day...

so the article cited for the 8-11 headline says oil was up $1.04 at $116.16. Working the math backwards... Monday oil started around $115... so... in order to start Tuesday at $114.40, it couldnt have gone UP on Monday... could it? According to this: http://www.upi.com/finance/?Page=CHART&Ticker=%24OIL it didnt actually go UP on Monday. IEDIT: I like this chart better: http://www.upi.com/finance/?Pa...STORICAL&Ticker=%24OIL It might have been up at one point, but didnt end there. So "soaring" was probably the exact wrong title for the thread? I mean considering that you linked to a news article from 3:30pm at about 1am the next morning, I can only guess that you just didnt have time to REALLy find out what happened to oil prices on Monday? I could speculate that you are bending news to suit your personal agenda... but we all know you better than that Dave :)

PS: "Soaring" = $1.04 rise, but "dropped a bit" = $1.40 drop?? I take it back... you are definitely bending the truth to your personal agenda.

That's a lot of hot air

Last I checked oil is still well over $100 and still paying over $40 to fill the tank.


Who gives a shit what you're paying per tank.

It's a meaningless measurement.

Only to the rich
 

StageLeft

No Lifer
Sep 29, 2000
70,150
5
0
It is meaningless without knowing how big your tank is and perhasp even how far down you let the gas go.
 

LegendKiller

Lifer
Mar 5, 2001
18,256
68
86
Originally posted by: dmcowen674
Originally posted by: LegendKiller
Originally posted by: dmcowen674
Originally posted by: 351Cleveland
I'm going to bed after this one...

So, price at the end of the day Tuesday was $113, down $1.40. So that means that it was $114.40 or so to start the day...

so the article cited for the 8-11 headline says oil was up $1.04 at $116.16. Working the math backwards... Monday oil started around $115... so... in order to start Tuesday at $114.40, it couldnt have gone UP on Monday... could it? According to this: http://www.upi.com/finance/?Page=CHART&Ticker=%24OIL it didnt actually go UP on Monday. IEDIT: I like this chart better: http://www.upi.com/finance/?Pa...STORICAL&Ticker=%24OIL It might have been up at one point, but didnt end there. So "soaring" was probably the exact wrong title for the thread? I mean considering that you linked to a news article from 3:30pm at about 1am the next morning, I can only guess that you just didnt have time to REALLy find out what happened to oil prices on Monday? I could speculate that you are bending news to suit your personal agenda... but we all know you better than that Dave :)

PS: "Soaring" = $1.04 rise, but "dropped a bit" = $1.40 drop?? I take it back... you are definitely bending the truth to your personal agenda.

That's a lot of hot air

Last I checked oil is still well over $100 and still paying over $40 to fill the tank.


Who gives a shit what you're paying per tank.

It's a meaningless measurement.

Only to the rich

It's meaningless because you could have a 40gal tank. You could be driving a gas guzzler. You could be using premium. You could be going through your gas at stupid rates. You could be filling it up on E, or on 15/16 of a tank.

It's meaningless because it's a stupid measurement that has no grounding.

I am far from "rich", I don't even own a car. However, I am logical and anybody with half a brain would agree that that measurement is meaningless.
 

yuppiejr

Golden Member
Jul 31, 2002
1,317
0
0
Originally posted by: LegendKiller


It's meaningless because you could have a 40gal tank. You could be driving a gas guzzler. You could be using premium. You could be going through your gas at stupid rates. You could be filling it up on E, or on 15/16 of a tank.

It's meaningless because it's a stupid measurement that has no grounding.

I am far from "rich", I don't even own a car. However, I am logical and anybody with half a brain would agree that that measurement is meaningless.

I agree with you, however those arguing with you aren't interested in logic - it's all about fanning the emotional flames of "crisis" at every turn and trying to flip this into some sort of class struggle issue. I guess if I were pushing a socialist/communist agenda I'd be trying to energize people into seeing this as a "rich versus commons" issue as well.
 

yuppiejr

Golden Member
Jul 31, 2002
1,317
0
0
Originally posted by: dmcowen674
Originally posted by: 351Cleveland
I'm going to bed after this one...

So, price at the end of the day Tuesday was $113, down $1.40. So that means that it was $114.40 or so to start the day...

so the article cited for the 8-11 headline says oil was up $1.04 at $116.16. Working the math backwards... Monday oil started around $115... so... in order to start Tuesday at $114.40, it couldnt have gone UP on Monday... could it? According to this: http://www.upi.com/finance/?Page=CHART&Ticker=%24OIL it didnt actually go UP on Monday. IEDIT: I like this chart better: http://www.upi.com/finance/?Pa...STORICAL&Ticker=%24OIL It might have been up at one point, but didnt end there. So "soaring" was probably the exact wrong title for the thread? I mean considering that you linked to a news article from 3:30pm at about 1am the next morning, I can only guess that you just didnt have time to REALLy find out what happened to oil prices on Monday? I could speculate that you are bending news to suit your personal agenda... but we all know you better than that Dave :)

PS: "Soaring" = $1.04 rise, but "dropped a bit" = $1.40 drop?? I take it back... you are definitely bending the truth to your personal agenda.

That's a lot of hot air

Last I checked oil is still well over $100 and still paying over $40 to fill the tank.

Nice deflection, now back to the point - still waiting for an explanation to this question:

"Soaring" = $1.04 rise, but "dropped a bit" = $1.40 drop??

.. if you have an agenda that's fine, but at least have the spine to admit it. This thread has been a propaganda hack job selective with the facts on the "Inconvenient Truth" order of magnitude. You might want to find that rock and crawl back under before you get a sunburn. You guys are going to run out of crisis' to pimp before the election if facts keep getting in the way like this.