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

[dmcowen674]

Hey

GOP supporters in here swear we never expand any refineries:

8-18-2008 Ocean platform could take 20 pct of US oil imports

HOUSTON - An oil terminal and pipeline network expected to be built off the Texas Gulf Coast and open in about two years would be capable of handling nearly 20 percent of the nation's daily imported oil.

Demand from expanding refineries along the coast, from Freeport to Port Arthur, is driving the $1.8 billion project, executives of the joint partnership said Monday. It will be the second offshore port in the Gulf of Mexico.

TOPS will be similar to an existing project called the Louisiana Offshore Oil Port, which handles about 12 percent of the nation's crude imports. LOOP has been around since 1981 and is tied by pipeline to about half the nation's refining capacity, much of it along the Mississippi River from the New Orleans area north to Baton Rouge.

 

[XZeroII]

I had trouble finding this thread. There wasn't any fearmonging in the title. Interesting...

 

[dmcowen674]

Originally posted by: XZeroII
I had trouble finding this thread. There wasn't any fearmonging in the title. Interesting...

Well we can account for $1.9 billion of the hundreds of billions in record profits they have made, that's prgress anyway.

 

[quest55720]

Originally posted by: dmcowen674

Originally posted by: XZeroII
I had trouble finding this thread. There wasn't any fearmonging in the title. Interesting...

Well we can account for $1.9 billion of the hundreds of billions in record profits they have made, that's prgress anyway.

Well now we just need an account for the hundreds of billions the government has made off of gas/oil. I guess bridges to no where is where those record tax revinues went towards. The government still makes more for doing nothing than the oil companies do.

 

[dmcowen674]

Originally posted by: quest55720

Originally posted by: dmcowen674

Originally posted by: XZeroII
I had trouble finding this thread. There wasn't any fearmonging in the title. Interesting...

Well we can account for $1.9 billion of the hundreds of billions in record profits they have made, that's prgress anyway.

Well now we just need an account for the hundreds of billions the government has made off of gas/oil.

I guess bridges to no where is where those record tax revinues went towards. The government still makes more for doing nothing than the oil companies do.

We know where a goodly portion of it has gone.......... Iraq

 

[Darwin333]

Originally posted by: dmcowen674
Hey

GOP supporters in here swear we never expand any refineries:

8-18-2008 Ocean platform could take 20 pct of US oil imports

HOUSTON - An oil terminal and pipeline network expected to be built off the Texas Gulf Coast and open in about two years would be capable of handling nearly 20 percent of the nation's daily imported oil.

Demand from expanding refineries along the coast, from Freeport to Port Arthur, is driving the $1.8 billion project, executives of the joint partnership said Monday. It will be the second offshore port in the Gulf of Mexico.

TOPS will be similar to an existing project called the Louisiana Offshore Oil Port, which handles about 12 percent of the nation's crude imports. LOOP has been around since 1981 and is tied by pipeline to about half the nation's refining capacity, much of it along the Mississippi River from the New Orleans area north to Baton Rouge.

Do you have any idea how good that is?

Here is the dirty little secret about our energy infrastructure. Port Fourchon handles a huge portion of our energy and right now it is the ONLY place capable of doing it. If Port Fourchon/Grand Isle takes a serious hurricane on the chin, terrorist attack, serious accident etc... we will be royally screwed. Forget gas prices and think gas lines that are a few miles long.

The LOOP/Port Fourchon is the most important piece of the our energy infrastructure. Period. And it has no backup whatsoever. There simply isn't any other place for those deepwater tankers to offload that 18% of the oil we import. Currently, Houston could pick up a few of the ships but nothing of real significance. Personally, I say its about damn time this happened. I know your not happy that private industry is doing it but this will be a HUGE improvement in our national security.

 

[dmcowen674]

That bubble got patched quick

8-19-2008 Oil rises above $114

NEW YORK - Oil prices rebounded Tuesday, jumping back above $114 barrel

In other Nymex trading, gasoline prices rose 4.87 cents to settle at $2.639 a gallon, while natural gas futures added 8.8 cents to settle at $7.976 per 1,000 cubic feet.

 

[Queasy]

You're nothing if not predictable.

 

[LegendKiller]

Originally posted by: dmcowen674
That bubble got patched quick

8-19-2008 Oil rises above $114

NEW YORK - Oil prices rebounded Tuesday, jumping back above $114 barrel

In other Nymex trading, gasoline prices rose 4.87 cents to settle at $2.639 a gallon, while natural gas futures added 8.8 cents to settle at $7.976 per 1,000 cubic feet.

So, no mention how this is about $30 cheaper than last month? Or how it actually touched 110 today?

You're such a fool Dave.

 

[dmcowen674]

Originally posted by: LegendKiller

Originally posted by: dmcowen674
That bubble got patched quick

8-19-2008 Oil rises above $114

NEW YORK - Oil prices rebounded Tuesday, jumping back above $114 barrel

In other Nymex trading, gasoline prices rose 4.87 cents to settle at $2.639 a gallon, while natural gas futures added 8.8 cents to settle at $7.976 per 1,000 cubic feet.

So, no mention how this is about $30 cheaper than last month? Or how it actually touched 110 today?

You're such a fool Dave.

Oil may be $30 "cheaper" to you but gas is just about back to $4 a gallon for me.

So how does that translate for you?

 

[LegendKiller]

Originally posted by: dmcowen674

Originally posted by: LegendKiller

Originally posted by: dmcowen674
That bubble got patched quick

8-19-2008 Oil rises above $114

NEW YORK - Oil prices rebounded Tuesday, jumping back above $114 barrel

In other Nymex trading, gasoline prices rose 4.87 cents to settle at $2.639 a gallon, while natural gas futures added 8.8 cents to settle at $7.976 per 1,000 cubic feet.

So, no mention how this is about $30 cheaper than last month? Or how it actually touched 110 today?

You're such a fool Dave.

Oil may be $30 "cheaper" to you but gas is just about back to $4 a gallon for me.

So how does that translate for you?

About back to $4? Did it move much? What is the history of your area? I highly doubt the small movement today moved your prices up much. Again, you always talk about the up movements, never the down. You're full of shit again.

As far as me, I'm smart, I don't own a car and ride the train.

 

[StageLeft]

Bubble is still bursting, stop jumping the gun.

 

[dmcowen674]

Originally posted by: LegendKiller

Originally posted by: dmcowen674

Originally posted by: LegendKiller

Originally posted by: dmcowen674
That bubble got patched quick

8-19-2008 Oil rises above $114

NEW YORK - Oil prices rebounded Tuesday, jumping back above $114 barrel

In other Nymex trading, gasoline prices rose 4.87 cents to settle at $2.639 a gallon, while natural gas futures added 8.8 cents to settle at $7.976 per 1,000 cubic feet.

So, no mention how this is about $30 cheaper than last month? Or how it actually touched 110 today?

You're such a fool Dave.

Oil may be $30 "cheaper" to you but gas is just about back to $4 a gallon for me.

So how does that translate for you?

About back to $4? Did it move much? What is the history of your area? I highly doubt the small movement today moved your prices up much. Again, you always talk about the up movements, never the down. You're full of shit again.

As far as me, I'm smart, I don't own a car and ride the train.

I had posted when it got down to as low as $3.59 about a month ago. It has been going up a dime every week since.

 

[EagleKeeper]

Maybe in your area. For the rest of the country is seems to be slowly dropping.

I arrived in the Bay area the first week of June and the local Shell near the hotel was $4.59.
I filled up this weekend for $4.09.
Since the 4th of July, each week, the price has been about $0.05 - $0.10 lower.

 

[SSSnail]

When they got you by the ball, they got you by the ball. Unless you chop off their arms, but then that's the hands that feed the mouth. My advise? Invest in Vaseline.

 

[LegendKiller]

Originally posted by: dmcowen674
I had posted when it got down to as low as $3.59 about a month ago. It has been going up a dime every week since.

What area? I will call around to some of your gas stations, citing names and amounts, just like I did for the milk thread. It's funny to see you lie your ass off, just like I know you are doing now.

 

[StageLeft]

Originally posted by: LegendKiller

Originally posted by: dmcowen674
I had posted when it got down to as low as $3.59 about a month ago. It has been going up a dime every week since.

What area? I will call around to some of your gas stations, citing names and amounts, just like I did for the milk thread. It's funny to see you lie your ass off, just like I know you are doing now.

I dunno, with the bad luck Dave seems to bring along with him where he goes I half believe him.

 

[Fingolfin269]

Originally posted by: dmcowen674

Originally posted by: LegendKiller

Originally posted by: dmcowen674

Originally posted by: LegendKiller

Originally posted by: dmcowen674
That bubble got patched quick

8-19-2008 Oil rises above $114

NEW YORK - Oil prices rebounded Tuesday, jumping back above $114 barrel

In other Nymex trading, gasoline prices rose 4.87 cents to settle at $2.639 a gallon, while natural gas futures added 8.8 cents to settle at $7.976 per 1,000 cubic feet.

So, no mention how this is about $30 cheaper than last month? Or how it actually touched 110 today?

You're such a fool Dave.

Oil may be $30 "cheaper" to you but gas is just about back to $4 a gallon for me.

So how does that translate for you?

About back to $4? Did it move much? What is the history of your area? I highly doubt the small movement today moved your prices up much. Again, you always talk about the up movements, never the down. You're full of shit again.

As far as me, I'm smart, I don't own a car and ride the train.

I had posted when it got down to as low as $3.59 about a month ago. It has been going up a dime every week since.

Do you live in some rural town with one gas station that just happens to also be on the interstate? I filled up for $3.22/g last night.

 

[glugglug]

Originally posted by: Skoorb

Originally posted by: LegendKiller

Originally posted by: dmcowen674
I had posted when it got down to as low as $3.59 about a month ago. It has been going up a dime every week since.

What area? I will call around to some of your gas stations, citing names and amounts, just like I did for the milk thread. It's funny to see you lie your ass off, just like I know you are doing now.

I dunno, with the bad luck Dave seems to bring along with him where he goes I half believe him.

$3.59 is lower than any station in this area has been recently.
But then again, NYC is well known for high prices. They had started to fall back below $4 in the 2 weeks before this increase.

 

[LegendKiller]

Originally posted by: glugglug

Originally posted by: Skoorb

Originally posted by: LegendKiller

Originally posted by: dmcowen674
I had posted when it got down to as low as $3.59 about a month ago. It has been going up a dime every week since.

What area? I will call around to some of your gas stations, citing names and amounts, just like I did for the milk thread. It's funny to see you lie your ass off, just like I know you are doing now.

I dunno, with the bad luck Dave seems to bring along with him where he goes I half believe him.

$3.59 is lower than any station in this area has been recently.
But then again, NYC is well known for high prices. They had started to fall back below $4 in the 2 weeks before this increase.

He isn't in NYC. Last I knew he was in Parsippany.


What a putz.

http://www.newjerseygasprices....-Troy_Hills/index.aspx

 

[StageLeft]

Dave, dave, Dave. Last time you said gas prices were on the way up I posted a link refuting it and you ignored it. I guess I can try again, although we know there's no convincing you, so this is more for our fun than anything else at this point. Gasoline prices have fallen nearly 40 cents a gallon from their record highs after 34 straight days of declines.

 

[nakedfrog]

I had an odd thing last week, I filled up @3.54, the next day it was up to 3.69, by Monday it was 3.54 again.

 

[dmcowen674]

Originally posted by: LegendKiller

Originally posted by: dmcowen674
I had posted when it got down to as low as $3.59 about a month ago. It has been going up a dime every week since.

What area? I will call around to some of your gas stations, citing names and amounts, just like I did for the milk thread. It's funny to see you lie your ass off, just like I know you are doing now.

Milk is still high here. You didn't prove anything with the milk thread.

Here I'll help you

Gulf Gas Station & Service
168 Morris St
Morristown, NJ 07960
Phone: (973) 605-2890

Valero Gas
163 Morris St
Morristown, NJ 07960-4215
Phone: (973) 455-9862

 

[Queasy]

Morristown, NJ

Low regular gas price is $3.49
High regular gas price is $3.89

 

[Thump553]

The weekly numbers I swa this morning were a bit unusual-crude inventory up 9.3 million barrrels-way higher than the 1 million expected, but gasoline inventories almost exactly the opposite-down way more than expected. Crude oil spot price currently just over 115.50.

Looks to me like the refineries (who may have the lowest profit margin in the entire oil chain) are keeping the spigot relatively closed. Barring a major upset, I'd expect gasoline (and maybe home heating oil) to continue to drift slowly down until very shortly after the election. That's my WAG, anyway.