Oil thread 9-7-06:Former BP head of Pipeline invokes 5th

[dmcowen674]

Cool :thumbsup:

Latest excuse

7-30-2005 Texas and Lousiaina Refinery Fires Push Oil Prices Past $60 Per Barrel

Back-to-back refinery fires in Texas and Louisiana, as well as a North Sea oil field fire, worried oil traders on Friday

In addition to concerns about refinery operations, traders have been on edge over the world's limited excess oil-production capacity, which leaves little room for outages given strong demand from China and United States.

Supply outages, such as refinery blackouts and weather-related shutdowns, have factored into crude's upward movement in 2004 and much of this year.

Oil prices are now more than 40 percent higher from a year ago.

 

[db]

Cartoon

 

[dmcowen674]

Originally posted by: db
Cartoon

So true, especially now.

 

[dmcowen674]

8-1-2005 Oil Prices Soar on Saudi King's Death

Minutes after the news of the Saudi Arabian king's death broke out in Singapore, light, sweet crude for September delivery spiked 60 cents to reach $61.11 a barrel, its highest in more than two weeks.

Heating oil was up by a penny and a half to at $1.6915 a gallon (3.8 liters) while gasoline gained a cent at $1.7404 a gallon.

Elsewhere in the Middle East, Iran on Sunday threatened to restart uranium reprocessing work if negotiators from Britain, France and Germany do not immediately offer a promised package of incentives to entice Tehran to freeze its nuclear program.

"If supply from Iran is suspended because of geopolitical developments, it will be a severe threat to the world's oil supply," said senior commodities strategist Tetsu Emori of Mitsui Bussan Futures in Tokyo, Japan.

 

[Forsythe]

Originally posted by: dmcowen674

Originally posted by: db
Cartoon

So true, especially now.

lol, so very true.

But i doubt his death will have a continuing impact on the price of oil. 'lest it be used as an excuse to boost the oil price.

 

[EagleKeeper]

Originally posted by: dmcowen674
Elsewhere in the Middle East, Iran on Sunday threatened to restart uranium reprocessing work if negotiators from Britain, France and Germany do not immediately offer a promised package of incentives to entice Tehran to freeze its nuclear program.

"If supply from Iran is suspended because of geopolitical developments, it will be a severe threat to the world's oil supply," said senior commodities strategist Tetsu Emori of Mitsui Bussan Futures in Tokyo, Japan.

Sounds like they are learning from North Korea.
Blackmail and then break promises.

If they shut off oil to the Western world, they will either cripple their economy or sell it to China/Japan.

Oil that was then going to those countries/area will get diverted westward.

As long as they pump, it will get sold.

They will have to actually stop pumping and cut their own throat. Meanwhile the speculaters will jack up the price knowing that they hypesters will ignore this fact.

Same goes with Saudi. They can not close down the pumps and it is the specs that drive up the price, not the pumpers.

 

[dmcowen674]

Originally posted by: EagleKeeper

Originally posted by: dmcowen674
Elsewhere in the Middle East, Iran on Sunday threatened to restart uranium reprocessing work if negotiators from Britain, France and Germany do not immediately offer a promised package of incentives to entice Tehran to freeze its nuclear program.

"If supply from Iran is suspended because of geopolitical developments, it will be a severe threat to the world's oil supply," said senior commodities strategist Tetsu Emori of Mitsui Bussan Futures in Tokyo, Japan.

Sounds like they are learning from North Korea.
Blackmail and then break promises.

If they shut off oil to the Western world, they will either cripple their economy or sell it to China/Japan.

Oil that was then going to those countries/area will get diverted westward.

As long as they pump, it will get sold.

They will have to actually stop pumping and cut their own throat. Meanwhile the speculaters will jack up the price knowing that they hypesters will ignore this fact.

Same goes with Saudi. They can not close down the pumps and it is the specs that drive up the price, not the pumpers.

New record yesterday, Gas stations raised prices 15-30 cents overnight :thumbsup:

8-2-2005 Oil prices ease after reaching record high

LONDON - World oil prices fell, a day after striking a historic peak above 62 dollars

New York's main contract, light sweet crude for delivery in September, fell 19 cents to 61.38 dollars per barrel in electronic dealing.

The contract had struck a record 62.30 dollars on Monday, before reaching a new closing high of 61.57 dollars, mainly on concerns about possible fourth-quarter supply shortages owing to disruptions across refineries in the United States and Europe.
==============================================
Wow, Gas pumps and Oil delivery Companies must be empty and have no oil according to the traders.

Anyone wait on long lines only for the station to have no Gas???

 

[dmcowen674]

The Bush Regime is not and cannot get away with spewing any more Bullsh!t.

Gas prices continues to rise everyday over here. Went up another 10 cents here, to averaging $2.30 for regular here.

Not sure why Californians are saying that gas has stabilzed over there.

Can any other Californians confirm this?

Is the Oil Barons leveling out prices across the U.S. now?

8-4-2005 Oil leaps on refinery woes and hurricane fears

LONDON - Oil prices leapt a dollar on Thursday as fears ran high about the risk of supply disruption and a severely overstretched global refining system.

Brent futures gained 95 cents to $60.60.

"The oil system, both upstream and downstream, is being run close to sustainable limits and the tensions created by the absence of slack are now the key driver of prices," Barclays Capital said in a note.

Adding to the impact of a spate of refinery outages in the United States, trade sources said on Thursday that ExxonMobil had delayed the restart of its 245,000 barrels per day refinery in Joliet, Illinois.

One source said the delay could be as much as 10 days.

The Organization of the Petroleum Exporting Countries, which is pumping at the highest level for 26 years, has repeatedly blamed lack of refining capacity rather than a shortage of overall crude on current price strength.

Most OPEC members are already pumping at full tilt

Geopolitical risks were also at the forefront of traders' minds. The death of Saudi Arabia's King Fahd earlier this week, together with news Iran's new president was pressing ahead with the country's nuclear program, has raised fears about possible instability and disruption of Middle Eastern oil supplies.

Analysts were worried already stretched supplies could be threatened further by an unusually active Atlantic hurricane season.

=====================================================
Looks to me that these "traders" and "Analysts" now dictate and control the world.

I'm sure they are employed by Haliburton and the Oil and Gas Barons so it is a conflict of interest as well.

 

[EagleKeeper]

Originally posted by: dmcowen674
The Bush Regime is not and cannot get away with spewing any more Bullsh!t.

Gas prices continues to rise everyday over here. Went up another 10 cents here, to averaging $2.30 for regular here.

Not sure why Californians are saying that gas has stabilzed over there.

Can any other Californians confirm this?

Is the Oil Barons leveling out prices across the U.S. now?

Holding fairly steady between $2.41 & $2.49 here in LV depending on the stations.

Some fluctuations over the past week +/- 0.05 at the most.

 

[dmcowen674]

Originally posted by: EagleKeeper

Originally posted by: dmcowen674
The Bush Regime is not and cannot get away with spewing any more Bullsh!t.

Gas prices continues to rise everyday over here. Went up another 10 cents here, to averaging $2.30 for regular here.

Not sure why Californians are saying that gas has stabilzed over there.

Can any other Californians confirm this?

Is the Oil Barons leveling out prices across the U.S. now?

Holding fairly steady between $2.41 & $2.49 here in LV depending on the stations.

Some fluctuations over the past week +/- 0.05 at the most.

Thanks for the update from almost California.

Are you happy paying $2.50?

Are you willing and happy to pay $3.00? $4.00?

What is your pain threshold price?

 

[EagleKeeper]

Not happy, however, when my commute is 10 feet, the pain does not really exist until I need to vacation.

Pain threashold will exist when driving for a 2 day stretch become more costly in fuel than flying.

It was a shock a year ago coming from $1.60 in NJ to $2 after a 6 month hiatus.

 

[dmcowen674]

Originally posted by: EagleKeeper
Not happy, however, when my commute is 10 feet, the pain does not really exist until I need to vacation.

Pain threashold will exist when driving for a 2 day stretch become more costly in fuel than flying.

It was a shock a year ago coming from $1.60 in NJ to $2 after a 6 month hiatus.

Cool, thanks.

My commute cost has gone from $90 week to $120 weekly and I see the refineries from my home and where I work.

They are cranking like mad everyday and don't seem to be running out of gas like the Media and Government is saying. I saw a Gas tanker at the station closest to me last night too, wonder where the gas in the tanker came from since we are obviously out of gas.

 

[Forsythe]

Originally posted by: dmcowen674

Originally posted by: EagleKeeper
Not happy, however, when my commute is 10 feet, the pain does not really exist until I need to vacation.

Pain threashold will exist when driving for a 2 day stretch become more costly in fuel than flying.

It was a shock a year ago coming from $1.60 in NJ to $2 after a 6 month hiatus.

Cool, thanks.

My commute cost has gone from $90 week to $120 weekly and I see the refineries from my home and where I work.

They are cranking like mad everyday and don't seem to be running out of gas like the Media and Government is saying. I saw a Gas tanker at the station closest to me last night too, wonder where the gas in the tanker came from since we are obviously out of gas.

Currently we pay around 9.5 danish kroner pr. litre, that's around 1.5 dollars. That makes it 5,9711203183132588248978520447141 Dollar pr. gallon, if i didn't screw up. That's an estimate so i should remove some decimales.
Lets go with 6 flat. But it's risen a bit lately.
We have loads of taxes on it, to control the amount of gasses we burn into the atmosphere.

 

[GoPackGo]

Originally posted by: dmcowen674

Originally posted by: EagleKeeper
Not happy, however, when my commute is 10 feet, the pain does not really exist until I need to vacation.

Pain threashold will exist when driving for a 2 day stretch become more costly in fuel than flying.

It was a shock a year ago coming from $1.60 in NJ to $2 after a 6 month hiatus.

Cool, thanks.

My commute cost has gone from $90 week to $120 weekly and I see the refineries from my home and where I work.

They are cranking like mad everyday and don't seem to be running out of gas like the Media and Government is saying. I saw a Gas tanker at the station closest to me last night too, wonder where the gas in the tanker came from since we are obviously out of gas.

Dave,

Just sleep in your car...

That will lower your costs. Think of it as a mobile home.

 

[dmcowen674]

Oil prices climbed to a new closing high of $62.31 a barrel on Friday.

 

[charrison]

Originally posted by: dmcowen674

Originally posted by: EagleKeeper
Not happy, however, when my commute is 10 feet, the pain does not really exist until I need to vacation.

Pain threashold will exist when driving for a 2 day stretch become more costly in fuel than flying.

It was a shock a year ago coming from $1.60 in NJ to $2 after a 6 month hiatus.

Cool, thanks.

My commute cost has gone from $90 week to $120 weekly and I see the refineries from my home and where I work.

They are cranking like mad everyday and don't seem to be running out of gas like the Media and Government is saying. I saw a Gas tanker at the station closest to me last night too, wonder where the gas in the tanker came from since we are obviously out of gas.

Damn you burning more gas in a week than my SUV does in a month. Maybe you should get a get more fuel effecient car...

 

[dmcowen674]

Originally posted by: charrison

Originally posted by: dmcowen674

Originally posted by: EagleKeeper
Not happy, however, when my commute is 10 feet, the pain does not really exist until I need to vacation.

Pain threashold will exist when driving for a 2 day stretch become more costly in fuel than flying.

It was a shock a year ago coming from $1.60 in NJ to $2 after a 6 month hiatus.

Cool, thanks.

My commute cost has gone from $90 week to $120 weekly and I see the refineries from my home and where I work.

They are cranking like mad everyday and don't seem to be running out of gas like the Media and Government is saying. I saw a Gas tanker at the station closest to me last night too, wonder where the gas in the tanker came from since we are obviously out of gas.

Damn you burning more gas in a week than my SUV does in a month. Maybe you should get a get more fuel effecient car...

A 1998 Caravan built in Oct 1997, it's getting old by American vehicle standards.

The wipers stopped working this week.

I know the motor is OK because once in a while it will do a sweep.

Have to get it fixed next week because inspection sticker is up this month.

It still gets 22+ mpg though.

I commute across the World's Longest Bridge everyday, most days have to go across 4 times.

The Lake Pontchartrain Causeway. The longest bridge in the world,

 

[charrison]

Originally posted by: dmcowen674

Originally posted by: charrison

Originally posted by: dmcowen674

Originally posted by: EagleKeeper
Not happy, however, when my commute is 10 feet, the pain does not really exist until I need to vacation.

Pain threashold will exist when driving for a 2 day stretch become more costly in fuel than flying.

It was a shock a year ago coming from $1.60 in NJ to $2 after a 6 month hiatus.

Cool, thanks.

My commute cost has gone from $90 week to $120 weekly and I see the refineries from my home and where I work.

They are cranking like mad everyday and don't seem to be running out of gas like the Media and Government is saying. I saw a Gas tanker at the station closest to me last night too, wonder where the gas in the tanker came from since we are obviously out of gas.

Damn you burning more gas in a week than my SUV does in a month. Maybe you should get a get more fuel effecient car...

A 1998 Caravan built in Oct 1997, it's getting old by American vehicle standards.

The wipers stopped working this week.

I know the motor is OK because once in a while it will do a sweep.

Have to get it fixed next week because inspection sticker is up this month.

It still gets 22+ mpg though.

I commute across the World's Longest Bridge everyday, most days have to go across 4 times.

The Lake Pontchartrain Causeway. The longest bridge in the world,

22mpg that is pathetic. Very low MPG vehicle for such a long drive, yet you rail against other peoples vehicle choices.

 

[dmcowen674]

Originally posted by: charrison

Originally posted by: dmcowen674

Originally posted by: charrison

Originally posted by: dmcowen674

Originally posted by: EagleKeeper
Not happy, however, when my commute is 10 feet, the pain does not really exist until I need to vacation.

Pain threashold will exist when driving for a 2 day stretch become more costly in fuel than flying.

It was a shock a year ago coming from $1.60 in NJ to $2 after a 6 month hiatus.

Cool, thanks.

My commute cost has gone from $90 week to $120 weekly and I see the refineries from my home and where I work.

They are cranking like mad everyday and don't seem to be running out of gas like the Media and Government is saying. I saw a Gas tanker at the station closest to me last night too, wonder where the gas in the tanker came from since we are obviously out of gas.

Damn you burning more gas in a week than my SUV does in a month. Maybe you should get a get more fuel effecient car...

A 1998 Caravan built in Oct 1997, it's getting old by American vehicle standards.

The wipers stopped working this week.

I know the motor is OK because once in a while it will do a sweep.

Have to get it fixed next week because inspection sticker is up this month.

It still gets 22+ mpg though.

I commute across the World's Longest Bridge everyday, most days have to go across 4 times.

The Lake Pontchartrain Causeway. The longest bridge in the world,

22mpg that is pathetic. Very low MPG vehicle for such a long drive, yet you rail against other peoples vehicle choices.

Really? How many mpg does your SUV get???

You going to buy me a new Hybrid?

 

[charrison]

Originally posted by: dmcowen674

Originally posted by: charrison

Originally posted by: dmcowen674

Originally posted by: charrison

Originally posted by: dmcowen674

Originally posted by: EagleKeeper
Not happy, however, when my commute is 10 feet, the pain does not really exist until I need to vacation.

Pain threashold will exist when driving for a 2 day stretch become more costly in fuel than flying.

It was a shock a year ago coming from $1.60 in NJ to $2 after a 6 month hiatus.

Cool, thanks.

My commute cost has gone from $90 week to $120 weekly and I see the refineries from my home and where I work.

They are cranking like mad everyday and don't seem to be running out of gas like the Media and Government is saying. I saw a Gas tanker at the station closest to me last night too, wonder where the gas in the tanker came from since we are obviously out of gas.

Damn you burning more gas in a week than my SUV does in a month. Maybe you should get a get more fuel effecient car...

A 1998 Caravan built in Oct 1997, it's getting old by American vehicle standards.

The wipers stopped working this week.

I know the motor is OK because once in a while it will do a sweep.

Have to get it fixed next week because inspection sticker is up this month.

It still gets 22+ mpg though.

I commute across the World's Longest Bridge everyday, most days have to go across 4 times.

The Lake Pontchartrain Causeway. The longest bridge in the world,

22mpg that is pathetic. Very low MPG vehicle for such a long drive, yet you rail against other peoples vehicle choices.

Really? How many mpg does your SUV get???

You going to buy me a new Hybrid?

About 25% less than your van, but you are driving far more. You are wasting far more gas than myself.

Actually since you do so many highway miles would be better offer with a normal gas high mpg vehicle. I wont buy you a car, but you can easily purchase a slightly used high mpg vehicle that wll save you money every month even if you have to finance the purchase.

 

[dmcowen674]

Originally posted by: charrison

Originally posted by: dmcowen674

Originally posted by: charrison

Originally posted by: dmcowen674

Originally posted by: charrison

Originally posted by: dmcowen674

Originally posted by: EagleKeeper
Not happy, however, when my commute is 10 feet, the pain does not really exist until I need to vacation.

Pain threashold will exist when driving for a 2 day stretch become more costly in fuel than flying.

It was a shock a year ago coming from $1.60 in NJ to $2 after a 6 month hiatus.

Cool, thanks.

My commute cost has gone from $90 week to $120 weekly and I see the refineries from my home and where I work.

They are cranking like mad everyday and don't seem to be running out of gas like the Media and Government is saying. I saw a Gas tanker at the station closest to me last night too, wonder where the gas in the tanker came from since we are obviously out of gas.

Damn you burning more gas in a week than my SUV does in a month. Maybe you should get a get more fuel effecient car...

A 1998 Caravan built in Oct 1997, it's getting old by American vehicle standards.

The wipers stopped working this week.

I know the motor is OK because once in a while it will do a sweep.

Have to get it fixed next week because inspection sticker is up this month.

It still gets 22+ mpg though.

I commute across the World's Longest Bridge everyday, most days have to go across 4 times.

The Lake Pontchartrain Causeway. The longest bridge in the world,

22mpg that is pathetic. Very low MPG vehicle for such a long drive, yet you rail against other peoples vehicle choices.

Really? How many mpg does your SUV get???

You going to buy me a new Hybrid?

About 25% less than your van, but you are driving far more. You are wasting far more gas than myself.

Actually since you do so many highway miles would be better offer with a normal gas high mpg vehicle. I wont buy you a car, but you can easily purchase a slightly used high mpg vehicle that wll save you money every month even if you have to finance the purchase.

I'll look around for a foreign car with no bells and whistles.

Hvae to see how much the wiper failure is going to set me back with the Van first.

 

[Powermoloch]

I work at a gas station. I'm not surprised if a regular unleaded will top out 3.00 in any time in the future. It is just to show it's more about supply and demand, and the availability of the oil reserves left in the world (for what we know so far) and the cost of refining the oil. Including, shipping, taxes, etc makes a diff

 

[dmcowen674]

Originally posted by: Powermoloch
I work at a gas station. I'm not surprised if a regular unleaded will top out 3.00 in any time in the future. It is just to show it's more about supply and demand, and the availability of the oil reserves left in the world (for what we know so far) and the cost of refining the oil. Including, shipping, taxes, etc makes a diff

Oh come on. You're so brainwashed, so sad

The cost of refining the oil, including, shipping, taxes, etc has not changed.

The Supply is not in any danger, the Oil Barons themselves have been saying for the last year that the Market is actually OVER-supplied.

Has your station ever ran out of gas???

 

[EagleKeeper]

Originally posted by: dmcowen674

Originally posted by: Powermoloch
I work at a gas station. I'm not surprised if a regular unleaded will top out 3.00 in any time in the future. It is just to show it's more about supply and demand, and the availability of the oil reserves left in the world (for what we know so far) and the cost of refining the oil. Including, shipping, taxes, etc makes a diff

Oh come on. You're so brainwashed, so sad

The cost of refining the oil, including, shipping, taxes, etc has not changed.

The Supply is not in any danger, the Oil Barons themselves have been saying for the last year that the Market is actually OVER-supplied.

Has your station ever ran out of gas???

Only in the 70's when there was an actual fuel supply disruption.

The rest of the increases have been due to speculation and government handouts (taxes that do not go to support the transportation infrastructure).

Specs drive up the costs to the distributor, then the suppliers see that the market can bear such a cost and reset the base price. A never ending spiral which is also fueled by media frenzy over hyping news that in other times would be ignored, but no fuels speculation.

Also, there are different qualities of crude oil; whcih affects the refining process/costs.

That information is conviently ignored by the fear-mongers.

 

[0marTheZealot]

Originally posted by: dmcowen674

Originally posted by: Powermoloch
I work at a gas station. I'm not surprised if a regular unleaded will top out 3.00 in any time in the future. It is just to show it's more about supply and demand, and the availability of the oil reserves left in the world (for what we know so far) and the cost of refining the oil. Including, shipping, taxes, etc makes a diff

Oh come on. You're so brainwashed, so sad

The cost of refining the oil, including, shipping, taxes, etc has not changed.

The Supply is not in any danger, the Oil Barons themselves have been saying for the last year that the Market is actually OVER-supplied.

Has your station ever ran out of gas???

1. The cost of refining has been going up, simply because the amount of light sweet crude (West Texas Intermediate, Brent, Arabian Light etc etc) has been declining. Light sweet crude refines more easily into products like gasoline and doesn't require lots of sulfur scrubbers. In place of light sweet, we are getting medium and heavier grades of crude, which typically were used in asphalt and tires. Now, refineries have to spend more money to crack these grades of oil.

2. Supply doesn't need to be in danger. Demand needs only to outpace supply and we would have price run-ups. This is practically moot, because demand for light sweet is at an all time high while supply of light sweet has plateaued or declined. The market is oversupplied in total barrels, but upon breakdown, we are oversupplied in crude no body truly wants and undersupplied in crude everyone wants.