It's not gouging, it's fundemental supply and demand.
What most news outlets don't tell you is the type of crude being supplied to the market. The light, sweet stuff (ie inexpensive) is slowly drying up, being replaced by heavy and more importantly, sour crude. Heavy crude and especially sour crude are more difficult to refine. That is what is causing an increase in price.
About time but I'm sure it is all smoke and mirros by the rich boys and it will never happen.
2-9-2006Bush proposes drilling off Virginia and Florida coast despite Jeb Bush protests
WASHINGTON - Bush administration officials on Wednesday proposed lifting a ban on oil and natural gas drilling off Virginia's coast and in an area off Florida where drilling is opposed by Gov. Jeb Bush, the president's brother.
The Interior Department hopes drilling in areas where it is currently banned will boost U.S. oil and natural gas supplies at a time of high energy prices and reliance on foreign suppliers. The United States is the world's biggest energy consumer and demand is expected to keep growing, especially from new power plants fueled by gas.
Energy companies say they could help meet growing demand if they get access to many offshore areas where drilling is not allowed.
==========================================
Anyone beside the resident rich republicans in here believe the Energy Companies?
2-9-2006Bush proposes drilling off Virginia and Florida coast despite Jeb Bush protests
WASHINGTON - Bush administration officials on Wednesday proposed lifting a ban on oil and natural gas drilling off Virginia's coast and in an area off Florida where drilling is opposed by Gov. Jeb Bush, the president's brother.
The Interior Department hopes drilling in areas where it is currently banned will boost U.S. oil and natural gas supplies at a time of high energy prices and reliance on foreign suppliers. The United States is the world's biggest energy consumer and demand is expected to keep growing, especially from new power plants fueled by gas.
Energy companies say they could help meet growing demand if they get access to many offshore areas where drilling is not allowed.
==========================================
Anyone beside the resident rich republicans in here believe the Energy Companies?
Wrong.
I believe in all the drilling we could do and all the Refineries neccessary to not drive up an artificial high price of a neccessary product.
It is clearly obvious this is not possible with the existing corrupt Oil Industry.
This happening while Bush gives YAFS Yet Another Fear Speech
I am sure it is U.S./Saudi's working together attacking the fields.
2-24-2006 Oil jumps after Saudi refinery attack
NEW YORK - Oil prices extended gains Friday, hovering around $62 a barrel, after attackers tried to blow up a Saudi oil refinery.
All of the would-be attackers were killed, although it was not clear how many people were inside the two vehicles when they detonated.
====================================
Notice there is no mention of who is doing the attacking or why.
I am sure it is U.S./Saudi's working together attacking the fields.
2-24-2006 Oil jumps after Saudi refinery attack
NEW YORK - Oil prices extended gains Friday, hovering around $62 a barrel, after attackers tried to blow up a Saudi oil refinery.
All of the would-be attackers were killed, although it was not clear how many people were inside the two vehicles when they detonated.
====================================
Notice there is no mention of who is doing the attacking or why.
2-24-2006 Al Qaeda claims responsibility for Saudi attack
DUBAI - Saudi-born Osama bin Laden's al Qaeda group claimed responsibility for Friday's attack on a major Saudi oil facility at Abqaiq, the group said in an Internet statement
The statement added: "These plants help in stealing the Muslims' wealth of oil."
It said the operation was within the framework of efforts by al Qaeda to prevent the theft of Muslims' wealth by "crusaders and Jews" and to force "infidels" out of the peninsula.
==================================================
WTF, it could not be more clear of how wrong Bush & the Republican agenda is.
We are helping those that only want to not only kill us but themselves.
South American Oil Baron Chavez Vs Texas Oil Baron Bush and Republican Churches
2-28-2006 Venezuela expands controversial US fuel sales against Bush's wishes
BOSTON - Venezuela's controversial fuel subsidies for the U.S. poor expanded into Connecticut on Monday, two weeks after U.S. Republican lawmakers questioned whether the cheap oil masked a broader anti-American agenda.
The assistance, described as "humanitarian aid" by Venezuela's embassy in Washington, deepens an ongoing spat between leftist President Hugo Chavez and President George W. Bush, who calls Chavez a threat to democracy in Latin America.
Venezuela, where per capita income is about one tenth that of the United States, will provide 4.8 million gallons of heating oil at a 40 percent discount to Connecticut households that qualify for state home heat assistance, state officials said.
Connecticut is the seventh state to receive cheap oil from Venezuela, which also sent shipments to Massachusetts, Maine, Rhode Island, Delaware, Pennsylvania and Vermont. The Bronx in New York City also joined the program.
Citgo estimates that it will be distributing some 44.5 million gallons of discounted heating oil and giving another 258,000 gallons free to homeless shelters.
Blumenthal said about 15,000 low-income Connecticut citizens would benefit from the deal with Citgo, a refiner and gasoline retailer owned by Venezuelan state oil company PDVSA.
The exports are seen as an attempt by Chavez to embarrass the Bush administration, which the Venezuelan leader says neglects poor Americans.
Venezuela supplies about 15 percent of U.S. oil imports.
In a backlash against the fuel program, one Texas-based religious organization has promoted a boycott of Citgo to protest Chavez's confrontation with the U.S. government.
2-28-2006 Venezuela expands controversial US fuel sales against Bush's wishes
BOSTON - Venezuela's controversial fuel subsidies for the U.S. poor expanded into Connecticut on Monday, two weeks after U.S. Republican lawmakers questioned whether the cheap oil masked a broader anti-American agenda.
The assistance, described as "humanitarian aid" by Venezuela's embassy in Washington, deepens an ongoing spat between leftist President Hugo Chavez and President George W. Bush, who calls Chavez a threat to democracy in Latin America.
Venezuela, where per capita income is about one tenth that of the United States, will provide 4.8 million gallons of heating oil at a 40 percent discount to Connecticut households that qualify for state home heat assistance, state officials said.
Connecticut is the seventh state to receive cheap oil from Venezuela, which also sent shipments to Massachusetts, Maine, Rhode Island, Delaware, Pennsylvania and Vermont. The Bronx in New York City also joined the program.
Citgo estimates that it will be distributing some 44.5 million gallons of discounted heating oil and giving another 258,000 gallons free to homeless shelters.
Blumenthal said about 15,000 low-income Connecticut citizens would benefit from the deal with Citgo, a refiner and gasoline retailer owned by Venezuelan state oil company PDVSA.
The exports are seen as an attempt by Chavez to embarrass the Bush administration, which the Venezuelan leader says neglects poor Americans.
Venezuela supplies about 15 percent of U.S. oil imports.
In a backlash against the fuel program, one Texas-based religious organization has promoted a boycott of Citgo to protest Chavez's confrontation with the U.S. government.
Hope this "Texas-based religious organization" isn't tax exempt. They're obviously putting out a political agenda instead of embracing an act of charity.
And the Bush administration should be embarassed. The Bush Regime only acts in the interest of rich folks, which despite the propaganda, are not the same as the interests of poor folks.
3-1-2006OPEC President: $60 Current Oil Prices Fair
WASHINGTON - Despite a fear factor in the oil markets, there is an adequate global surplus of oil that nevertheless justifies current prices in excess of $60 a barrel, the president of OPEC said Wednesday.
In a wide-ranging AP interview, Daukoru attributed much of the tightness of the world oil markets to a lack of refineries ? not production decisions.
"We do believe there is enough spare capacity" among producers. He predicted a global supply surplus of as much as 2 million barrels a day in the second quarter at current production levels ? an indication that OPEC producers may be ready to curtail their production levels.
Referring to an expected 2 million barrel a day "overhang" of crude inventory, Daukoru said, "If that is not oversupply, I don't know what is oversupply."
==================================================
there is an adequate global surplus of oil
"If that is not oversupply, I don't know what is oversupply."
there is an adequate global surplus of oil
"If that is not oversupply, I don't know what is oversupply."
there is an adequate global surplus of oil
"If that is not oversupply, I don't know what is oversupply."
there is an adequate global surplus of oil
"If that is not oversupply, I don't know what is oversupply."
there is an adequate global surplus of oil
"If that is not oversupply, I don't know what is oversupply."
there is an adequate global surplus of oil
"If that is not oversupply, I don't know what is oversupply."
there is an adequate global surplus of oil
"If that is not oversupply, I don't know what is oversupply."
there is an adequate global surplus of oil
"If that is not oversupply, I don't know what is oversupply."
there is an adequate global surplus of oil
"If that is not oversupply, I don't know what is oversupply."
WASHINGTON - Despite a fear factor in the oil markets, there is an adequate global surplus of oil that nevertheless justifies current prices in excess of $60 a barrel, the president of OPEC said Wednesday.
In a wide-ranging AP interview, Daukoru attributed much of the tightness of the world oil markets to a lack of refineries ? not production decisions.
"We do believe there is enough spare capacity" among producers. He predicted a global supply surplus of as much as 2 million barrels a day in the second quarter at current production levels ? an indication that OPEC producers may be ready to curtail their production levels.
Referring to an expected 2 million barrel a day "overhang" of crude inventory, Daukoru said, "If that is not oversupply, I don't know what is oversupply."
==================================================
there is an adequate global surplus of oil
"If that is not oversupply, I don't know what is oversupply."
there is an adequate global surplus of oil
"If that is not oversupply, I don't know what is oversupply."
there is an adequate global surplus of oil
"If that is not oversupply, I don't know what is oversupply."
there is an adequate global surplus of oil
"If that is not oversupply, I don't know what is oversupply."
there is an adequate global surplus of oil
"If that is not oversupply, I don't know what is oversupply."
there is an adequate global surplus of oil
"If that is not oversupply, I don't know what is oversupply."
there is an adequate global surplus of oil
"If that is not oversupply, I don't know what is oversupply."
there is an adequate global surplus of oil
"If that is not oversupply, I don't know what is oversupply."
there is an adequate global surplus of oil
"If that is not oversupply, I don't know what is oversupply."
- Oct 30, 2000
- 42,589
- 5
- 0
Notice the states that the distibution is being handled.
Cold and blue.
It seems to be just an extension of JFK Jrs. program that he setup in Mass to assist with heating fuel. Wonder if Teddy had anything to do with this.
Cold and blue.
It seems to be just an extension of JFK Jrs. program that he setup in Mass to assist with heating fuel. Wonder if Teddy had anything to do with this.
The climb to $70
3-3-2006 Oil climbs despite U.S. bloated supply on threats
LONDON - Oil prices rose for the fourth day in a row on Friday as dealers focused on nagging geopolitical supply concerns and shrugged off bloated stocks in the United States.
Fears of more violent attacks against Nigeria's oil industry and international tension over Iran's nuclear plan helped push up prices to their highest level in nearly a month and discouraged traders from going short into the weekend.
3-3-2006 Oil climbs despite U.S. bloated supply on threats
LONDON - Oil prices rose for the fourth day in a row on Friday as dealers focused on nagging geopolitical supply concerns and shrugged off bloated stocks in the United States.
Fears of more violent attacks against Nigeria's oil industry and international tension over Iran's nuclear plan helped push up prices to their highest level in nearly a month and discouraged traders from going short into the weekend.
3-10-2006 
Alaska's North Slope sees its biggest oil spill
Alaska officials said on Friday that up to 267,000 gallons (6,357 barrels) of crude oil poured out of a pipeline at the Prudhoe Bay field, making it the largest oil spill ever recorded on the state's North Slope.
The Alaska Department of Environmental Conservation estimated that a minimum of 201,000 gallons (4,785 barrels) spilled at Prudhoe Bay, the largest U.S. oil field.
The spilled oil spread over 1.9 acres of snow-covered tundra and the environmental impact remains unknown, according to Leslie Pearson, on-scene coordinator for the Department of Environmental Conservation.
The spill was discovered on March 2 on the west side of Prudhoe Bay by a worker for field operator BP Exploration
The Prudhoe Bay spill forced BP to shut down operations at a gathering center, a facility that separates pumped oil from water and natural gas, and at the approximately 230 wells that feed into it.
The shutdown caused BP to lose about 100,000 barrels of daily production, although the company has been able to divert production of about 5,000 of those barrels through a different pipeline, BP spokesman Daren Beaudo said.
The Prudhoe Bay field normally produces about 470,000 barrels a day, a little more than half of all North Slope oil output. Other major owners of the field unit are ConocoPhillips and Exxon Mobil.
=============================
Cool , trashing of Alaska and another reason to raise prices at same time.
Double profit :thumbsup: :thumbsup:
Alaska's North Slope sees its biggest oil spill Alaska officials said on Friday that up to 267,000 gallons (6,357 barrels) of crude oil poured out of a pipeline at the Prudhoe Bay field, making it the largest oil spill ever recorded on the state's North Slope.
The Alaska Department of Environmental Conservation estimated that a minimum of 201,000 gallons (4,785 barrels) spilled at Prudhoe Bay, the largest U.S. oil field.
The spilled oil spread over 1.9 acres of snow-covered tundra and the environmental impact remains unknown, according to Leslie Pearson, on-scene coordinator for the Department of Environmental Conservation.
The spill was discovered on March 2 on the west side of Prudhoe Bay by a worker for field operator BP Exploration
The Prudhoe Bay spill forced BP to shut down operations at a gathering center, a facility that separates pumped oil from water and natural gas, and at the approximately 230 wells that feed into it.
The shutdown caused BP to lose about 100,000 barrels of daily production, although the company has been able to divert production of about 5,000 of those barrels through a different pipeline, BP spokesman Daren Beaudo said.
The Prudhoe Bay field normally produces about 470,000 barrels a day, a little more than half of all North Slope oil output. Other major owners of the field unit are ConocoPhillips and Exxon Mobil.
=============================
Cool , trashing of Alaska and another reason to raise prices at same time.
Double profit :thumbsup: :thumbsup:
Ready for $262/barrel oil?
Two of the world's most successful investors say oil will be in short supply in the coming months.
http://money.cnn.com/2006/01/27/news/international/pluggedin_fortune/index.htm
Two of the world's most successful investors say oil will be in short supply in the coming months.
http://money.cnn.com/2006/01/27/news/international/pluggedin_fortune/index.htm
No, there was possibility of $100/bbl last year.
$262 Cool :thumbsup: that should translate to $7.50 gal gas :laugh:
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