Skip to comments.Oil above $102 on Ukraine crisis, US supply drop
Posted on 05/14/2014 6:34:33 AM PDT by wetphoenixEdited on 05/14/2014 6:35:14 AM PDT by Admin Moderator. [history]
The price of U.S. oil climbed above $102 a barrel Wednesday amid ongoing tensions in Ukraine and an industry report showing crude stocks falling at a key U.S. storage hub.
By early afternoon in Europe, benchmark U.S. crude for June delivery was up 38 cents to $102.08 a barrel on the New York Mercantile Exchange. On Tuesday, the Nymex contract jumped $1.11 to settle at $101.70, its highest close since April 24. Brent crude, an international benchmark, was up 54 cents to $109.78 a barrel on the ICE Futures exchange in London.
(Excerpt) Read more at finance.yahoo.com ...
AHAHA, proof we need more solar panels, windmills and electric cars??
And public transportation? And higher energy taxes?
Just saw a thing that said that Joe Biden’s son is head of Ukraine gas.
Meanwhile a moon in this solar system with oceans of methane sits idle and no plan yet known on harvesting. Enough energy on that one moon for tens of thousands of years of pure energy to feed the engines of Earth. Kind of like God said ... Here it is Earth. Want true energy independence? Harvest ....
Fill it up.
Run it over...
It was probably the reason why Nuland was there to start a mess. Isn’t it?
bunch of profit mongering manipulating, economy busting thieves.
"One man with courage makes a majority."
~ Andrew Jackson
Spite is a winning issue everywhere.
A precipitating factor that preceded the Great Depression I was the series of retaliatory tariffs raised on international trade with the Smoot-Hawley Tariff Act. When FDR came to office in 1933, the bill was not repealed, but only the rates were tinkered with, usually only in bilateral agreements with each country with whom the US had trade pacts. Keeping this tariff agreement in force probably lengthened and exacerbated the Great Depression, until it was pretty much made dead letter by World War II.
Is this how we are going to end this distance-and-direction urinating contest?
Well, if there’s one thing that will guarantee “drill baby, drill” bringing new supply online and a continuation of the fracking boom, it’s high oil prices.
Just leave the secondary natural gas bonanza alone.
I guess that threat by the Saudi’s to open the oil taps over Ukraine is having little effect.
Saudi willing to supply more Oil if Ukraine crisis causes a shortage
LOTS of Geo-political maneuvering going on in the run-up to next week’s historic Russia-China Oil/Gas contract signing.
IMO, that is also why Putin hasn’t made any moves to secure the Southeast, yet.
Somehow we need to reduce our dependency on world oil markets. Maybe a dotted line relationship as opposed to a solid line which exists today. The US is held hostage by every world source of oil and it should not be that way. American consumers need to be higher on the priority list. But how do you correct what we see??
And when Natural Gas cost $100 million per 1000 cu ft, it might make sense to go it.
Before then, not so much...
Produce more of our own. Open up the federal area, land and sea.
I think there are far better choices here on earth and far less costly.
Methane Hydrates for one example. Coal Gasification for another.
Let us run through the choices with several less digits first.
Possibly we have ample energy here on Earth for a few thousand years yet, though the people of Earth will never be told this probable fact; but is something impossible today that is not impossible tomorrow is the question I always ask myself when I look up according to which position am located on within the sphere of this planet at whichever end is up.
from what I have read here on FR, it doesn’t matter how much we pump from US sources, the oil companies plan to keep the prices high claiming the high cost of pumping here.
The Arab oil barons kept us hostage before, now it’s our own oil producers. They are playing into Obama’s hand and he is grinning from ear to ear. He stated he would have gasoline at $5:00 a gallon before his term was up.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.