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Oil above $102 on Ukraine crisis, US supply drop
AP via Yahoo! ^ | PABLO GORONDI

Posted on 05/14/2014 6:34:33 AM PDT by wetphoenix

Edited 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 ...


TOPICS: Business/Economy; Foreign Affairs; Government; Politics/Elections
KEYWORDS: energy; oil

1 posted on 05/14/2014 6:34:33 AM PDT by wetphoenix
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To: wetphoenix

AHAHA, proof we need more solar panels, windmills and electric cars??

And public transportation? And higher energy taxes?

GO GREEN?


2 posted on 05/14/2014 6:36:43 AM PDT by sickoflibs (Obama : 'I never said that you can keep your doctor . Republicans lie about me ')
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To: sickoflibs
GO GREEN?

Red Green?

Just saw a thing that said that Joe Biden’s son is head of Ukraine gas.

3 posted on 05/14/2014 6:43:14 AM PDT by mountainlion (Live well for those that did not make it back.)
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To: wetphoenix

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 ....


4 posted on 05/14/2014 6:43:17 AM PDT by no-to-illegals (Scrutinize our government and Secure the Blessing of Freedom and Justice)
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To: sickoflibs
White House says no issue with Biden's son, Ukraine gas company
5 posted on 05/14/2014 6:43:21 AM PDT by cripplecreek (Remember the River Raisin.)
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To: wetphoenix

Fill it up.
Run it over...


6 posted on 05/14/2014 6:48:05 AM PDT by Eric in the Ozarks (Rip it out by the roots.)
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To: cripplecreek

It was probably the reason why Nuland was there to start a mess. Isn’t it?


7 posted on 05/14/2014 6:48:07 AM PDT by wetphoenix
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To: wetphoenix

bunch of profit mongering manipulating, economy busting thieves.


8 posted on 05/14/2014 6:49:32 AM PDT by fabian (" And a new day will dawn for those who stand long, and the forests will echo in laughter")
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"One man with courage makes a majority."

~ Andrew Jackson



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9 posted on 05/14/2014 6:49:36 AM PDT by trisham (Zen is not easy. It takes effort to attain nothingness. And then what do you have? Bupkis.)
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To: cripplecreek

http://www.wnd.com/2014/03/soros-heavily-invested-in-ukraine-crisis/


10 posted on 05/14/2014 6:50:10 AM PDT by Sacajaweau
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To: wetphoenix

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?


11 posted on 05/14/2014 6:52:08 AM PDT by alloysteel (Selective and willful ignorance spells doom, to both victim and perpetrator - mostly the perp.)
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To: wetphoenix

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.


12 posted on 05/14/2014 6:57:50 AM PDT by RegulatorCountry
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To: wetphoenix

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
http://www.arabianbusiness.com/saudi-willing-supply-more-oil-if-ukraine-crisis-causes-shortage-549815.html

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.


13 posted on 05/14/2014 7:19:58 AM PDT by tcrlaf (Q)
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To: tcrlaf

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??


14 posted on 05/14/2014 8:44:51 AM PDT by elpadre (AfganistaMr Obama said the goal was to "disrupt, dismantle and defeat al-hereQaeda" and its allies.)
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To: no-to-illegals

And when Natural Gas cost $100 million per 1000 cu ft, it might make sense to go it.

Before then, not so much...


15 posted on 05/14/2014 9:49:47 AM PDT by thackney (life is fragile, handle with prayer)
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To: elpadre

Produce more of our own. Open up the federal area, land and sea.


16 posted on 05/14/2014 9:51:30 AM PDT by thackney (life is fragile, handle with prayer)
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To: thackney
Don't know of a way yet to hold down cost but I think is folly to wait till Natural Gas cost $100 million per 1000 cu ft. There is always a better way to harvest if Earth becomes serious of harvesting our solar system. Being from the old school of if you want possible, here it is. If you want impossible, will need twenty-four hours.
17 posted on 05/14/2014 9:54:37 AM PDT by no-to-illegals (Scrutinize our government and Secure the Blessing of Freedom and Justice)
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To: no-to-illegals

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.


18 posted on 05/14/2014 10:02:30 AM PDT by thackney (life is fragile, handle with prayer)
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To: thackney

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.


19 posted on 05/14/2014 10:10:12 AM PDT by no-to-illegals (Scrutinize our government and Secure the Blessing of Freedom and Justice)
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To: thackney

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.


20 posted on 05/14/2014 11:29:27 AM PDT by elpadre (AfganistaMr Obama said the goal was to "disrupt, dismantle and defeat al-hereQaeda" and its allies.)
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To: elpadre

If you think oil companies just set the price of oil, and there is not competitiveness in the market, why would the oil price ever drop?

How did prices fall to around $10 in the late 1990s?


21 posted on 05/14/2014 11:39:04 AM PDT by thackney (life is fragile, handle with prayer)
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To: thackney

all I know about oil is what I read on FR and what I pay at the pump


22 posted on 05/14/2014 2:27:45 PM PDT by elpadre (AfganistaMr Obama said the goal was to "disrupt, dismantle and defeat al-hereQaeda" and its allies.)
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To: thackney

all I know about oil is what I read on FR and what I pay at the pump


23 posted on 05/14/2014 2:27:57 PM PDT by elpadre (AfganistaMr Obama said the goal was to "disrupt, dismantle and defeat al-hereQaeda" and its allies.)
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To: thackney; All
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24 posted on 05/14/2014 2:36:37 PM PDT by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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To: cripplecreek

He got his job and his education the old fashioned way - cronyism. Cronyism is the way of the old world and it’s come to America in a very big way.


25 posted on 05/14/2014 7:25:47 PM PDT by 1010RD (First, Do No Harm)
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