http://www.freerepublic.com/tag/oilprices/ en-us Wed, 2 Dec 2009 18:05:39 GMT Focus Forum 15 http://www.freerepublic.com/focus/f-chat/2398584/posts Interesting piece on Crude oil – it’s actually quite a complex substance: Some people arbitrarily speak about oil as if it is a single, indistinguishably homogenous substance without any unique differentiation, but this is actually not the case at all! In fact, there are many different kinds of oil. In its natural, unrefined state, crude oil ranges in density and consistency, from very thin, light weight and volatile fluidity to an extremely thick, semi-solid heavy weight oil. There is also a tremendous gradation in the color that the oil extracted from the ground exhibits, ranging all the way from a... Oilprice.com http://www.freerepublic.com/focus/f-chat/2398584/posts#comment Wed, 2 Dec 2009 18:05:39 GMT http://www.freerepublic.com/focus/f-news/2396326/posts The Climate and Health Council, a collaboration of worldwide health organizations including the Royal College of Nursing, the Royal College of Physicians and the Royal Society of Medicine, believes there is a direct link between climate change and better health. Their controversial plan would see GPs and nurses give out advice to their patients on how to lower their carbon footprint. The Council believes that climate change “threatens to radically undermine the health of all peoples”. It believes health professionals are ideally placed to promote change because “we have ethical responsibility…..as well as the capacity to influence people and our... Telegraph.UK http://www.freerepublic.com/focus/f-news/2396326/posts#comment Sun, 29 Nov 2009 16:40:04 GMT http://www.freerepublic.com/focus/f-news/2373052/posts Domestic oil refiners kept up their attack of climate legislation, saying a Senate bill under consideration could increase gas prices. Domestic oil refiners kept up their attack Wednesday of climate legislation, saying a Senate bill under consideration could increase gas prices. The group, among the fiercest critics of the measure, said the proposal could add 77 cents a gallon, or around 30 percent above today’s prices. Democrats on a key Senate panel shot back, saying the industry’s estimate is based on an inflated projection of the price of permits companies will have to hold to cover their carbon emissions. A... The Hill http://www.freerepublic.com/focus/f-news/2373052/posts#comment Wed, 28 Oct 2009 18:34:22 GMT http://www.freerepublic.com/focus/f-news/2372671/posts U.S. consumers turned decidedly more pessimistic in October, according to a report released Tuesday, with households increasingly worried about job prospects. The Conference Board, a private research group, said its monthly Consumer Confidence Index fell to 47.7 this month, from a revised 53.4 in September, which was originally reported as 53.1. The current month's reading was well below economists' projections of 53.2, according to a survey conducted by Dow Jones Newswires. The downturn in consumer confidence at this stage of the recovery is to be expected, as it has occurred in previous recoveries (please see chart below), and does not... Seeking Alpha http://www.freerepublic.com/focus/f-news/2372671/posts#comment Wed, 28 Oct 2009 10:16:55 GMT http://www.freerepublic.com/focus/f-news/2365981/posts Crude-oil futures rose Monday for an eighth straight session, ending at a new one-year high near $80 a barrel as a weaker dollar and rising U.S. stocks stirred more bullish sentiment among energy traders. Crude for November delivery gained $1.08, or 1.4%, to $79.61 a barrel on the New York Mercantile Exchange, MarketWatch http://www.freerepublic.com/focus/f-news/2365981/posts#comment Mon, 19 Oct 2009 19:59:59 GMT http://www.freerepublic.com/focus/f-news/2365919/posts Since taking office as the President of the United States, President Obama has encountered crisis after crisis. His next major crisis will be oil prices. Read full article... http://newsflavor.com/politics/international-relations/next-major-obama-crisis/ State_of_America http://www.freerepublic.com/focus/f-news/2365919/posts#comment Mon, 19 Oct 2009 18:37:02 GMT http://www.freerepublic.com/focus/f-news/2335739/posts BASHING “speculators” is a popular pastime for American politicians trying to explain high and volatile oil prices. But whether speculation has really been responsible for spiking prices is a controversial issue. In 2008 the Commodity Futures Trading Commission (CFTC) issued a report dismissing the role of speculators in last year’s startling run-up in prices. But banks, hedge funds and others who bet on oil (without a use for the stuff itself) still face limits on the positions they can take, if Gary Gensler, the new CFTC head, can show that their influence in markets does harm. On September 4th the... The Economist http://www.freerepublic.com/focus/f-news/2335739/posts#comment Wed, 9 Sep 2009 20:44:20 GMT http://www.freerepublic.com/focus/f-news/2172374/posts Stimulus: Brazil, a leader in the use of biofuels such as ethanol and in the face of falling oil prices, still plans to spend huge sums to expand its offshore oil resources. Drilling rigs are infrastructure too.With oil prices scraping the bottom of the barrel, pun intended, there wouldn't appear to be much incentive to pursue the development of new oil resources. And in tough economic times worldwide, the necessary investment required would appear to be prohibitive. As the U.S. seeks to get its economy going by building roads, bridges and bicycle paths, Brazil has decided to create jobs and... IBD Editorials http://www.freerepublic.com/focus/f-news/2172374/posts#comment Tue, 27 Jan 2009 02:22:09 GMT http://www.freerepublic.com/focus/f-news/2247246/posts As Palin pointed out to Salazar, the USGS assessment "estimates that Arctic Alaska has mean technically recoverable resources of approximately 30 billion barrels of oil, 6 billion barrels of natural gas liquids and 221 trillion cubic feet of conventional natural gas." IBD Editorials http://www.freerepublic.com/focus/f-news/2247246/posts#comment Fri, 8 May 2009 22:55:43 GMT http://www.freerepublic.com/focus/f-news/2277694/posts A drop from an eight-month intraday high of $73.23 earlier this month accelerated after the World Bank said it expected the global economy to shrink by 2.9 percent this year, much worse than its March prediction for a contraction of 1.7 percent. The bank also lowered its 2010 growth forecast to 1.7 percent from 2 percent. AP/Yahoo News http://www.freerepublic.com/focus/f-news/2277694/posts#comment Tue, 23 Jun 2009 18:17:35 GMT http://www.freerepublic.com/focus/f-bloggers/2268409/posts There is anywhere from 18-95 BILLION Barrels of oil underneath our continental shelf. There is almost 7 TRILLION Barrels of Oil in the shale under the Rocky Mountains (to be fair, with present technology we can only get to around 800 billion barrels of it. Today America Consumes about 20 Million Barrels/day approximately 7.5 million of which we get domestically. My math tells me, using the minimum numbers (18+800 Billion- to 95 to 7,000) divided by 20 million, divided by 365 days, the US has an import free Oil reserve of 112 -972 YEARS. Drilling would be a true stimulus... The Hill/ The lid http://www.freerepublic.com/focus/f-bloggers/2268409/posts#comment Wed, 10 Jun 2009 00:57:24 GMT http://www.freerepublic.com/focus/f-news/2266249/posts NEW YORK (AP) -- Oil prices broke through the $70 per-barrel barrier Friday and more forecasters are broadening expectations for an upward swing in crude. Benchmark crude for July delivery lost 37 cents to settle at $68.44 on the New York Mercantile Exchange, finishing the week with a gain of nearly $2 a barrel. Earlier in the day oil jumped as high as $70.32 per barrel, the highest since October. Oil prices have been soaring for months despite a massive surplus of petroleum and natural gas. A large amount of speculative money has flowed into the markets, according to government... AP http://www.freerepublic.com/focus/f-news/2266249/posts#comment Sat, 6 Jun 2009 17:12:41 GMT http://www.freerepublic.com/focus/f-chat/2255336/posts Gasoline bottomed out at $1.75. Now it's $2.50. That's a 43% increase in a few months. Where's the howls of outrage from the MSMwhores? Where's the daily update on the previous days increase and the nationwide average? Where are the sob stories about people having to do without (fill in the blank) due to paying so much more for gas? http://www.freerepublic.com/focus/f-chat/2255336/posts#comment Thu, 21 May 2009 10:24:23 GMT http://www.freerepublic.com/focus/f-news/2251021/posts Crude oil has bounced since February to almost $60 a barrel despite worsening fundamental data. Commercial inventories are overflowing, having risen in the first quarter, a period when they usually drop. Moreover, as oil prices have risen, OPEC's discipline has started cracking, with the cartel increasing output last month for the first time since August. WSJ online http://www.freerepublic.com/focus/f-news/2251021/posts#comment Thu, 14 May 2009 19:57:18 GMT http://www.freerepublic.com/focus/f-news/2231594/posts WASHINGTON (AP) - A federal appeals court ruled Friday that the Bush administration did not properly study the environmental impact of expanding oil and gas drilling off the Alaska coast and canceled a program to find new reserves. A three-judge panel in Washington found that the Bush-era Interior Department failed to consider the effect on the environment and marine life before it began the process in August 2005 to expand an oil and gas leasing program in the Beaufort, Bering, and Chukchi seas. The appeals court ordered the department, now run by President Barack Obama's appointee Ken Salazar, to analyze... Associated Press http://www.freerepublic.com/focus/f-news/2231594/posts#comment Fri, 17 Apr 2009 17:15:53 GMT http://www.freerepublic.com/focus/f-news/2184502/posts Nick Snow OGJ Washington Editor WASHINGTON, DC, Feb. 11 -- Global petroleum demand will fall by another 400,000 b/d during 2009 as economic conditions worsen, the US Energy Information Administration said on Feb. 10 in its latest short-term energy outlook. EIA now projects that worldwide oil consumption will drop by 1.2 million b/d this year as a deteriorating world economy and a weak oil consumption outlook keep the market well supplied despite two downward revisions in the last 2 months by the Organization of Petroleum Exporting Countries. Reduced demand and rising surplus production capacity through at least mid-2009 reduce the... Oil and Gas Journal http://www.freerepublic.com/focus/f-news/2184502/posts#comment Fri, 13 Feb 2009 00:55:49 GMT http://www.freerepublic.com/focus/f-news/2184130/posts COLUMBUS, Ohio – Oil prices slid closer to a new multiyear low Thursday because of growing doubts that the $789 billion stimulus package will reinvigorate the economy and demand for energy. Retail gas prices, meanwhile, reached a new high for 2009 on Thursday and appeared headed back to $2 a gallon as refiners cut back on production. Light, sweet crude for March delivery fell $1.04 to $34.90 a barrel on the New York Mercantile Exchange. The contract fell $1.61 overnight to settle at $35.94 after a government report on Wednesday showed that crude inventories jumped much more than expected. There... Yahoo / AP http://www.freerepublic.com/focus/f-news/2184130/posts#comment Thu, 12 Feb 2009 16:59:45 GMT http://www.freerepublic.com/focus/f-bloggers/2179466/posts Here is another example of what President Obama means by change.The new administration has wasted no time in canceling a decision by the Bush White House that let gas and oil companies explore for new resources. Remember when President Bush announced that he was lifting the ban on domestic drilling? That was way before the economy started tanking but it set oil prices on their downward trend. Now President Obama wants to send oil prices back through the roof to make sure that Al Gore and his global warming nuts gets their way with the American Economy. Higher Oil Prices,... IBD/Yidwithlid http://www.freerepublic.com/focus/f-bloggers/2179466/posts#comment Fri, 6 Feb 2009 04:12:22 GMT http://www.freerepublic.com/focus/f-news/2169620/posts WASHINGTON, Jan 21 (Reuters) - U.S. President Barack Obama may order a hold on a proposal issued in the final days of the Bush administration to expand offshore drilling in previously banned areas, an Interior Department official told Reuters on Wednesday. Shortly after being sworn in on Tuesday, Obama ordered all federal agencies and departments to halt pending regulations until they can be reviewed by incoming staff. An Interior official said the department is waiting for clarification from the White House on whether a proposed draft of a five-year plan to lease areas in the Atlantic and Pacific waters for... reuters http://www.freerepublic.com/focus/f-news/2169620/posts#comment Thu, 22 Jan 2009 18:12:18 GMT http://www.freerepublic.com/focus/f-bloggers/2154682/posts Lost in the discussion of how we solve the financial crisis and the ongoing recession is the effect that Oil prices have had in its creation. It is true that sub prime mortgages were an issue way before gas prices hit $4.50/gallon, but things didn't start falling apart until gas prices cleared the $4.00 mark. Now that prices are are falling its almost as if the economy is receiving a ONE BILLION dollar a day stimulus plan. That is the difference between what America was paying per day for gas when it was $4.50 and what we are paying today: Newsbusters/Yidwithlid http://www.freerepublic.com/focus/f-bloggers/2154682/posts#comment Sat, 27 Dec 2008 01:54:22 GMT http://www.freerepublic.com/focus/f-bloggers/2151189/posts It’s official! OPEC will cut oil production by 2.2m Bbl/day in real terms. So far, this hasn’t re-inflated the price of oil. In fact, the current price on a Bbl of Light Sweet Crude has reached $40.06. Thus, despite a reduction in global production from the cartel controlling 40% of the world’s proven reserves, the price of oil fell 8%. This would remind Sherlock Holmes of the dog that wouldn’t bark. This drop in oil prices particularly baffles in the face of a collapse of value in the US dollar. Economist John Kemp offers his prognosis on the current health... THE MINORITY REPORT http://www.freerepublic.com/focus/f-bloggers/2151189/posts#comment Fri, 19 Dec 2008 01:27:59 GMT http://www.freerepublic.com/focus/f-news/2117054/posts Not everyone likes seeing oil prices plunge. This decade's historic high prices for oil and natural gas have stoked the rise of renewable power and alternative fuels. As fossil fuel prices smashed record after record, options like ethanol, hybrid electric cars, solar power and wind looked better and better. Now oil costs less than half what it did this summer. Ditto natural gas. If prices keep dropping and stay down, future fuels like cellulosic ethanol and biodiesel will have a harder time competing. So will solar and wind power projects, which compete against power plants that burn natural gas. Public... SFGate.com http://www.freerepublic.com/focus/f-news/2117054/posts#comment Tue, 28 Oct 2008 01:44:33 GMT http://www.freerepublic.com/focus/f-news/2113646/posts CARACAS, Venezuela — They line up early, before sunrise, beside a massive metal fence to wait for a government grocery store named for a 1960s Venezuelan revolutionary to open. "The government pays for the subsidies, and that's why we elected the president, and that's why we love him," said Medarda Romero , 66, setting down a black garbage bag full of food. "He cares about the poor. Previous presidents didn't." Venezuela's government gets 50 percent of its income from oil revenues, however, and now falling oil prices threaten to force Chavez to scale back the food subsidies and other government... McClatchy Newspapers http://www.freerepublic.com/focus/f-news/2113646/posts#comment Fri, 24 Oct 2008 00:41:04 GMT http://www.freerepublic.com/focus/f-chat/2107942/posts I apologize to all readers for a stupid and inappropriate posting. It got my privileges revoked for a week. It will not happen again. Now, my thought. I watched most of the debate on Wednesday, until it frankly got boring. McCain seems to understand the anger and frustration. Bob Scheiffer almost got it when he asked about cutting spending and reducing the deficit. Neither McCain nor Obama gave a convincing answer. What we need - before Election Day - is an "I'm p!$$ed off" Day. Everybody is p!$$ed off about something or another. Let's channel it into a no work,... The Middle East Times http://www.freerepublic.com/focus/f-chat/2107942/posts#comment Fri, 17 Oct 2008 13:18:30 GMT http://www.freerepublic.com/focus/f-news/2083460/posts LONDON (AFP) — World oil prices dipped briefly beneath 90 dollars a barrel Tuesday on growing economic gloom that was likely to further dampen demand for energy in the months ahead, traders said. * * * The price of crude oil has now plunged by almost 40 percent since striking record highs above 147 dollars per barrel in July. * * * Elsewhere on Tuesday, New York's main contract, light sweet crude for October delivery, dived 2.79 dollars to 92.92 dollars a barrel. Deepening worries about a slowdown in energy demand "are likely to haunt energy markets in the near... AFP http://www.freerepublic.com/focus/f-news/2083460/posts#comment Tue, 16 Sep 2008 14:04:49 GMT