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  1. #676

    Default Re: Rising Gas Prices Seriously Threaten Obama

    Quote Originally Posted by ou48A View Post
    The Seaway reversal on track for a May 17 start.

    Among other things, the market is also reflecting the anticipation of a better supplied crude market.
    More pipelines would help the nation balance out its imbalanced crude oil markets and reduce number and impact of economic damaging price spikes.
    To add more to this^ post

    More pipeline news....http://www.marketwatch.com/story/enb...sal-2012-05-09

    The Capline, operated by Royal Dutch Shell Plc, once carried as much as 1.2 million barrels of oil per day to Midwest refineries. But shipments have dwindled to under 200,000 bpd as Canadian and Bakken crudes supplant the more expensive imported and Gulf of Mexico supplies that the line ships.

    The low volume has raised speculation that the line could be better used to carry Canadian and North Dakotan crude to Louisiana refineries. Daniel said Enbridge has often looked for ways to send Canadian crude to the eastern Gulf coast and its existing pipelines could feed crude to the reversed line.

    .....This would further help the Bakken producers and lower prices...

  2. #677
    Prunepicker Guest

    Default Re: Rising Gas Prices Seriously Threaten Obama

    Quote Originally Posted by ou48A View Post
    Increased oil supply’s helped bring prices down... who would have
    thought?
    What? Really? Wowee! I'm as surprised as you are.

    Does Obama believe he's had anything to with it? Is he trying to
    take credit for it? Imagine what the price would be if he'd allow
    the federal lands, he stopped production on, to begin again.

    Some people honestly believe a surplus of oil is supposed
    to be a glut, therefore, a bad thing. Go figger.

  3. #678

    Default Re: Rising Gas Prices Seriously Threaten Obama

    Once again Obama is instigating the European financial crisis to cause the price of oil to fall to help his election chances.

    http://news.yahoo.com/oil-falls-5-mo...--finance.html

  4. #679

    Default Re: Rising Gas Prices Seriously Threaten Obama

    North Dakota is now the #2 crude oil producer.

    “Texas' oil production has increased more than 8.2 million barrels from February 2011 to February 2012, records show.” This is very significant and more good news that helps brings prosperity to our nation


    Part of this is due to the poor Obama economy but its still worth noting that as domestic and world crude oil production rates have trended upward, that for now, world crude prices have been trending downward.

    Yet, there is so much more that could be done to improve our energy security.


    http://news.yahoo.com/nd-becomes-nat...--finance.html

  5. #680

    Default Re: Rising Gas Prices Seriously Threaten Obama

    Quote Originally Posted by Lord Helmet View Post
    If he wanted us to collapse then why didn't he just let the financial meltdown happen rather than bailing out the banks etc?
    Because Bush had already started the bailout.

  6. #681
    Prunepicker Guest

    Default Re: Rising Gas Prices Seriously Threaten Obama

    Quote Originally Posted by Sheetkeecker View Post
    Because Bush had already started the bailout.
    Not so. Obama is a collectivist who believes the government has all
    the answers to our problems. Funny how the government creates
    more problems than it solves. Come to think of it. I can't remember
    the last time the government ever solved a problem.

    At any rate, W's bail out was stupid. Very, very stupid. Obama loved
    it and took advantage of doing what hasn't worked, doesn't work nor
    will it ever work. Collectivists like things that don't work. That's why
    they support those failed policies.

  7. #682

    Default Re: Rising Gas Prices Seriously Threaten Obama

    http://newsok.com/lower-oil-prices-e...rticle/3676053

    OK, now everyone start with their posts about how Obama has nothing to do with this or it's in spite of him but if prices go up any it's all his fault. Oil prices are going to have zero effect on this election.

  8. #683

    Default Re: Rising Gas Prices Seriously Threaten Obama

    Quote Originally Posted by ljbab728 View Post
    http://newsok.com/lower-oil-prices-e...rticle/3676053

    OK, now everyone start with their posts about how Obama has nothing to do with this or it's in spite of him but if prices go up any it's all his fault. Oil prices are going to have zero effect on this election.
    Leaders we dislike are only competent when doing evil. When things go right, there's no way they had a hand in it.

  9. #684

    Default Re: Rising Gas Prices Seriously Threaten Obama

    Quote Originally Posted by White Peacock View Post
    Leaders we dislike are only competent when doing evil. When things go right, there's no way they had a hand in it.
    Kind of like energy companies. They only matter when they are doing something wrong.

  10. #685

    Default Re: Rising Gas Prices Seriously Threaten Obama

    Quote Originally Posted by Eric View Post
    Kind of like energy companies. They only matter when they are making the planet unfit for human habitation.
    fixt

  11. #686

    Default Re: Rising Gas Prices Seriously Threaten Obama

    Obama is still obviously manipulating the economies in Europe and China to benefit his elections changes.

    http://newsok.com/oil-falls-below-90...rticle/3678027

  12. #687

    Default Re: Rising Gas Prices Seriously Threaten Obama

    Well it's pretty clear robot wont be yammering about gas prices...Now he can't take on the standard Republican battle cries of gas, oil, foreign policy and homeland security

    Down to only jobs and his techniques at Bain and terrible record as Governor don't help much

  13. #688

    Default Re: Rising Gas Prices Seriously Threaten Obama

    yeah... it's been pretty quiet on the right about gas prices.

  14. #689

    Default Re: Rising Gas Prices Seriously Threaten Obama

    Here is the truth about George W Bush and his Republicans more than doubling our debt from 2000-2008.

    http://www.whitehouse.gov/infographics/us-national-debt

  15. #690

    Default Re: Rising Gas Prices Seriously Threaten Obama

    Quote Originally Posted by Easy180 View Post
    Well it's pretty clear robot wont be yammering about gas prices...Now he can't take on the standard Republican battle cries of gas, oil, foreign policy and homeland security

    Down to only jobs and his techniques at Bain and terrible record as Governor don't help much
    As unusual you couldn’t be more wrong about energy.


    What’s very clear to all but the economic ignorant is that elementary law of supply and demand still matters and that drill baby drill here and around the world is still very much part of this working equation.
    We are helped by the fact that for now Saudi Arabia has said they want Brent crude at about $100. This means about $85 for WTI
    The drop in demand is in large part due to poor economic conditions that can only hurt Obama.
    The drop in prices probably won’t help improve the economy in time to help Obama.

    In this economic environment it’s not too hard to imagine gasoline prices under $3. But this could turn on a dime with the right news. Keep an eye on the closure of refinery’s this summer due to environmental regulations. This could increase gasoline prices significantly back east and seriously impact the elections?

    This is a cycle that will only be repeated time after time and only made worse each time by restrictions on increasing supplies. This hurts the nation’s economy in a number of ways but you can personally make big money by learning to play this cycle.

  16. #691

    Default Re: Rising Gas Prices Seriously Threaten Obama

    http://www.rigzone.com/news/article....=118107&hmpn=1
    Crude Ends at 2012 Low on Supply Rise, Demand Drop
    Wednesday, May 23, 2012

    Crude oil futures prices settled at a fresh seven-month low, breaking below $90 a barrel Wednesday, as the latest U.S. weekly oil data showed stockpiles remaining at 22-year highs amid sluggish demand.

    Cracking the $90 level may set the stage for prices to fall to $85 a barrel or lower, several traders said.

    "Can we touch $75? It's only another $15. That's not unreasonable in my opinion," said Kyle Cooper, managing partner at IAF Energy Advisors.

    U.S. benchmark crude oil futures on the New York Mercantile Exchange have fallen by 15.3%, or $16.26 a barrel, since May 1, as crude oil inventories continued to grow and demand for key petroleum products, such as gasoline, has been weak.

    The Energy Information Administration said Wednesday crude oil stocks rose 883,000 barrels last week to 382.5 million barrels, the most since Aug. 3, 1990. Stockpiles have gained by 10.5%, or 36.2 million barrels, over the past nine weeks. The surplus of crude stocks to the five-year average has ballooned to 8.4%, or 29.8 million barrels, from less than 6 million barrels since the buildup began in mid-March.

    Ahead of the peak driving season, demand for gasoline, the most widely used petroleum product in the world's biggest oil consumer, hit a 12-year low for the week, at 8.6 million barrels a day, the EIA data show.

    "The bears are in control and keep wanting to drive it lower and we haven't seen any factor to shake them out of it," said Gene McGillian, broker and analyst at Tradition Energy.

    Nymex light, sweet crude oil for July delivery settled lower by $1.95, or 2.1%, at $89.90 a barrel, the lowest price since Oct. 21, 2011.

    ICE North Sea Brent crude for July fell 2.6%, or $2.83 a barrel, to $105.56, the lowest level since Dec. 19.

    The skidding euro--which fell to its weakest level against the dollar since July 2010--also prompted selling in oil and across many markets. Worries that Greece, in an effort to patch up its troubled economy, may exit the euro zone lifted the dollar against the European common currency, giving traders further excuse to avoid dollar-denominated oil futures.

    Strength in the dollar and the worries about a potential contagion effect of economic instability through the euro-zone nations stung oil futures as the market already is witnessing steady shrinkage in the "war premium" that has grown over the past several months amid an impasse with Iran and the world's major powers over Tehran's nuclear program.

    United Nations nuclear officials said a tentative deal has been reached with Iran to open controversial sites for inspection as major international talks on the issue were about to get underway in Baghdad. The potential breakthrough comes as a July 1 European Union embargo on imports of Iranian crude looms and Saudi Arabia and others in the Organization of Petroleum Exporting Countries have boosted output sharply to cover potential lost oil supplies from Iran.

    Past threats from Iran to block the key Strait of Hormuz, the export route for critical Persian Gulf oil supplies, has inflated prices by $15 to $20 over the past several months, market participants said. OPEC's explicit efforts to pull prices down to around $100 by raising supply has contributed to an aggressive selloff.

    "With weak equities, slow demand and Iran playing nice, why do you want to own crude?" said IAF Energy's Cooper.

    Tony Rosado, a broker at GA Global Markets, noted that Saudi Arabia's aim of pushing the price of international crudes, like European benchmark Brent, down to around $100 a barrel "would make the case for $85" for the U.S. benchmark, given the recent spread.

    Last October, when Nymex crude last traded near $90, it was "on a trampoline," rising sharply from around $75 a barrel, said Matt Smith, analyst at Summit Energy. Traders said that sharp rise of $15 in 15 days seven months ago suggests potential for an erratic move downward.

    "The market is hunting for a bottom and it hasn't found it yet," said Tradition Energy's McGillian.

    Reformulated gasoline blendstock futures for June delivery were 6.47 cents lower at $2.8723 a gallon, the lowest since Feb. 2. June heating oil settled 4.93 cents lower at $2.8121 a gallon, the weakest since Dec. 19

  17. Default Re: Rising Gas Prices Seriously Threaten Obama

    Quote Originally Posted by OPINIONATED View Post
    Here is the truth about George W Bush and his Republicans more than doubling our debt from 2000-2008.

    http://www.whitehouse.gov/infographics/us-national-debt
    Are you saying deficit spending is bad, because the entire Democratic Party thinks otherwise.

  18. #693

    Default Re: Rising Gas Prices Seriously Threaten Obama

    Quote Originally Posted by Just the facts View Post
    Are you saying deficit spending is bad, because the entire Democratic Party thinks otherwise.
    Always with the oversimplification.

  19. #694

    Default Re: Rising Gas Prices Seriously Threaten Obama

    Quote Originally Posted by Just the facts View Post
    Are you saying deficit spending is bad, because the entire Democratic Party thinks otherwise.
    Generally, debt is not bad, it is usually the actual act of spending that is bad.

    Let's assume the fed ran on budget (I know, crazy, but let's go with it for this example). In order to spend more, they would actually need more money. Where does the money come from. Well, you and me. So in order to spend more they must take more, the assumption being they can spend it better than you. That is why it is the spending that is the problem more so than the debt.

    And yes, neither party seems to have a problem with either.

  20. #695

    Default Re: Rising Gas Prices Seriously Threaten Obama

    Westport and Caterpillar Announce Agreement to Develop Natural Gas Technology for Off-Road Equipment

    http://finance.yahoo.com/news/westpo...110000545.html

  21. #696

    Default Re: Rising Gas Prices Seriously Threaten Obama

    Good news

  22. #697

    Default Re: Rising Gas Prices Seriously Threaten Obama

    CAT has always been on the leading edge of technology in their field. This is a good thing, but no surprise to me.

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