Real Name: Buster Buster Date of Birth: June 23, 1909 Member Since: March 14, 2006 Last Signed In: August 04, 2008 Profile Views: 9526 Blog Views: 35305 Bush buys 111,000 barrels of crude last week, with taxpayer money at 110 dollars a barrel. The Bakersfield definition of Capitalism is: Bush Jr and the Fed reserve bank Nationalize the Housing market. North Dakota may be bigger oil player than Alaska Massive Oil Deposit Could Increase US reserves by 10x It's time to stop the thieves. TK was right Is hope of an unmeasurable degree. We are putting more strains on the all-volunteer force than it was ever designed to bear Jimmy!!!!!!! 143 Million Pounds of Beef Recalled. Thanks Sen. Florez September 06 October 06 November 06 December 06 January 07 February 07 March 07 April 07 May 07 June 07 July 07 August 07 September 07 October 07 November 07 December 07 January 08 February 08 March 08 April 08 May 08 June 08 July 08 August 08 September 08 "Ideas are more dangerous than guns. We don't let our people have guns. Why should we let them have ideas?" --Josef Stalin 
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It's time to stop the thieves. TK was right
Oil Falls From Record After U.S. Supplies Grow for a Sixth Week By Mark Shenk Feb. 21 (Bloomberg) -- Crude oil fell after an Energy Department report showed that U.S. inventories rose more than expected last week, the sixth-straight increase. Inventories climbed 4.2 million barrels to 305.3 million barrels, the highest since November, the report showed. A gain of 2.4 million barrels was forecast, according to the median of 12 responses in a Bloomberg News survey. Supplies of gasoline rose and stockpiles of distillate fuel, a category that includes heating oil and diesel, dropped, the report showed. ``Gasoline supplies are near the highest level ever, and crude oil supplies are still gaining,'' said Kyle Cooper, director of research at IAF Advisors in Houston. ``Even though distillate supplies fell, the drop was smaller than a year ago so the deficit is falling.'' Crude oil for April delivery fell 32 cents, or 0.3 percent, to $99.38 a barrel at 11:19 a.m. on the New York Mercantile Exchange. Prices are up 65 percent from a year ago. Futures rose to a record $101.32 a barrel yesterday on signs OPEC may cut output and that U.S. interest rates may fall. Brent crude for April settlement declined 39 cents, or 0.4 percent, to $98.03 a barrel on London's ICE Futures Europe exchange. Futures reached $99.22 a barrel yesterday, the highest since trading began in 1988. The department released its weekly report on inventories today at 10:30 a.m. in Washington, a day later than usual because of the Presidents Day holiday on Feb. 18. Crude-oil stockpiles have risen 22.4 million barrels, or 7.9 percent, in the past six weeks. Supplies last week were 1.9 percent above the five-year average for the period, the department said. Inventories were 1.2 percent above the five-year average a week earlier. Refinery Operations Refineries operated at 83.5 percent of capacity, down 1.6 percentage points from the prior week, the report showed. It was the lowest rate since March 2006. ``The low operating rates would be cause for concern if we had demand growth, but we don't,'' said Tim Evans, an energy analyst at Citigroup Global Markets Inc. in New York. ``Refineries are curtailing output for economic reasons. There's weak product demand and they are responding by reducing output.'' Total implied fuel demand averaged 20.7 million barrels a day in the past four weeks, down 1.1 percent from a year earlier, the department said. Demand for distillate fuel, a category that includes heating oil and diesel, averaged 4.3 million barrels over the period, down 1.9 percent last year. Gasoline demand averaged 9 million barrels a day over the period, up 0.5 percent from a year earlier. The department measures shipments from refineries, pipelines and terminals to calculate demand. ``Oil is going to back off here in the second quarter,'' billionaire hedge-fund manager said in an interview on CNBC. ``It'll be back above $100 in the second half.'' Pickens, the founder and chairman of Dallas-based BP Capital LLC, told CNBC that he was short on both crude oil and natural gas. He didn't provide additional information on his positions. A short is a bet that prices will decline. 11 comments from 3 users
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posted by
tkozy
on Feb 21, 2008 at 09:01 AM
Even though we are shipping California grade gasoline to Asia(China). Gasoline stocks are at record highs. Why then has the price of gasoline gone up over a dime in 3 days. Because they are thieves. Hedgefunds are scared of the falling stock market. They are putting their money in Commodities. They are going to save their loses by stealing from the working man and the small businessmen. Capitalism isn't about hedgefunds. It's about farmers small businessmen and the working man. And the cost of petro is going to kill us all economically. It's time to nationalize the petro market.
posted by
robbwillis
on Feb 21, 2008 at 09:12 AM
Futures rose to a record $101.32 a barrel yesterday on signs OPEC may cut output and that U.S. interest rates may fall. If you want to call speculators thieves, it's ok by me. If you can make them go away, please take on bribers, I mean lobbyists, next. posted by
tkozy
on Feb 21, 2008 at 11:03 AM
Robb, Someone said there were signs that OPEC will reduce supply. Are you honestly going to claim OPEC will reduce supply when speculators are boosting the price to over 100 dollars a barrel. There are wells in our area that produce 1200 dollars per day @ 1/2 barrel and hour. They are the only real reason it has taken this long for oil to get to 100/barrel. If the majors could get them shut in. They would. The Majors can't control the independents.
posted by
robbwillis
on Feb 21, 2008 at 02:09 PM
"Someone said" moves markets. posted by
tkozy
on Feb 21, 2008 at 02:34 PM
Rumors destroy economies! Remember the Hunt brothers and their silver run? posted by
tkozy
on Feb 21, 2008 at 02:52 PM
Fuel Stockpiles Gasoline inventories climbed 1 million barrels to 230.3 million, the highest since February 1994, the report showed. A 500,000 barrel gain was forecast. ``Gasoline supplies are near the highest level ever, and crude oil supplies are still gaining,'' posted by
tkozy
on Feb 21, 2008 at 02:53 PM
Refinery Operations Refineries operated at 83.5 percent of capacity, down 1.6 percentage points from the prior week, the report showed. It was the lowest rate since March 2006. ``The low operating rates would be cause for concern if we had demand growth, but we don't,'' said Tim Evans, an energy analyst at Citigroup Global Markets Inc. in New York. ``Refineries are curtailing output for economic reasons. There's weak product demand and they are responding by reducing output.'' posted by
tkozy
on Feb 22, 2008 at 06:43 AM
good morning posted by
ronmexico
on Feb 23, 2008 at 04:59 PM
``Refineries are curtailing output for economic reasons. There's weak product demand and they are responding by reducing output.''
Economics 101 posted by
tkozy
on Feb 23, 2008 at 05:42 PM
Mexico, No Mexico. It's buccaneering/ rape 101
You must have read a little history. You must know a little bit about capitalism. Purposely manipulating a vital war time product such as petro. Is buccaneering.
And in the past America has Nationalized industrial production during wartime.
If demand is going down. And supply is going up. Even in the face of purposeful reduction in production. The rules of Capitalism would call for a reduction in price.
As far as economy of production. Any refinery run below 100% capacity is losing money. 100% capacity is the most cost effective operation of the plant. This level has been determined by exhaustive research by plant engineers.
The price of petro is being manipulated by a few wealthy hedgefunds that are not one bit concerned about capitalism.
America is awash in crude and refined crude products. The American economy is being raped. posted by
ronmexico
on Feb 24, 2008 at 09:12 AM
As far as economy of production. Any refinery run below 100% capacity is losing money. 100% capacity is the most cost effective operation of the plant. This level has been determined by exhaustive research by plant engineers. Care to provide a citation for that assertion? Or do you now consider yourself a plant engineer? If america is awash in gasoline, why do you want refineries to make more?? Especially when it is a primary cause of global warming and pollution?
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