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Post by thirsty on Nov 13, 2011 20:04:40 GMT -5
Looter and Thirsty...President Obama decided to release 30 million barrels of oil from the SPR back in June...did that ever get replenished? I don't know where to look. tia. No. www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WCSSTUS1&f=WI reckon where we are headed is annual, and then semi-monthly SPR draw downs until 90% of North America is back to horse and cart, the SPR is empty and the plutocracy's black card outbids the Walmart crowd for what oil is left.
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Post by thirsty on Nov 13, 2011 20:08:03 GMT -5
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Post by linsal on Nov 14, 2011 5:53:39 GMT -5
Could part of the "problem" with the lack of diesel fuel be that the refineries have switched part of their production over to making furnace/fuel oil? tia
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Post by looter on Nov 14, 2011 10:26:50 GMT -5
Could part of the "problem" with the lack of diesel fuel be that the refineries have switched part of their production over to making furnace/fuel oil? tia Here is the data on Refinery output. The chart below shows recent output vs last year's. We are moving past the change-over season as the graph shows. The "Distillate" inventory posted does include heating oil, jet fuel, kerosene, and diesel.
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Post by looter on Nov 14, 2011 14:19:26 GMT -5
Here is the chart for USA distillate demand; Never seen so much Distillate demand relative to weak gasoline demand..... Ethanol stocks are dried up also. Does the military use ethanol???
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Post by looter on Nov 14, 2011 14:21:56 GMT -5
The chart below is of weekly refinery inputs (output/utilization) going way back. It looks like refiners are running pretty hard this season... relatively speaking.
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Post by iowa55 on Nov 14, 2011 14:25:54 GMT -5
A little blurp on the news the last day or so ...stated that gasoline was expected to be $4+ by Valentines day.
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Post by looter on Nov 14, 2011 17:06:19 GMT -5
Diesel at the pump in Canada just jumped north of $5/gallon. Thanks to Thirsty for this pic; Thirsty, where was the pump price 2 weeks ago? (Not cool seeing snow flakes in this pic this bloody early....) Thnx
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Post by linsal on Nov 14, 2011 18:12:21 GMT -5
Increasing fuel prices? We can kiss anything that resembles an economic recovery goodbye....
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Post by looter on Nov 14, 2011 19:01:53 GMT -5
Increasing fuel prices? We can kiss anything that resembles an economic recovery goodbye.... This....
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Post by thirsty on Nov 14, 2011 20:30:39 GMT -5
Buck O' nine a couple weeks back. Diesel is now ten cents more expensive than Premium. It cost me $180 to fill up the dually about the same time I took that pic. We got a light dusting of snow today. It has been remarkably mild the last couple months. Not looking forward to the next three months....
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Post by glowplug on Nov 15, 2011 8:45:48 GMT -5
Ah yes, and I've said for years that we need to stretch out and expand our petro-diesel supplies with biodiesel.
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Post by iowa55 on Nov 16, 2011 12:03:32 GMT -5
Nov. 16, 2011, 10:49 a.m. EST
Chevron plugging offshore well in Brazil
Setback in offshore exploration effort after oil leak.
Chevron said well-control operations have been successful and that any fluid flow from the well appears to have ceased.
“This is the first sign of progress in efforts to contain an oil spill,” analysts at Credit Suisse said in a note to clients on Wednesday.
The Brazilian government had estimated a leak rate of 200 to 330 barrels a day, with up to 882 barrels reaching the surface so far, according to reports.
Frade ranks among the largest deepwater heavy oil projects in the world and “one of our company’s biggest capital investments,” Chevron said on its corporate Web site. Chevron began production at the Frade field in 2009, with daily output now at around 80,000 barrels a day.
Over the weekend, Chevron said it was managing a fleet of 17 vessels with a presence in the Campos Basin to help control the oil sheen with containment booms, skimming and washing.
Although the leak is relatively small, it served as a scaled-down reminder of risks of oceanic oil exploration in the wake of the 2010 oil spill by BP
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Post by iowa55 on Nov 16, 2011 12:26:38 GMT -5
All these new and existing pipelines are nothing more than a way to get our oil into international markets. Hows about what is going on with this latest little swindle of the US consumer? Farm fuel here in the heartland is running $3.64 as of yesterday afternoon and road fuel $3.97 to3.99 a gal.
Markets were caught off-guard by news Canada‘s Enbridge Inc. (ENB) (CA:ENB) said it agreed to buy a 50% stake in a pipeline that moves oil from the Gulf of Mexico to Cushing, Okla., the delivery point of the benchmark New York-traded oil.
More importantly, however, Enbridge also announced it was reversing the pipeline’s flow, immediately lighting up hopes the bottlenecks in Cushing would be eased. The Seaway pipeline would transport about 150,000 barrels of oil a day from Cushing to the Gulf, pending regulatory approval.
“Crude has exploded higher” on the Seaway pipeline reversal news, said in a note to clients Matt Smith, an analyst with Summit Energy.
“This will now aid in alleviating the supply glut, rather than previously exacerbating it,” he added.
Problems in Cushing have been at the heart of record premiums between New York-traded oil and Europe’s benchmark, Brent oil traded in London.
The surprise announcement means that Canadian oil sands production would be delivered to the Gulf Coast market, competing more directly with Brent barrels, said Tim Evans, an oil analyst with Citi Futures Perspective, in a note to clients.
Also on Wednesday, the Energy Information Administration reported a decline of 1.1 million barrels in crude-oil supplies for the week ended Nov. 11. Analysts polled by Platts had expected a decline around 1.5 million barrels.
The EIA also reported gasoline inventories up 1 million barrels, and supplies of distillates down 2.1 million barrels.
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dm479
FFA member
Posts: 78
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Post by dm479 on Nov 16, 2011 16:19:18 GMT -5
UPDATE 1-Brazil, Chevron investigate leak near Frade------------------------------------------------------------------------------------------------------------------------------------------------------------ this my just be the tip of the icberg------------------I was always told if theirs smoke theirs fire---------------dave--------------------------------------------------------------------------------------- * Brazil's ANP oil regulator investigating leak * ANP says leak one km from Chevron's Frade field * Company checking whether oil leaked from crack in seabed (Adds details, background, changes dateline from SAO PAULO) RIO DE JANEIRO, Nov 10 (Reuters) - Brazil's oil regulator ANP and Chevron's local subsidiary are investigating a reported oil leak located near Chevron's offshore Frade field. The ANP said on Thursday the oil on the ocean's surface was located about one kilometer from Chevron's Frade field which began production in 2009 and averaged 50,000 barrels per day of output in 2010. Chevron (CVX.N: Quote) spokesman Scott Walker said the company was aware of the oil sheen between its Frade field and one of Brazil's biggest producing fields, the Roncador, operated by the state-run oil company Petrobras (PETR4.SA: Quote). "Chevron is investigating the source of the oil sheen. All the appropriate actions to respond are being taken. As soon as we have further information we will notify," Walker told Reuters by email. There were no further details, Walker said. A press officer at the company said it was investigating the possibility that the oil leaked from a crack in the seabed. The Frade field lies about 230 miles (370 km) from the northeast coast of Rio de Janeiro state and its output feeds into a floating production, storage and offloading vessel (FPSO), according to details on Chevron's Web site. The company has been drilling to add five more development wells and three injection wells to the project on top of the existing eight development and four injection wells. The oil giant owns a 51.7 percent stake in Frade, Petrobras owns a 30 percent slice and the remainder belongs to the Frade Japao Petroleo consortium. The spill is in the Campos Basin that accounts for the bulk of Brazil's oil output off the coast of Rio de Janeiro state. Brazil's oil output is expected to leap from around 2 million barrels of crude per day at present, once vast offshore reserves lying at depths of around 7 kilometers beneath the seabed come on stream. The ANP tightened regulations for offshore oil production in the wake of the Gulf of Mexico oil spill in 2010 which dumped millions of barrels of crude into the ocean following an explosion on a BP (BP.L: Quote) platform. (Reporting by Brian Ellsworth, Reese Ewing and Sabrina Lorenzi and Peter Murphy; editing by Sofina Mirza-Reid)
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