Unofficialbmw.com

[Henry]

"Oil Jumps" The all time favorite oil bean can jump! I am amazed.


http://www.washingtonpost.com/wp-dyn/content/article/2008/03/05/AR2008030500500.html?hpid=moreheadlines




Oil Jumps on Surprise Supply Drop

Men work through a dust storm Tuesday, March 4, 2008, on a new oil well being drilled in the Sakhir, Bahrain, desert. OPEC has virtually ruled out pumping more oil to ease record-high prices, oil ministers said Tuesday on the eve of a key meeting, contending supplies are ample and there's no compelling reason to flood the market with more. (AP Photo/Hasan Jamali) (Hasan Jamali - AP)


By JOHN WILEN
The Associated Press
Wednesday, March 5, 2008; 12:09 PM


NEW YORK -- Oil prices surged to a new record over $104 a barrel Wednesday after the government reported a surprise drop in crude oil stockpiles and OPEC held production levels steady

Most analysts had expected the Energy Department's Energy Information Administration to report oil supplies rose last week for the eighth straight time. Instead, they fell by 3.1 million barrels.

[Henry]

http://www.washingtonpost.com/wp-dyn/content/article/2008/03/05/AR2008030500500.html


OPEC Says Members Won't Pump More Oil
As Crude Price Sets Record, Cartel's Intent Is Questioned



Men work through a dust storm Tuesday, March 4, 2008, on a new oil well being drilled in the Sakhir, Bahrain, desert. OPEC has virtually ruled out pumping more oil to ease record-high prices, oil ministers said Tuesday on the eve of a key meeting, contending supplies are ample and there's no compelling reason to flood the market with more. (AP Photo/Hasan Jamali) (Hasan Jamali - AP)


By Steven Mufson
Washington Post Staff Writer
Thursday, March 6, 2008; Page D01
The Organization of the Petroleum Exporting Countries yesterday decided to leave production unchanged despite the high cost of crude oil, contributing to a $5-a-barrel leap to a new record price and drawing a rebuke from a "disappointed" White House ...etcetera

[Henry]

Perhaps some of the apologists of times past who lambasted me with cognitive space junk as per this and many other issues could take this opportunity to MAKE UP YOUR OWN MAKE BELIEVE reasons for this highest ever per barrel price that now IS the adjusted for inflation high price. So go ahead and FABRICATE your own pile of make believe...


Quote... there has been no single headline disruption in oil markets -- no embargo, no new outbreak of war in an oil-rich nation ...Close Quote



http://www.washingtonpost.com/wp-dyn/content/article/2008/03/07/AR2008030700090.html?nav=hcmoduletmv


Dollar's Decline Pushes Oil Price Up

Washington Post
Friday, March 7, 2008; Page D01

"The relentless upward march in oil prices, which have more than doubled since their Jan. 16, 2007, low point last year, reached yet another new record yesterday, closing at $105.47 on the New York Mercantile Exchange.

The punishing rise in oil prices over the past 14 months has differed from earlier oil price shocks because there has been no single headline disruption in oil markets -- no embargo, no new outbreak of war in an oil-rich nation. Instead, the price of oil has climbed because of a mixture of political tension over Iran, the slide in the dollar's value, OPEC's reluctance to boost production to drive down prices, and the rising tide of investments in commodities as fund managers diversify portfolios, flee sagging stocks and bonds, and seek a hedge against inflation. "

etcetera etcetera etcetera

[Henry]

the grandcanyon is 6,ooo years old



http://www.washingtonpost.com/wp-dyn/content/article/2008/03/07/AR2008030701255.html?hpid=topnews


Quote:

Job Market Takes a Hit From Weak Economy
Federal Reserve Announces New Steps to Ease Credit Crisis



By Neil Irwin and Howard Schneider
Washington Post Staff Writers
Friday, March 7, 2008; 12:32 PM
Employers slashed jobs in February, the government reported today, as the nation's broader economic problems spread through the labor market. Meanwhile, the Federal Reserve took new action to try to thaw a new freeze-up in the world credit markets that threatens to make the economic slowdown even worse.

The jobs report, from the Labor Department, indicated that the nation had 63,000 fewer net jobs in February than in January, the second straight month of job losses and the worst monthly performance since 2003. The unemployment rate ticked down to 4.8 percent from 4.9 percent, although that appeared to be an indicator that people were dropping out of labor force, not that the labor market was improving...etcetera etcetera etc.

Close Quote

[Henry]

http://www.washingtonpost.com/wp-dyn/content/article/2008/03/11/AR2008031100884.html?hpid=topnews


Quotation Begins...


Fuel Prices Siphoning Money From U.S. Economy
Cheney Visit to Saudi Arabia May Include Plea on Oil Output


By Steven Mufson
Washington Post Staff Writer
Tuesday, March 11, 2008; 9:49 AM


Crude oil prices continued a record-breaking climb today that pushed it past $109 a barrel, while the price of regular unleaded gasoline at the pump came within half a cent of its all-time high.

A White House announcement that Vice President Cheney would probably ask Saudi Arabia to boost oil output during a trip to the Middle East next week did nothing to blunt a run-up in prices that yesterday added $3 to the cost of a barrel. etcetera, etcetera, etc.


Quotation Ends

[Henry]

In the interest of raising your spirits I post the following info for all you moguls out there:


http://www.bloomberg.com/energy/

[Henry]

110 one hundred ten 110 one hundred ten snowflakes




http://www.washingtonpost.com/wp-dyn/content/article/2008/03/13/AR2008031301755.html?hpid=topnews



Retail Sales, Oil Prices Send U.S. Markets Down


washingtonpost.com readers have posted 41 comments about this item.

By Howard Schneider
Washington Post Staff Writer
Thursday, March 13, 2008; 11:23 AM


U.S. retail sales fell sharply in February, confirming worries that hard-pressed households have begun to scale back amid tightening credit and a decline in home values, the Commerce Department reported this morning.

The report, combined with oil prices that breached $110 a barrel, sent U.S. markets plummeting, with the Dow Jones industrial average shedding nearly 200 points in the first 15 minutes of trading.

[Henry]

http://www.washingtonpost.com/wp-dyn/content/article/2008/04/01/AR2008040100157.html?hpid=topnews


Congress Has Big Questions for Big Oil

Christy Ridenour fuels her car while watching the television placed atop a gas pump at the BP Gas Station in Anderson, Ind., Wednesday, March 26, 2008. Ridenour noted she enjoys watching the area weather forecast and traffic reports. Ricker Oil Co. President Jay Ricker, operator of this station and 29 others throughout Indiana, is experimenting with the pump-top televisions advertising goodies inside the station's store. (AP Photo/Darron Cummings) (Darron Cummings - AP)



By H. JOSEF HEBERT
The Associated Press
Tuesday, April 1, 2008; 1:38 PM
WASHINGTON -- Top executives of the five biggest U.S. oil companies said Tuesday they know high fuel prices are hurting consumers, but deflected any blame and argued their profits $123 billion last year were in line with other industries. etc.

[Henry]

From that disgusting Wahsingtin Post. I can't believe they still print this outrageous, liberal garbage. This is nothing but lies. Liberal lies.



http://www.washingtonpost.com/wp-dyn/content/article/2008/04/15/AR2008041500418.html?hpid=moreheadlines



Crude oil at new high just above $114; gas also at a record

SLIDESHOW Previous Next

The price board at a Shell gas station is shown in San Francisco, Monday, April 14, 2008. Gas prices fluctuated over the weekend but appear poised to resume their seemingly relentless trek toward a record high milestone of an average $3.50 a gallon. (AP Photo/Jeff Chiu) (Jeff Chiu - AP)




By ADAM SCHRECK
The Associated Press
Tuesday, April 15, 2008; 5:28 PM
NEW YORK -- Energy traders rewrote the record books again Tuesday, pushing oil futures past $114 a barrel as gasoline and diesel prices struck new highs of their own at the pump. etcetera, etcetera and another etc.

[Henry]

From FOX BUSINESS. Yes, F_O_X. That Fox.

First the link: http://www.foxbusiness.com/article/new-oil-price-spike-115-barrel-shows-twofaced-white-house-takes-oil-markets_566169_1.html

And the complete story. Just in case they come to their senses and void this story it will be posted in entirety.

(cant read this kind of truth in the wahshigtin pest...no way...gotta to to the source, the Fix...I mean Fox)



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HOMEVIDEOMARKETS PERSONAL FINANCE OUR TEAM MY MONEY

Latest News
Wednesday, Apr. 16 2008
New Oil Price Spike to $115 a Barrel Shows 'Two-Faced' White House That Takes Oil Off U.S. Markets While Blaming OPEC

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SANTA MONICA, Calif., April 16, 2008 /PRNewswire-USNewswire via COMTEX/ -- Consumer Watchdog Renews Call for Bush to Stop Buying Oil for U.S. Reserve, Release Oil to Dampen Price

As oil prices topped $115 a barrel today on futures markets, President Bush continued his near-silence on the damage that energy inflation is doing to consumers and the economy, said Consumer Watchdog. The White House clings to a pallid strategy of blaming OPEC even as it continues buying oil off the market at a rate of 1.5 million barrels a month for a Strategic Petroleum Reserve that is already filled to near-record levels.

"In 2006, President Bush dramatically announced that he would stop taxpayer-paid purchases for the petroleum reserve in order to help bring down prices," said Judy Dugan, research director of Consumer Watchdog. "Now, in a much more urgent situation, he has not taken even this symbolic step to show seriousness in the face of serious economic damage from energy prices."

(See news report of the 2006 announcement at http://www.cnn.com/2006/POLITICS/04/25/bush.energy/ )

Consumer Watchdog (formerly the Foundation for Taxpayer and Consumer Rights) recently asked President Bush to cease purchases for the reserve, and also to begin releasing oil from the 700-million barrel store to show his administration's determination to quell volatility and speculation in oil on futures markets.

(See the letter at http://www.consumerwatchdog.org/resources/BushLtrPetrolReserve.pdf )

"It is two-faced of Bush to assert that OPEC's refusal to increase supplies is the sole cause of this slide to disaster even as the White House itself takes oil off the market," said Dugan. "The White House has failed even to push for regulation of energy trading that could wring out some of the purely financial trading that is helping to spike prices. It also continues to oppose legislation that would create jobs in green energy businesses by canceling just a portion of oil companies' multibillion-dollar tax subsidies."

Energy prices are the chief cause of inflation that is deepening the U.S. economic slide and giving consumers a double whammy in the pocketbook, at the gas pump and again at the grocery store, said Consumer Watchdog. Oil companies are reaping continued record profits while other businesses falter.

"Every day there is a new reason put forward for the daily oil price and fuel price record," said Dugan. "The sliding dollar, a new blip of violence in Iraq, the faltering U.S. economy, or a temporary dip in the oil supply somewhere... All of this combined cannot account for $115 dollar-a-barrel oil. It's hedge funds feeding off the last bit of bad news to keep prices spiraling higher."

Beyond drawing on the strategic reserve, Consumer Watchdog has called for:

-- Closure of the "Enron Loophole" in commodity trading regulation. A regulatory measure in the federal farm bill (S.2058 by Sens. Dianne Feinstein and Carl Levin) would regulate trading markets to help stop speculative oil pricing. (See more on Enron Loophole and farm bill amendment at: http://www.oilwatchdog.org/articles/?storyId=18735 ) With the farm bill stalled, the Senate measure should be passed separately and sent quickly to the White House.

-- Regulatory increase of the amount of margin funds that buyers must put up in energy trades to help suppress speculation by traders who will never take possession of a barrel of oil.

-- Senate approval of a measure to withdraw $1.8 billion a year in unjustified taxpayer subsidies to oil companies and use the funds for development of job-creating green energy businesses. This measure, passed by the House, has not been taken up in the Senate, where opponents are using a filibuster tactic to require 60 votes for passage. A similar House measure was removed from the federal energy bill by the Senate last year under pressure from the oil lobby.

-- Oversight of refinery operations, including regulation of national gasoline supplies. In the last decade, the average on-hand supply of gasoline has dropped from 30 days' worth to about 22 days. This makes prices increasingly sensitive to any cuts in gasoline production.

Consumer Watchdog is a leading nonprofit, nonpartisan consumer advocacy organization. For more information, see www.consumerwatchdog.org and www.oilwatchdog.org

SOURCE Consumer Watchdog

http://www.consumerwatchdog.orgCopyright © 2008 PR Newswire. All rights reserved

[Henry]

Easy does it now...food, fuel, or skateboard? I know that some of you clueless i mean ideological pure from 2003,4,5,6,7 are having to pat yourselves on your back for your pathology. put that on the table and eat it but whatever you say you can't say you are surprised. but then honesty was always toomuch to aske for pardom my spelling but i want to make sur you can read and not get konfused.


http://www.msnbc.msn.com/id/12400801/



In the middle of the article:

" On Tuesday, May crude futures rose to a trading record of $119.90 as investors scrambled to square positions before the contract expired. At the moment, June crude does not face the same pressure to rise, though many forecasters predict prices could eventually breach the $120 level."

[Henry]

have a nice one hundred and twenty dollar day



http://www.msnbc.msn.com/id/24227497/



for instance:

"OPEC chief sees cost of oil going still higher
Cartel will increase production if supply is problem, but he doesn’t think it is"


updated 1:39 p.m. CT, Sun., April. 20, 2008
ROME - OPEC Secretary-General Abdullah el al-Badri said Sunday oil prices would likely go higher and that the group was ready to raise production if the price pressure was due to a shortage of supply — something he doubted.

"Oil prices, there is a common understanding that has nothing to do with supply and demand," al-Badri said on the sidelines of an energy conference in Rome."



And in the same article...


""But how much higher it will go, of course it depends on a number of things: the political situation, whether there is a natural catastrophe, whether there are speculations in the market, whether there are strikes in certain producing countries. So there are many other factors other than OPEC production," al-Badri said."



I'D LIKE TO REMIND THE pathlogical hiding amidst the bandwidth that so far and with the price of oil around 118+++ a barrel and rising...none of your usual sensible reasons to explain the price rise seem to be on the
horizon. So,in the interest of let's say the ridiculous why not pop your heads above your spider holes and spew the absurd. You see, even the professionals are running out of ideas and some here know how deep you'll descend to conjure any absurdity simply to invent a semi reasonable explanation. Just label your response as fiction so you could assert a modicum of accuracy. Someday you might have to be honest and certainly the practice will help.


PETROLEUM ($/bbl)

PRICE* CHANGE % CHANGE TIME
NYMEX CRUDE FUTURE 118.52 2.46 2.12 04/25
DATED BRENT SPOT 116.28 2.01 1.76 04/25
WTI CUSHING SPOT 119.70 2.49 2.12 04/25

[Henry]

http://www.washingtonpost.com/wp-dyn/content/article/2008/05/06/AR2008050600498.html?hpid=moreheadlines

Oil passes $122 on $200 oil prediction, supply concerns

By JOHN WILEN
The Associated Press
Tuesday, May 6, 2008; 11:41 AM


NEW YORK -- Oil futures blasted to a new record over $122 a barrel Tuesday, gaining momentum as investors bought on a forecast of much higher prices and on any news hinting at supply shortages. Retail gas prices edged lower, but appear poised to rise to new records of their own in coming weeks.

(and)

Oil prices have nearly doubled from about $62 a barrel a year ago, which Goldman sees as a sign that the world is in the midst of a "super spike" in oil prices. Analyst Arjun Murti said in a research note released Monday that prices would ultimately force demand to fall sharply. etc.


In all fairness there are some who anticipate continued rise in price and others who believe decline in price.

[Henry]

Here's one for all of you bleeding heart hand out sucking liberals out there.



http://www.washingtonpost.com/wp-dyn/content/article/2008/05/08/AR2008050803143.html?hpid=topnews



Oil Lobby Reaches Out to Citizens Peeved at the Pump


By Jeffrey H. Birnbaum
Washington Post Staff Writer
Friday, May 9, 2008; Page D01

Faced with a national outcry over the high price of gasoline and soaring profits for energy companies, the oil and gas industry is waging an unusually pricey campaign to burnish its image.

The American Petroleum Institute, the industry's main lobby, has embarked on a multiyear, multimedia, multimillion-dollar campaign, which includes advertising in the nation's largest newspapers, news conferences in many state capitals and trips for bloggers out to drilling platforms at sea

[Henry]

From CNN Money...




Oil: After hitting $126, is $150 far behind
Crude futures continue to explore the upper price reaches, but getting too much further might not happen so easily.


By Catherine Clifford, CNNMoney.com staff writer
Last Updated: May 9, 2008: 1:09 PM EDT


OPEC's magical oil supplies



Why $120 oil is good
Oil: After hitting $126, is $150 far behind?
Gas prices hit 2nd straight daily record
Think gas hurts? Try diesel

NEW YORK (CNNMoney.com) -- Oil leaped into uncharted territory Friday, soaring past the $126-a-barrel mark for the first time, and leaving analysts and investors wondering how high the price will go.

U.S. light crude futures for June delivery hit an intraday record $126.20 in electronic trading, backing off to $125.31 by around 1 p.m. ET. That was still $1.62 above Thursday's record closing settlement of $123.69 a barrel.

The price of a barrel of crude oil has more than doubled in the past year. On May 9, 2007, the active contract settled at $61.55 a barrel.

And if oil has doubled in the past year, what has to happen for oil to hit $150 a barrel?

"This rally has really blown a lot of people's minds," said Andrew Lebow, energy broker at MF Global (MF). "You talk about $150 even a few weeks ago and people talk about you are a lunatic."

etc.



Back in 1974 or so on the very, very late night radio in NYC there was a midnight to 5 or 6am slot filled by "Long John Nebel." He went into the paranormal, extra-terrestrial...you name it and he looked into it. OK.

So...he also spent time on the price of OIL and GAS. And all I gots to say is wackadoodle aside, Mr. Nebel was SPOT ON WITH his ability to accurately forecast this wild ride we're on. Specifically, he didn't look toward a bit of an increase, he didn't look at a major increase...HE examined an out of control vertical increase. Anyway, Long John Nebel is a footnote to radio, 1974 is pretty much a lifetime ago and perhaps this vertical, straight up rise might not go on forever.

After all the stuff is traded, there is a market place and nothing is forever.
At least the part of nothing that IS forever has nothing to do with the price of oil.

what the hell.