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30,000 hits. Journey to the Center of the Earth: OIL LOG
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Henry



Joined: 03 Apr 2001
Posts: 2878
Location: NYC

PostPosted: Sat Nov 29, 2008 10:22 am    Post subject: Reply with quote

The literal translation without affectation, subterfuge and deceit.






Saudi king says oil should be $75 per barrel

By TAREK EL-TABLAWY and ADAM SCHRECK (AP Business Writers)
From Associated Press
November 29, 2008 9:49 AM EST
CAIRO, Egypt - Saudi Arabia's king says the price of oil should be $75 a barrel, much higher than it is now, but his oil minister indicated Saturday that no measures will likely be taken until OPEC meets again next month.

Saudi Oil Minister Ali Naimi said that the Organization of Petroleum Exporting Countries will "do what needs to be done" to shore up falling oil prices when the group meets Dec. 17 in Algeria, but for now it was "too early."

Other ministers at the hastily convened OPEC meeting in Cairo did not entirely rule out cuts, including Libyan oil official, Shokri Ghanem, who, ahead of the meeting, said "all options are open."


But Naimi, whose country is the world's largest oil producer, said the bloc needs to wait until the Algeria meeting to assess the impact of earlier production cuts.

Naimi's comments came after Saudi King Abdullah told the Kuwaiti newspaper Al-Seyassah in an interview published Saturday that oil should be priced at $75 a barrel.

"We believe the fair price for oil is $75 a barrel," he said, without saying how the price could be raised.

The price of crude stood at about $147 a barrel in mid-July. On Friday, the U.S. benchmark West Texas Intermediate crude for January delivery was trading at about $54 per barrel.

The king was echoed by Qatar's Oil Minister Abdullah Bin Hamad al-Attiya, who told the Arab news channel Al-Arabiya that prices needed to rise to guarantee investment into the oil sector.

"The price between 70 to 80 (dollars a barrel) is the one encouraging in investment and developing new or current oil fields," he said. "It falls below 70 (dollars), the investment would freeze, which will lead to a crisis in supply in the future."

Nigerian Oil Minister Odein Ajumogobia also said they would be "very happy" with oil at $75.

The cartel has already held an emergency meeting in Vienna on Oct. 24 to announce a production cut of 1.5 million barrels per day.

The cut failed to stop the price drop, and the cartel abruptly convened the Cairo gathering on the sidelines of the Organization of Arab Petroleum Exporting Countries' meeting.

Kuwait's oil minister, Mohammed al-Aleem, said he believes there is no need for OPEC to make a decision in Cairo on cutting output. But he warned the market is oversupplied, and didn't rule out the need for OPEC to cut production further.

"We believe a decision could be taken ... but I think it will happen in Algeria," he said.

Al-Aleem said current prices could undercut investment in future projects and were not good for either producers or consumers.

The recent price drop has left OPEC price hawks Venezuela and Iran clamoring for further reductions of at least 1 million barrels a day. Both countries need crude at about $90 per barrel to meet spending needs aimed in part at propping up domestically unpopular regimes.

Other OPEC members, such as Nigeria and Ecuador, face budget problems too, making them reluctant to implement more cuts that might shrink revenues further.

The Saudis are better positioned to cope with the drop in prices. The International Monetary Fund estimates Riyadh needs crude in the range of about $50 per barrel for 2008 fiscal accounts to break even.

The statements by the king, however, indicate that normally dovish Saudi Arabia is ready to see the price rise, indicating cuts will eventually take place.


OPEC itself, along with the International Energy Agency, has significantly revised down its projections for demand growth in 2009.

Meanwhile, global crude inventories are growing, as evidenced by a U.S. government report showing a surprisingly large 7 million barrel build in stocks last week in the world's largest energy consumer.

OPEC's last round of cuts would put its total production at about 30.5 million barrels per day, according to the IEA. That is about 500,000 barrels per day higher than the forecast call on OPEC crude in much of 2009.

A Nov. 24 New York-based Oppenheimer & Co. research report says that for oil to rebound to $65 a barrel, OPEC would need to cut crude production by more than 3 million barrels per day from its September levels - a move it called highly unlikely.

-----

Associated Press Writer Hadeel al-Shalchi contributed to this report.
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Henry



Joined: 03 Apr 2001
Posts: 2878
Location: NYC

PostPosted: Tue Dec 16, 2008 2:18 am    Post subject: Reply with quote

I just remember all the lame yet rational excuses (adjusted for inflation, the market place...or was it the 'free market place.' hurricanes et al) that
were made here throughout the years. Mixed in with a touch of snowflake babies and additional assorted baloney it made for quite a royal screwing of my wallet and a few other things.

Well now you have it...here, in black and white type...your own personal hurricane. Your own personal free and unimpeded market place. Minus the baloney and you can read it for yourself. If you think it was any different 6 years ago then you are like my Christmas fruit cake...nutty and fruity.

but tasty...and just a bit excessively doctrinaire



http://www.washingtonpost.com/wp-dyn/content/article/2008/12/15/AR2008121502982.html?hpid=moreheadlines


OPEC Plans Drastic Cut In Oil Production

Flags of Organization of the Petroleum Exporting Countries members fly in Oran, Algeria, site of tomorrow's meeting. (By Adam Berry -- Bloomberg News)



By Steven Mufson
Washington Post Staff Writer
Tuesday, December 16, 2008; Page D01
Facing its biggest test in a decade, the Organization of the Petroleum Exporting Countries is planning to make a major cut in oil output at a meeting in Oran, Algeria, tomorrow in an effort to stop the slide in oil prices, which have dropped by two-thirds since July.

etc.
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Henry



Joined: 03 Apr 2001
Posts: 2878
Location: NYC

PostPosted: Tue Dec 16, 2008 2:25 am    Post subject: Reply with quote

i can hardly believe there's been over 11,000 hits on this thread
that's nice. thank you.
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Henry



Joined: 03 Apr 2001
Posts: 2878
Location: NYC

PostPosted: Wed Dec 17, 2008 1:14 pm    Post subject: Reply with quote

For those of you waiting for another hurricane: There ain't going to be one.

From the boys who busted your wallet, credit line, and meager resources during this past spring and summer (not to mention the past 7+ years)
THEY NOW GIVE YOU ANOTHER!!!

However, this time there's no make believe involved.
And this time you know exactly what happened during the summer and what happened during the past 7+ years.

You dont? Well, try using your imagination. That 's usually harmless.



http://www.washingtonpost.com/wp-dyn/content/article/2008/12/17/AR2008121701314.html?hpid=topnews



OPEC Agrees to Cut Daily Oil Production


By Steven Mufson
Washington Post Staff Writer
Wednesday, December 17, 2008; 12:35 PM

The Organization of the Petroleum Exporting Countries today agreed to cut production by 2.2 million barrels a day, slightly more than expected, and called on oil producers outside the group to join in output cuts in a bid to halt the five-month slide in world oil prices.

But prices continued to slide immediately after the announcement, as traders appeared to bet that the production cuts would not be big enough to offset the decline in demand resulting from the slumping world economy. Shortly after noon, the price for January delivery fell $2.50 a barrel, to $41.10 on the New York Mercantile Exchange.

Nonetheless, many oil analysts said that the OPEC cut would ultimately prop up prices. The cuts are scheduled to go into effect Jan. 1.

"It's a big cut. These guys are taking the situation very seriously," said Roger Diwan, a partner at PFC Energy, a Washington consulting firm. "Right now the price is falling. But let them cut, and I think it will stabilize prices."

etc.
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Henry



Joined: 03 Apr 2001
Posts: 2878
Location: NYC

PostPosted: Thu Dec 18, 2008 1:54 pm    Post subject: Reply with quote

REAL, REAL NICE.

First you were suckered into one thing, then your were suckered into another thing, after that you were suckered into the Official Land of Suckerville and now you're so darn dizzy that you'll suck on anything.

And you can't say for one itsy bitsy minute minute that you were not informed. You simply didn't like what was being said and chose to believe a load of bullcrap instead.





http://www.nytimes.com/2008/12/19/business/19markets.html?_r=1&hp

Oil Prices Slip Below $40 a Barrel


By JACK HEALY
Published: December 18, 2008
Wall Street shares were mixed on Thursday as oil prices continued to decline, sliding below $40 a barrel to their lowest levels in more than four years, even after the OPEC cartel said it would cut production by another 2.2 million barrels a day.

Crude oil was trading for $38.85 in New York on Thursday morning, down $1.21 a barrel, as the widening global recession showed no signs of relenting anytime soon. Oil and gas consumption has plunged this fall as the economy has deteriorated, dragging oil prices down from their July peak of slightly more than $145 a barrel.

etc.

AND AND AND AND AND AND AND AND


http://www.nytimes.com/2008/12/19/business/19auto.html?hp


Bush Weighs ‘Orderly’ Bankruptcy for Automakers


By DAVID STOUT and MICHELINE MAYNARD
Published: December 18, 2008
WASHINGTON — The White House said on Thursday that an “orderly” bankruptcy was one option being considered to try to rescue General Motors and Chrysler, which are seeking billions of dollars to avoid a shutdown.


etc.
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Henry



Joined: 03 Apr 2001
Posts: 2878
Location: NYC

PostPosted: Mon Dec 29, 2008 8:30 pm    Post subject: Reply with quote

All quiet on the western front.
It's been a great 8 years.
For cave people.

Accomplishments:
1. invented the wheel.
2. invented fire.
3. censored
4. censored.
5. censored.
6. invented water.
7. the red sea parted.
8. the earth was really made in 6 or 7 days.
9. censored.
10. Question
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Henry



Joined: 03 Apr 2001
Posts: 2878
Location: NYC

PostPosted: Tue Jan 20, 2009 12:11 pm    Post subject: Reply with quote

Thank goodness the nightmare of ignorance is at an end.


period. end of story.
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Henry



Joined: 03 Apr 2001
Posts: 2878
Location: NYC

PostPosted: Wed Jan 21, 2009 10:16 am    Post subject: Reply with quote

It occurred to me, oh...for a while now...if our former Dictator* would issue pre-emptive pardons (not the kind you get after a sneeze) before returning to his ranch (i predict that weed farm will be sold within the year).

And, to my delight...none were granted...save to the Border Patrolmen, whom I believe and from what I recall, were deserving of a pardon.

As for the rest of the bunch of low life dirt masquerading as high brow leaders of a nation with an actual Bill of Rights and a Constitution...who at the whim of pathology wrote and rewrote interpretations and regulations the way some folk turn out Action Comics!!! well, none were issued.

I personally believe the reason for this is the guy whose name I intend to forget for a while woke up and realized that by not knowing a damn thing about what he was doing besides what he "felt" and was induced to do...
that the pile of rubble he left behind was in part due to lousy advice. And, as a going away present to those to made off with OUR NATIONAL TREASURY and NATIONAL HONOR and RESPECT should be at least exposed or made vulnerable to the prospect of being held accountable for what happened. In other words, I believe, having seen a glimmer of light and truth, he is pissed off.

I wonder how many of this bunch will or will not be held to at least EXPLAIN, UNDER OATH, the mess.

And to those of you who object to Stem Cell Research...and the rest...I suggest voluntarily refuse to accept any of the benefits thereof.

And if you are forbade the right to speak your mind and worship as you wish (but not in PUBLIC SCHOOLS) and (this will not happen) your Second Amendment rights are voided...well, you can count on me to come to your cause. And that is more than I was accorded during the past 8 years of regressive poop rammed down the oral orifice of the American Polity.

i just might delete this shortly since let bygones be bygones and what the hell...the past 8 years belong in the garbage. but for a moment i'll consider it a right and not a privilege to SAY WHAT'S ON MY MIND without the quality of my patriotism and citizenship being called into question.

And THAT'S THE DIFFERENCE BETWEEN YESTERDAY AND TODAY.

have a nice day.


*WE WERE R-U-L-E-D rather than GOVERNED.
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Henry



Joined: 03 Apr 2001
Posts: 2878
Location: NYC

PostPosted: Fri Jan 23, 2009 4:16 pm    Post subject: Reply with quote

the usa enters the 21st century...9 years after it began

anyone here DISAPPROVE of this procedure???
anyone here REMEMBER the SNOWFLAKE BABY???


ok enough. I'll quite it down.



http://www.washingtonpost.com/wp-dyn/content/article/2009/01/23/AR2009012300584_Comments.html


U.S. Approves First Stem Cell Study for Spinal Injury

In a July 11, 2001, file photo Geron Corporation president and chief executive officer Dr. Tom Okarma sits for a portrait at the company headquarters in Menlo Park, Calif. Thomas said in January of 2009 that the company gained federal permission to inject eight to 10 patients with cells derived from embryonic cells. (Julie Jacobson - AP)

By Rob Stein
Washington Post Staff Writer
Friday, January 23, 2009; 10:20 AM
Federal regulators have approved the first experiment testing human embryonic stem cells on people, officials announced today.

The Food and Drug Administration authorized the Geron Corp. of Menlo Park, Calif., to test stem cells derived from human embryos on eight to 10 patients with severe spinal cord injuries. The study is aimed primarily at determining the safety of the cells in human subjects, but researchers also will examine the patients for any signs the therapy restored sensation or movement

"This is obviously an extraordinarily exciting event," Geron chief executive Thomas B. Okarma said in a statement. "It marks the dawn of a new era in medical therapeutics . . . one that reaches beyond pills to a new level of healing: the restoration of organ and tissue function achieved by the injection of health replacement cells."

etc.
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Henry



Joined: 03 Apr 2001
Posts: 2878
Location: NYC

PostPosted: Tue Jan 27, 2009 12:08 am    Post subject: Reply with quote

Here's your legacy. What happens when a lousy little corporal with a smelly mustache and a hierarchy of creeps wearing suits and spreading
fear like peanut butter on toast brings to us.

Personally, I feel cheated. I'd like a refund.
I'll keep my suggestions to myself.
Though, if you've a thought or three, be my guest...
It's an open Forum.



http://www.washingtonpost.com/wp-dyn/content/article/2009/01/26/AR2009012600497.html?hpid=topnews


By Annys Shin and Neil Irwin
Washington Post Staff Writers
Tuesday, January 27, 2009; Page A01
The nation's employers, including some of its largest and most sturdy, announced plans yesterday to slash more than 55,000 jobs, a staggering one-day toll that highlighted how quickly layoffs are accelerating and how widely misery is spreading throughout the labor market.


etc.
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Henry



Joined: 03 Apr 2001
Posts: 2878
Location: NYC

PostPosted: Fri Feb 20, 2009 12:23 am    Post subject: Reply with quote

http://www.washingtonpost.com/wp-dyn/content/article/2009/02/19/AR2009021903434.html?hpid=topnews


Trouble Trickles From Steep Drop in Oil Prices
Once Flush Global Economies, Energy Projects Stall



By Steven Mufson
Washington Post Staff Writer
Friday, February 20, 2009; Page A01
The precipitous fall in the price of oil in recent months, while good for consumers, has contributed to the confusion in the global economy, wreaking havoc with the budgets and economies of oil-exporting nations and putting many expensive energy projects on hold.

etc.


I know. You're all so darn happy that the price of oil at the well is down.

Well, you are all meanies. Yes, selfish brutes...all. First off how in goodness name can we get more oil if they don't have sufficient money to

(please disregard the 5+ year build up of prices till they reached $145 and probably starved your last born AND the Gadzillion of dollars parked somewhere in the world)

EXPLORE for the extra oil we'll need after everyone and his grandchildren goes out and buys an SUV; thus creating a demand shortage. WHOOPS. The BIG THREE...I MEAN MINUTE 2.5 have ceased producing many of the behemoths.

Anyway, you know what I mean. WHERE'S THE PRESIDENT WHEN WE NEED HIM. Where is he? Paraguay? Come out and lead us with stories of storms, refinery outages, refinery shortages. LEAD US. Get those prices
back up.

Whoops. Wrong President.
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Henry



Joined: 03 Apr 2001
Posts: 2878
Location: NYC

PostPosted: Tue Mar 03, 2009 11:22 am    Post subject: Reply with quote

For the past 8 years we've lived in a vacume of ignorance. The usa was ruled by irresponsibility and goverend by ignorance.

The Earth was made in 6 days with the seventh off for rest. Period. People were appointed to enforce this belief. Those who disagreed were punished, marginalized and worse.

The Grand Canyon is 6,000 years old...or else!

And if you disagreed your were branded a traitor.

We were held in contempt by the world for our stupidity.

NOW YOU KNOW OTHERWISE. It you still believe the above. Well, that is your business. Your are not a traitor, nor should you be deprived of your belief.

However, keep your fiction out of government, out of public schools and out of science. Keep your regressive falsehoods to yourselves...inside your private schools, your houses of worship and your homes. Where it belongs.

And let emperical science rather than falsehoods represented as truth or presented as a competing "truth" be reserved to its rightful place. A place protected by the First Amendment without threat and intimidation. And that is more than those who were appointed to enforce laws, stop science, and run this country ever gave to those who thought differently.


http://www.nytimes.com/2009/03/03/science/03kepl.html



Someday it might be said that this was the beginning of the end of cosmic loneliness.

COSMOS CENSUS TAKER The Kepler spacecraft is coated with solar panels.

Presently perched on a Delta 2 rocket at Cape Canaveral is a one-ton spacecraft called Kepler. If all goes well, the rocket will lift off about 10:50 Friday evening on a journey that will eventually propel Kepler into orbit around the Sun. There the spacecraft’s mission will be to discover Earth-like planets in Earth-like places — that is to say, in the not-too-cold, not-too-hot, Goldilocks zones around stars where liquid water can exist.

The job, in short, is to find places where life as we know it is possible.

etc.
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Henry



Joined: 03 Apr 2001
Posts: 2878
Location: NYC

PostPosted: Fri May 01, 2009 5:46 pm    Post subject: Reply with quote

sports car fans,


let's see...the price of oil at the sand box has fallen.

i will not waste my time going over the past number of years since the stuff rose from about $38-...when I first began informing you of the scam up to the price of about $150- when the scam was milked for all it could provide before the Chief Thief(s) knew the game was up.

Of course oh so many of you never, ever looked at it as a "game" or a "theft" or considered the possibilities of going broke from the sickening support of the previous criminal bunch masquerading as legitimate while our sorry behinds were robbed bare.

You gave every reason in and on the book for the Grand Theft USA as rational, reasoned, honest supply and demand, free market and the weather all rolled into one. And if you objected, well then you were unpatriotic on downward to a miscreant of the faith.

Well, we'll just let go of that since the damage is already done. If there are going to be any recriminations they should be left to the courts to decide and not anyone else. One crook after another. Law and Order.
You like that.

Now, back to oil. There is a long list of posts on this thread detailing the theft. Culminating in the grandest of all robberies...the four plus plus dollar a gallon last summer robbery. (well, perhaps not the grandest theft of them all...as we've found out there's been quite a few others of significance). All going on while the Thief in Chief and his pals sucked the dough right out of our pockets and maxed out credit cards.

So where are the sycophants now? Nowhere to be found defending their bilking of the us of a. Kind of similar to 1946 Germany...on their way to someplace...with the gold, cash, jewels, machine tools all stashed safely away beginning a few years before may 1945. Ran with the money they did...and if you disagreed with them while they were into their scheme and destroying their nation in the name of patriotism along the way...well, 2 doo loo 2 u. So they stole. And got away with it. So it happened here.

It's now up to the courts, if they so choose and to Congress if they so desire to investigate to deal with it. Otherwise, hey...forgetabout it. At least here, in this thread...you can follow the facts for yourselves. You can watch the robbery go on as the calender progressed.

And you can make up your own minds...

and that's my opinion...my only opinion up till now on this thread.




http://www.mercurynews.com/business/ci_12271403


Chevron earnings plunge 64 percent in first quarter


Associated Press
Posted: 05/01/2009 07:13:38 AM PDT
Updated: 05/01/2009 07:13:38 AM PDT

HOUSTON — Chevron Corp. said Friday first-quarter profit fell 64 percent as it, along with competitors, was stung by lower oil and natural gas prices.
Chevron, the second-largest U.S. oil company, said its net income for the first three months of 2009 amounted to $1.84 billion, or 92 cents per share. That compared with $5.17 billion, or $2.48 per share, in the quarter a year ago.
The most-recent result included gains of about $400 million, or 20 cents per share, for the sale of assets.
Thomson Reuters says analysts it surveyed expected earnings of 81 cents per share. Those estimates typically exclude one-time items.
San Ramon, Calif.-based Chevron says total revenue fell 45 percent to $36.1 billion from $65.9 billion a year ago.
Chevron, like others in the industry, has faced severe market conditions amid the worst global recession in a generation.
The biggest difference from a year ago is the price of oil, which spent most of 2008 at triple-digit levels and contributed to enormous profits before collapsing. A barrel of crude was trading Friday at around $50 on the New York Mercantile Exchange.
Natural gas prices have fallen sharply too as consumers scale back energy consumption and inventories build. etc.


Last edited by Henry on Sat May 02, 2009 6:58 am; edited 3 times in total
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Henry



Joined: 03 Apr 2001
Posts: 2878
Location: NYC

PostPosted: Fri May 01, 2009 5:54 pm    Post subject: Reply with quote

oh, i hope that no one was offended by the truth
well, perhaps in uruguay or bolivia or paraguay
someone was.

There's a whole new set of problems to deal with
and attempt to correct as a result of the past mess.

Not only that but, the problems that were on the table a couple of years ago have gotten worse and not disappeared. Thanks to mismanagement wholesale greed and gross incompetence the world is probably more, rather than a less dangerous place. It's not, was not and will not be that easy fix we're so fond of.

And some of the people can be fooled some of the time but not all of the time. And thanks to the wisdom of our Founders we can have an election
and have a new government every 4 years and a new Congress every 2.

Am sure there's those itching for the good old days. However, because of the transparent damage done it might be a while before mutations of this bunch of dogmatic, doctrinaire mudslingers are in the driver's seat again.

And what makes us different from most everywhere else is the First Amendment. And in the end that's more valuable than any gallon of gas.
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Henry



Joined: 03 Apr 2001
Posts: 2878
Location: NYC

PostPosted: Fri Aug 14, 2009 1:39 am    Post subject: Reply with quote

I want a refund.

I want that 2.5 billion per week spent during the past many years returned. To demonstrate my generosity you can keep what you
earned up to the date he crawled out of his spider hole.

Every corrupt, wasted, lousy dollar spent over there following that event I want placed back in the usa treasury. As a gesture of kindness you won't be charged interest and you can go on food stamps ( for 9 months) and collect public assistance ( for 9 months) and you can be eligible for health insurance (indefinite). And you gotta turn in your weapons.

You'll get a Big Mac Angus Double Burger in exchange.
Deluxe for automatic weapons.

Just pay back the 2.5 billion that was stolen from my/our treasure under false pretenses. It's not that I ain't appreciative...you get to keep the $ until the time he popped his head up from the hole...it's just that services rendered were redundant.

Anyway, it will all go to the Chinese who bought US Treasury Securities to pay for this mess. We gotta pay'm back.

So, cough it up or move to a place where there is no extradition.

I want a refund.





http://www.washingtonpost.com/wp-dyn/content/article/2009/08/13/AR2009081303775.html?hpid=topnews

and...

"...Her new job title is commander in charge of the responsible withdrawal, derived from President Obama's campaign promise to end an unpopular war in a way that does not upset the delicate balance that has allowed a measure of normalcy to return to Iraq. ..." etc.
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