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Oil and Gas Thread: 3-16 Oil down to $43 Gas over $4 on West Coast
#1
2-12-2015

US gas pump hacked with 'Anonymous' tagline

Researchers at Trend Micro have found evidence that at least one internet-facing gas pump in the United States has been hacked by an actor using the call-sign of the hacking group Anonymous.

Statistics provided by Trend Micro indicate that gas-pump vulnerabilities are currently a uniquely American attack vector, since the U.S. contains 98.350% of the world’s internet-facing gas pump control mechanisms
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#2
2-16-2015

Two West Virginia towns evacuated after train carrying crude oil derails and explodes

The explosion caught multiple homes on fire.

Water systems in Montgomery and Cedar Grove, downriver from the incident, have also closed their intakes due to the potential oil spill

Residents in those areas were encouraged to conserve water.




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#3
This is why we need more pipelines.
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#4
(02-17-2015, 09:38 AM)SickBeast Wrote: This is why we need more pipelines.

Keystone would not have prevented this. Keystone oil is not destined for the U.S. They want to build the pipeline to export oil.

I see videos work natively without having to add code that constantly broke like with the PHP forum software.
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#5
Since 1973 Americans have been at the mercy of the Oil Companies.

Despite Exxon Valdez, Deep Horizon Gulf disaster and mounting oil train car wrecks the Industry is untouchable.

This thread will track the prices and lies by this Industry.
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#6
I have to laugh at this.

Anyone believe this? I've got a bridge in Brooklyn New York for sale for you

2-16-2015

Get Ready for $10 Oil

Bloomberg By A. Gary Shilling 

At about $50 a barrel, crude oil prices are down by more than half from their June 2014 peak of $107. They may fall more, perhaps even as low as $10 to $20. 



To contact the author on this story:

A Gary Shilling at insight@agaryshilling.com
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#7
Oil now up to $62, remember the Oil Thugs supporters just said oil will go down to $10

2-17-2015

Oil rises to $62

Oil rose to $62 a barrel on Tuesday, close to its 2015 high, supported by threats to Middle East supplies and expectations lower prices may prompt a slowdown in U.S. output.

Brent has jumped by almost 40 percent in the last four weeks, supported by a sharp fall in U.S. oil drilling. It had reached $45.19 on Jan. 13, the lowest in almost six years, down from $115 in June.
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#8
i think the user removed that video, thats what it says anyhow.
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#9
2-17-2015



Buffett sells all shares of ExxonMobile and Conoco Phillips

Billionaire Warren Buffett’s company unloaded its 41 million shares of Exxon Mobil Corp. and sold a smaller stake in ConocoPhillips as oil prices fell last fall.

Berkshire Hathaway filed an update on the stocks it held at the end of 2014 with the Securities and Exchange Commission Tuesday.
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#10
2-18-2015

Southern California Exxon Mobil refinery explodes

An explosion occurred Wednesday at an Exxon Mobil refinery in Southern California, triggering a very large smokestack flare to burn off flammable product, authorities said.

Roads were closed after the incident shortly before 9 a.m. and ash was in the air, Torrance police Sgt. Paul Kranke said.

The blast happened in a processing facility and the material involved was most likely gasoline, Fire Department spokesman Steve Deuel told KCBS-TV.

The refinery about 20 miles south of downtown Los Angeles covers 750 acres, employs over a thousand people, and processes an average of 155,000 barrels of crude oil per day, according to the company.
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#11
(02-19-2015, 12:30 AM)ocre Wrote: i think the user removed that video, thats what it says anyhow.

Changed video to major news site so it shouldn't change any time soon.
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#12
i am pretty sure the only reason oil prices went so low was to hurt Isis and their black market oil smuggling. Oil actually went lower than they were selling it on the black market. All of it is rigged rigged rigged. And the rumors that it would go on down to 10 was just to drive out as many investers as they could so that the fat cats can capitalize and buy up endless amounts of stock at completely unbelievable prices. Once the Allied forces drive down Isis and effectively destroy their physical ability to run black a balck market oil network. Once they drive them out or destroy the oil wells, there is no doubt in my mind that prices will come back up so quickly you might might as well say overnight.

It is all a big set up that not only aids in the attack against isis but also one that will make the unimagiably rich many times richer. They will cash in on this like nothing we have ever seen before. The potential to make 10 times their trillions almost overnight.

If you trade or buy stock, you should have loaded up on oil yesterday.
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#13
(02-19-2015, 02:04 AM)ocre Wrote: i am pretty sure the only reason oil prices went so low was to hurt Isis and their black market oil smuggling. Oil actually went lower than they were selling it on the black market. All of it is rigged rigged rigged. And the rumors that it would go on down to 10 was just to drive out as many investers as they could so that the fat cats can capitalize and buy up endless amounts of stock at completely unbelievable prices. Once the Allied forces drive down Isis and effectively destroy their physical ability to run black a balck market oil network. Once they drive them out or destroy the oil wells, there is no doubt in my mind that prices will come back up so quickly you might might as well say overnight.

It is all a big set up that not only aids in the attack against isis but also one that will make the unimagiably rich many times richer. They will cash in on this like nothing we have ever seen before. The potential to make 10 times their trillions almost overnight.

If you trade or buy stock, you should have loaded up on oil yesterday.

So nice to see someone that does not support the Oil Thugs and sees this for what it is.

Oil Barons are part of that other Tech website and banished me for telling the truth about this corrupt Industry.
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#14
They have got to do something about the speculators driving up the cost of gas artificially. It should be illegal. I hope they all lose their shirts.
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#15
2-20-2015

Crude oil flowing into Cushing, Oklahoma, worth billions

CUSHING, Okla. — An Oklahoma town known as the “Pipeline Crossroads of the World” is again the focus of the global energy industry.

The Oklahoman reports that Cushing is home to the nation’s largest oil storage facility, a complex capable of holding more than 80 million barrels of crude oil. As oil prices have plummeted over the last several months, the U.S. Energy Information Administration said companies have stockpiled about 2.2 million barrels a week at Cushing.

Companies hope to sell the oil at higher prices when prices rise again because the oil market is currently in contango, which means that oil delivered in the future will be worth more than oil delivered now.

As of Feb. 13, the facility is holding almost 46.3 million barrels, valued at about $2.4 billion. Brian Busch, director of oil markets and business development at energy data and analysis firm Genscape, says that the facility could reach operational capacity by April if this rate continues.

Cushing has seen its capacity nearly filled before. Throughout 2010 and 2011, Oklahoma, North Dakota and other states were producing more oil than the existing pipelines could handle causing the Cushing facility to fill up.
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#16
2-20-2015

Oil rises towards $61, U.S. rig count lowest since 2011

Brent crude oil rose towards $61 (40 pounds) a barrel on Friday as expectations of falling U.S. rig count numbers outweighed concerns about oversupply.

The number of rigs drilling for oil in the United States fell to its lowest since August 2011 last week. 

"A further sharp decrease in the oil rig count is expected ... which points to declining U.S. oil production in the second half of the year," said Commerzbank analyst Carsten Fritsch in a note to traders.

In Libya, three car bombs killed 40 people in the eastern city of Qubbah on Friday, days after Egyptian air strikes on Islamic State militants there.

Libya's oil output has almost completely collapsed, falling to less 200,000 barrels per day (bpd) from 1.6 million bpd before the country's 2011 civil war.
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#17
2-20-2015

T. Boone Pickens Predicts Oil Rebound, Buys 12 Energy Stocks


T. Boone Pickens, a billionaire oil investor, took to Youtube on Friday to update his followers on his outlook for oil prices, which have dropped precipitously over the past six months.

Pickens started the video by reminding viewers that he said on Dec. 23, 2014 to "watch the rig count."

"I said on Dec. 23, give me 12 to 18 months, and we'll be back to $80 or $90 a barrel. I still believe I'm right on that."

His investing during the fourth quarter backed up his thesis. Pickens purchased 12 new oil and gas stocks out of 15 new stocks purchased in total.
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#18
(02-20-2015, 06:38 AM)SickBeast Wrote: They have got to do something about the speculators driving up the cost of gas artificially. It should be illegal. I hope they all lose their shirts.

The only ones that will lose their shirts is the American people.

It's rich boys playing in their sand box that control the world.

Warren Buffet dumps his shares and T. Boone Pickens picks them up and vice versa.
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#19
Things are going to change. Electric cars are starting to catch on.
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#20
Remember this when Oil is back over $100 and Gas back over $4

2-25-2015

Are oil producers running out of closet space?

Oil supply running ahead of demand hasn't just pressured prices, it's also filling up storage space

Around 50 million to 100 million barrels of crude oil may be gathering dust in floating storage by the end of the second quarter, compared with around 110 million barrels in April 2009, during the global financial crisis

As much as 80 percent of the commercially available storage in the U.S. may already be utilized

Others are also concerned about how quickly space could run out. "Within around two months, [onshore storage will] be completely exhausted," Ivan Szapakowski, a commodity strategist at Citigroup, told CNBC last week. "The only remaining storage globally will then be floating storage, tankers." 

Oil is already getting stashed offshore. Tanker prices and lease rates have doubled over the past 18 months

"Clearly, someone is going out there and leasing a lot of offshore storage and those lease rates are much higher. That suggests to me that there's a massive supply of oil sitting on the ocean," Sodhi said, noting each tanker can hold around 1 million to 2 million barrels each. "That sort of storage is going to take a while to unwind."
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#21
Remember all this manipulation when the Oil Thugs say there is no oil and Oil is back over $100 and Gas back over $4

2-22-2015

Oil tankers idle for months off Delaware waters, puzzling some

Late last November, the tanker Olympic Flag carrying 650,000 barrels of Angolan crude dropped anchor about 7 miles off the coast in Delaware Bay, a seemingly routine shipment destined for a nearby Philadelphia refinery.


What happened next was anything but routine. Instead of discharging its cargo within days and heading off for the next port, the ship idled offshore for nearly 11 weeks, discharging the oil at an unaccountably slow rate, according to shipping sources as well as vessel tracking data on ThomsonReuters Eikon.

That vessel finally set sail two weeks ago - but by then it had already been joined by five more idling tankers, an unusual and costly congregation that has puzzled experts and traders. All the vessels arrived by mid-January, and four of them are expected to stay in the waterway for up to five more weeks.

The cause of the tanker jam - which at its peak involved more than 3.5 million barrels of crude, worth an estimated $175 million even at currently low prices - is not at all clear. The extended stays have even raised concerns about the welfare of sailors aboard the vessels.

All six of the tankers appear to have been destined for Philadelphia Energy Solutions, the 335,000-barrel-per-day (bpd) refinery co-owned by The Carlyle Group and a subsidiary of Energy Transfer Partners, L.P.. Five of the cargoes were imported by the company itself or banks that finance their supplies, according to customs data. The sixth discharged at a Delaware River terminal used by PES, tracking data show.


One person familiar with the tankers said they are "drip feeding" crude into the plant, a rare set-up that may be caused by a lack of onshore storage space for these particular varieties of crude, or limitations on the rate at which the infrastructure can receive supplies, the person said.
Others say that might explain a prolonged stopover, but doesn't explain a months-long pause. PES, or other charterers, are paying a daily rate to keep the vessels idle.

"Crude ships queue and un-queue all the time. Just normal business cycles," Philadelphia Energy Solutions spokeswoman Cherice Corley said in an email when asked about the tankers. She declined any further comment on the issue.
Repeated attempts to contact the owners or managers of the ships, most based on Greece, were unsuccessful.

Some sources speculated that the tankers might be related to the revival of the "floating storage" trade, in which traders can make money by buying deeply discounted immediate-delivery crude oil and waiting to sell it months later when prices rally.

BIG STONE FOR LIGHTERING, NOT PARKING

Big Stone anchorage, a stretch of water a few miles off the coast of Delaware and New Jersey, is usually used for lightering ships - using barges to siphon off crude so that the tankers are light enough to enter the ports. Typically, this takes less than a week, local shipping sources told Reuters.
The Value, an Aframax tanker from Canada, arrived on Dec. 15 and has yet to depart. It loitered so long that it ran out of fuel in early January, according to the U.S. Coast Guard.

There are no fees for staying at the Big Stone anchorage, and no restrictions on how long ships can stay there, according to the Coast Guard.

"We are concerned. They have been out there for a long time," says Reverend Peter Stube, the head of the Seaman's Church, which looks after the welfare of sailors that come into the city's port. "I hope they have proper food and water."

The Minerva Helen, carrying 710,000 barrels of Canadian White Rose crude, arrived Nov. 27, the same day that OPEC's decision to preserve production levels sent crude markets into a tailspin. It is not scheduled to depart until March 3, according to the Seaman's Church Institute of Philadelphia, a non-profit that monitors activity at the port.

The importers of record include two banks: JPMorgan Chase & Co., which had a contract supplying and financing crude to PES; and Bank of America unit Merrill Lynch Commodities, which took over that contract late last year. Two cargoes were received directly by PES, and the last one by ExxonMobil, according to customs data collected by PIERS and available via Eikon's Trade Flows database.
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#22
2-28-2015

Why are gas prices going up

In Southern California, the price at the pump has spiked a record 79 cents, according to AAA.

"Right now we're basically in the eye of the storm," says Allison Mac, an analyst with GasBuddy.com.

She says the problem is not the price of crude oil, which is holding steady at about $49 per barrel. The problem is at the refinery.

"In the industry we call this a first quarter climb. Every year around this time, nationally prices go up because we switch over to summer blend gas"

Refineries go through a maintenance cycle during the switch over. That means production is lower. 

And if you needed one more reason to hate this wicked winter, it's also costing you money. Extreme cold in the Northeast has slowed production at three refineries that account for more than two-thirds of East Coast oil output.
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#23
Remember this as gas is climbing towards $4 once again.

There is more oil than in 80 years yet the Oil Thugs will claim there is no oil once again because they have shut down the rigs on purpose.

3-3-2015

US running out of room to store oil; price collapse next?

The U.S. has so much crude that it is running out of places to put it, and that could drive oil and gasoline prices even lower in the coming months.


For the past seven weeks, the United States has been producing and importing an average of 1 million more barrels of oil every day than it is consuming. That extra crude is flowing into storage tanks, especially at the country's main trading hub in Cushing, Oklahoma, pushing U.S. supplies to their highest point in at least 80 years, the Energy Department reported last week.

If this keeps up, storage tanks could approach their operational limits, known in the industry as "tank tops," by mid-April and send the price of crude — and probably gasoline, too — plummeting.


"The fact of the matter is we are running out of storage capacity in the U.S.," Ed Morse, head of commodities research at Citibank, said at a recent symposium at the Council on Foreign Relations in New York.

The delivery point for most of the oil traded in the U.S. is Cushing, a city of about 8,000 people halfway between Oklahoma City and Tulsa at an intersection of several pipelines. The city is dotted with tanks that can, in theory, hold 85 million barrels of oil, according to the Energy Department, though some of those tanks are used for blending or feeding pipelines, not for storing oil.


The market data provider Genscape, which flies helicopters equipped with infrared cameras and other technology over Cushing twice a week to measure storage levels, estimates Cushing is two-thirds full.

Hillary Stevenson, who manages storage, pipeline and refinery monitoring for Genscape, says Cushing could be full by mid-April. Supplies are increasing at "the highest rate we have ever seen at Cushing," she says.

Morse has suggested oil could fall all the way to $20 a barrel from the current $50. At that rock-bottom price, oil companies, faced with mounting losses, would stop pumping oil until the glut eased. Gasoline prices would fall along with crude, though lower refinery production, because of seasonal factors and unexpected outages, could prevent a sharp decline.

The national average price of gasoline is $2.44 a gallon. That's $1.02 cheaper than last year at this time, but up 37 cents over the past month.

Full tanks — or super-low prices — are not a sure thing. New storage is under construction at Cushing, and there are large storage terminals near Houston, in St. James, Louisiana, and elsewhere around the country that will probably begin to take in more oil as prices fall far enough to cover the cost of transporting the oil.

Also, drillers are cutting back fast because oil prices have plummeted from $107 a barrel in June. And demand is showing signs of rising.
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#24
3-6-2015

The Liars and Losers on that other site miss me so much after they banned me:

Dave M (dmcowen674) ran away with this one.

Meanwhile their Heroes have boosted the price of gas five times the increase of oil:

U.S. Gas Pump Prices Rising Five Times Faster Than Crude Oil

Gasoline is rising five times faster than crude oil as refinery shutdowns limit supplies.

Retail gasoline increased 0.3 cent to $2.458 a gallon Thursday, the highest level since Dec. 17, according to Heathrow, Florida-based AAA. After climbing 20 percent since Jan. 31, prices will rise by another 20 cents this month because of refinery maintenance and unexpected outages, the nation’s largest motoring group estimates. 

Refineries are operating at the lowest rate in six weeks, government data show. Fuel production may slow further as more plants shut for seasonal maintenance. Gasoline is also climbing as the panic in oil markets subsides, with volatility the lowest in three months. The gain threatens to reduce the windfall to U.S. drivers from last year’s plunge. 

Retail gasoline on the West Coast rose a record 37.2 cents a gallon to $3.13 in the week through March 2, EIA data show. 

Gasoline for April delivery on Nymex was $29.31 a barrel over WTI Friday, $5 above the five-year average for this time of year. 
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#25
The sycophants at BTR miss me so much after they've de facto banned me too. Trollpoppin will kill BTR sooner or later.
Valve hater, Nintendo hater, Microsoft defender, AMD hater, Google Fiber hater, 4K lover, net neutrality lover.
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#26
Oh no are you calling me a name again!? Let me try to regain my composure. LOL
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#27
Begone, troll.
Valve hater, Nintendo hater, Microsoft defender, AMD hater, Google Fiber hater, 4K lover, net neutrality lover.
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#28
Dave you might need to deal with this guy. He's rude.
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#29
(03-07-2015, 05:57 AM)SickBeast Wrote: Oh no are you calling me a name again!?  Let me try to regain my composure.  LOL

is trollpoppin a jab at you?

i wouldnt think so.

I think he would have said "Troll-Beast" if he was calling you a name.
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#30
(03-07-2015, 09:32 AM)ocre Wrote:
(03-07-2015, 05:57 AM)SickBeast Wrote: Oh no are you calling me a name again!?  Let me try to regain my composure.  LOL

is trollpoppin a jab at you?

i wouldnt think so.

I think he would have said "Troll-Beast" if he was calling you a name.
He called me that in a different thread already.

To be fair, the "s" implied that it was plural and I can only assume that he was talking about me as well. There is no one else that he is flaming.
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#31
3-12-2015

losangelesgasprices

Wow, gas jumped from $3.15 to $4.89 in Los Angeles today

$5 gas is here again with oil at $47 a barrel

Amazing to see
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#32
3-13-2015



Why Sausalito gas station charges nearly $8 a gallon

A Marin County gas station’s prices climbed so high this week — up to nearly $8 a gallon for the regular stuff — that rubberneckers thought they were witnessing a prank.

But the prices were real.

Mann, who operates independently of the big oil companies, said that when his supply costs went up, he was forced to raise prices.

But this is Marin, and people have continued to pull up to the pricey pumps.

“You get the people that like us,” Mann said. “They like the location. They like the classical music we play.”

It also helps that Sausalito boasts a large share of unwitting tourists, plus residents with a median family income of $115,000 a year.

“People in Marin County have a lot of money. They don’t care about $2 or $3 higher per gallon,” Mann said.
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#33
Oil less than $43 today and they have run out of storage to put all the oil.

Remember this when in a short time they say there is no oil.

3-16-2015

Oil plunges to a 6-year low. Is $30 a barrel next?

Crude plunged 4% to as low as $42.85 a barrel on Monday. That's the lowest price since March 2009 and marks the fifth consecutive day of losses

This should bring smiles to the faces of the millions of American drivers who have watched gasoline prices creep higher in recent weeks.

What's fueling the latest plunge? The world still has too much oil. The supply glut that sparked the dramatic crash in crude from $100 a barrel last summer to under $50 in January remains. Oil settled at $43.88 on Monday.

Strong dollar, weak oil: At the same time, the U.S. dollar continues to skyrocket at an even faster pace than anyone expected. One dollar is now nearly worth one euro, and Goldman Sachs thinks the euro could plunge to just 80 cents by the end of 2017.

A stronger greenback is bad for oil prices because the black stuff trades in dollars. So when the dollar strengthens, it makes oil more expensive for foreign buyers whose own currencies are weaker.
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#34
What I don't understand is that the price of gas is still fairly high where I live. Apparently they have been switching from "winter gas" to "summer gas" which causes a disruption and a price increase but it has gone on for several weeks now.
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#35
(03-17-2015, 06:16 AM)SickBeast Wrote: What I don't understand is that the price of gas is still fairly high where I live. Apparently they have been switching from "winter gas" to "summer gas" which causes a disruption and a price increase but it has gone on for several weeks now.

Every year the planet has seasons. You would think that it wouldn't be something new or a problem for the Oil Scummers.

It's just their scam they get away with because the American public let them get away with it.
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#36
I would really like to see all these speculators lose their shirts. It would serve them right.
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