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POPSGas Prices Down, Still Higher Than Last Year This data is thru Oct. 6. Gas prices today are down even more, almost to 3.00 per gallon, but still higher than a year ago. The price average last year at this time was 2.77. Prices were 1.29 pre-Iraq war in 2002. Note the crude stock chart shows that while monthly prices are falling monthly crude supply has remained about the same , busting the "supply is the problem" propaganda.
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POPSOil price plunge hurting mullahs: Ahmadinejad suspends tax hike Iranian merchants are revolting. Very funny. I don't mean their offensive odor. I mean they are protesting the harsh economic times with oil prices slashed by 50% and hurting the economy which is geared to producing nukes. Now how about a full blockade on their ports? No more an act of war than Iran providing explosively formed penetrators to their Iraqi stooges that have been killing our boys in harm's way.
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POPSUS gas prices still going down, might go below $3 Americans have been hitting the road less faced with the country's current economic situation. The dip in demand continues to drag down fuel pump prices, might go below $3 a gallon by December. Great news for motorists AND the environment.
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POPSUS gasoline price marks biggest drop ever... I think this is great news and why would this not help our economy...which everyone seems to say is bad. I can't speak for anyone else but my own family, but the only thing that's been bothersome about our economy has been the increase in food prices. Lower gas prices should help...maybe...considering the transportation of food to local markets. Now if we can get rid of that dumb ethanol idea, pursue our drilling options and encourage the movement towards our alternatives, we have a go! The worse thing we can do is tie ourselves to the "global" financial option being proposed in Europe.
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POPSSC Lowcountry Gas Prices Continue to Decline Is there another factor at work here? Gasoline sellers do seem to take their time when lowering the price of gas. Wholesalers charge retailers the maximum amount possible, because they do want to make money. This in turn makes the gasoline sellers want to keep prices as high as they can for as long as they can, to make a dollar or to recover costs. So it appears that they don’t lower their prices until inventories build up and they have to move product.
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POPS Drill Baby, Drill --- Chapter One "This is a major victory for Americans who are suffering at the pump,now that Democrats' ridiculous opposition has run out of gas," said Sen. Jim DeMint (R-S.C.). "Now it's time to ensure drilling is expedited and prevent liberals from tying energy production up in endless litigation." UPDATE: On the day Democrats made their decision official, the Institute for Energy Research, an industry-funded research group, released polling that shows the majority made a popular decision; sixty-five percent of the respondents in the group's bipartisan poll favored repealing the drilling ban, as compared with the 30 percent who would like to keep it in place.
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POPSDemocrats To Let Offshore Drilling Ban Expire! What's Next??? The congressional battle over offshore drilling is far from over. Democrats are expected to press for broader energy legislation, probably next year, that would put limits on any drilling off most of the Atlantic and Pacific coasts. Republicans, meanwhile, are likely to fight any resumption of the drilling bans that have been in place since 1981. "The future resolution of offshore drilling will have to be addressed with a new president," Drew Hamill, spokesman for House Speaker Nancy Pelosi said in a statement.
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POPSGot Gas? continued......What's the problem then? Why aren't oil companies jumping to pump the black gold? Contrary to what some conspiracy theorists would have you believe, there is no cabal of oil companies and foreign governments blocking the way, bottling up U.S. oil production. The reality is much more mundane. Those untapped reserves are located in places that either Uncle Sam has put off-limits for environmental reasons or are too costly to get -- or a combination of both. Given current sky-high prices for crude oil and the likelihood that oil prices will remain high -- at or above $100 a barrel -- for the foreseeable future, it is now economically viable to tap some of those reserves. But environmental concerns -- ranging from preservation of pristine lands to worries about increasing the use of fossil fuels and accelerating global climate change -- remain a hurdle. http://www.kiplinger.com/businessresource/forecast/archive/The_U.S._s_Untapped_Bounty_080630.html
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POPSOil Posts Biggest Gain as Traders Caught in End-Month Squeeze
Oil has risen 33 percent since Sept. 16 as lawmakers pledged fast consideration of the Treasury's plan to buy devalued mortgage-related securities. We are back to the cycle that pushed prices to records earlier this year.'' Gasoline for October delivery increased 10.41 cents, or 4 percent, to settle at $2.7038 a gallon in New York. Heating oil rose 14.52 cents, or 5 percent, to settle at $3.043, the biggest single-session gain since June 6. Regular gasoline, averaged nationwide, declined 1.8 cents to $3.739 a gallon, AAA, the nation's largest motorist organization, said today on its Web site. Pump prices reached a record $4.114 a gallon on July 17. Crude oil prices are ``too high'' because the global economic slowdown may spread and cut consumption, the International Energy Agency's deputy executive director said. ``Gold, silver, oil, copper, just about any hard asset, is looking good at this point,'' said Michael Fitzpatrick, VP at MF Global Ltd. in New York.
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POPSDemocratic Leaders to American Commuter: Ride a Bike and the bill would "...effectively outlaw development of America's vast offshore oil resources." The Democrats plan for energy independence. Maybe I would be more favorable if I thought, for a minute, these same Congressional members would follow their own bill. Can't you just see Pelosi, Frank, Rockefeller, etc....riding their bikes to their offices every morning?? Nope, never would happen.
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POPSPelosi: Oil Bill Will Have Ethics Clause: Becomes A Parody Of Herself Mrs. Pelosi released preliminary details of a massive energy bill that includes a limited expansion of offshore drilling - timing the speaker said was simply a coincidence. The measure is expected to be introduced early next week. "That had nothing to do with when we released our bill," she said. "That's just because we're back now" after Congress' five-week summer break. "The oil and gas industry already benefits from taxpayer-funded subsidies, so the question is: how much has the scandal cost us in lost revenue?" The scandal is a setback for the Bush administration and Capitol Hill Republicans, who for months have been pushing to increase domestic oil drilling in response to skyrocketing gasoline prices at the pump. Republicans denied the scandal would deflate their party's push to increase drilling, saying that the alleged abuses, though serious, are isolated cases and shouldn't derail the nation's quest for more domestically produced oil.
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POPSPelosi Bans House Energy Vote: Force Discharge Petition Pelosi to Secure Energy Vote Ban ..Speaker Pelosi refuses to bring this bill to the House floor, a discharge petition is the only way to force a vote on this legislation. House rules state that a discharge petition must have 218 signatures (a simple majority) in order to bring a bill to the floor for a vote, and Rep. Tim Walberg is working hard to bring both Democrats and Republicans together in support of this bill. Currently the petition has 139 signatures. In other words, the supporters of Walberg's bill only need an additional 79 votes to force Pelosi to bring the bill to the House floor for a vote!
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POPSGlobal Economic Downturn Sinks Crude Futures To Below $l00 The futures market briefly sank below the psychologically important $100-a-barrel mark for the first time since April 2. Wholesale gasoline prices on the Gulf Coast moved further into uncharted territory today, as refineries anticipated that Ike would lead to at least a significant pause in their operations, and at worst damage to their facilities. On Thursday, the Gulf Coast wholesale price of gasoline last traded at around $4.75 a gallon, according to OPIS, up substantially from about $3.25 Wednesday and less than $3 Tuesday. Wholesale prices are determined by major players in the supply chain including refining and trading companies, which constantly buy and sell barrels. These prices end up deciding what refineries charge distributors, before they get marked up further at the retail level for the consumer. The average U.S. retail price for gasoline edged up less than a penny to $3.675 today from Thursday
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POPSThe Really Very Problematic "Pickens Plan" sources that T. Boone Pickens rails about in the context of oil. In its most recent annual outlook, the U.S. Department of Energy projects that the U.S. natural-gas market will become more integrated with natural-gas markets worldwide as the U.S. becomes more dependent on imported liquefied natural gas -- causing greater uncertainty in future U.S. natural-gas prices. The natural-gas supply problem will be additionally magnified if significant greenhouse-gas regulation is enacted. Here's how: Currently, when natural gas gets too expensive, electric utilities often substitute coal or cheaper fuels for power generation. Under a greenhouse-gas regulation scheme, however, inexpensive coal might no longer be an alternative because of the significantly greater greenhouse-gas emissions involved with its combustion. Utilities, and ultimately consumers, could easily find themselves at the mercy of natural-gas barons -- like T. Boone Pickens himself, a large investor in natural gas
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POPSU.S. Senate Approves Highway Trust Fund Fix Road builders lobby breathes a sigh of relief, for now. The bill had been passed by the U.S. House of Representatives, but, because of a technical modification in Senate-passed version, it now goes back to House. Road building trade association notes that it and 22 other trade groups and labor unions wrote a letter yesterday in support of the Senate bill.
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POPSPelosi: Oil Companies Should Pay Royalties The government grants private companies “leases” for the resources in exchange for a portion called a royalty. Democrats have been clamoring for legislation that allowed oil companies drilling in the Gulf of Mexico in 1998 and 1999 to pay a reduced royalty even though the price of oil had risen substantially. The royalty break was an incentive to drill amid low oil prices. Democrats have suggested that companies be required to repay the back royalties if they want federal leases in the future. Republicans have called that a breach of contract with the drillers. In addition, The Denver Post reported Sunday that federal investigators are preparing to release a report detailing improper relationships between Interior Department officials who oversee offshore drilling and oil executives, including golf outings, ski trips and romantic liaisons. Also, Pelosi has been pushing to end tax breaks granted to oil companies.
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POPSNew evidence for prayer: gas prices Obviously the fluctuation of prices are due to mixed prayers. You see, every few minutes, an Arab prays, “Allah, raise the price of oil!” And Allah answers their prayer. Then an American prays, “Jesus, lower the price of oil!” And Jesus does it. And so on and so forth, thus the fluctuation.
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POPSLeftist Economic Nonsense It was astonishing to hear Maxine Waters openly discuss nationalizing the oil industry. She was talking to the heads of America’s oil companies, and she was a little worked up, so it was also possible to say that it was just one person, speaking impulsively in a moment of anger, and easily dismissed. What left most conservatives and libertarians staring in slack jawed wonder was when Maurice Hinchey (D-NY) stood before the press and advocated nationalizing the oil refineries. While most have known about the socialist beliefs of the left, what surprised them was the matter of fact manner in which they were suggesting socialist controls over the oil industry. Finally, the socialist trifecta was complete with Obama supporter Malai Lazu, of the non-profit group Oil Change International calling for “price controls” on Neal Cavuto’s “Your World.” As she simply put it, “When Congress can set prices, Congress can set prices.”
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POPSPrayer At The Pump Here's one you'll never hear: Oh most merciful Jesus, forgive us Bush LUVIN' fools for our "family values" by slashing social spending and bankrupting the government to pay for tax breaks for the rich, corporate welfare, and an insane, cold war-style buildup, for reversing a half century's work of hard-won environmental protections and ignoring the constitution, for making a human being a king, and for making our "moral values" our issues to shroud our wickedness in Godliness. Please forgive us for our vision, oops, hallucination that we are officially authorized by YOU to decide which values are "family" and "traditional" and how everyone should live by not promoting better wages, work conditions and job security. Forgive us Father, for we have sinned. And please lower the price of gas? AMEN.
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POPSWhoring for Her Big Wind Investments Naturally, the Pickens Big Wind plan is proudly endorsed by Do-Nothing Pelosi’s friends at the obstructionist Sierra Club. Through another company, Mesa Power, Pickens has committed upwards of $12 billion in wind farms on the Texas panhandle. CEFC and Mesa Power are separate entities. But what benefits one piece of the Pickens puzzle benefits them all. The wind venture, as Pickens himself acknowledges, depends on permanent federal subsidies. Speaker Pelosi bought between $50,000 and $100,000 of stock in Pickens’ CLNE Corp. in May 2007 on the day of the initial public offering: “She, and other investors, stand to gain a substantial return on their investment if gasoline prices stay high and municipal, state and even the Federal governments start using natural gas as their primary fuel source. If gasoline prices fall? Alternative fuels and the cost to convert fleets over to them becomes less and less attractive.”
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