I won't be posting while I'm gone so feel free to have a look through the blog archives. I have moved them up just to the right of this post.
They are all brilliant I'm sure. :)
So instead of looking at charts all day I will be looking at this.
6/26/2008
Vacation
I am taking a month off, returning to work July 29. As I leave we have crude oil making new all time highs so it will be interesting to see where it is in a month.
I won't be posting while I'm gone so feel free to have a look through the blog archives. I have moved them up just to the right of this post.
They are all brilliant I'm sure. :)
So instead of looking at charts all day I will be looking at this.
I won't be posting while I'm gone so feel free to have a look through the blog archives. I have moved them up just to the right of this post.
They are all brilliant I'm sure. :)
So instead of looking at charts all day I will be looking at this.
Oil rises past $140 a barrel
NEW YORK: "Oil futures rose to more than $140 a barrel, a new record, Thursday after OPEC's president said oil prices could rise well above $150 a barrel this year and Libya said it may cut oil production."
(click on the read more icon for the full International Herald Tribune story)
read more digg story
(click on the read more icon for the full International Herald Tribune story)
read more digg story
Crude Oil Trades Over $140
Crude oil exploded out the gate this morning with a nice run and then wound up the day with a run over $140.
This should keep the politician's tongues wagging for a while.
13 Tick Range Bar Charts (click on charts to view)
This should keep the politician's tongues wagging for a while.
13 Tick Range Bar Charts (click on charts to view)
6/25/2008
Trading Crude Oil
The market was anticipating a build up of crude oil inventory this week as refiners are not all that keen on buying $136 oil. They cannot sell the refined product at a decent profit.
That's right, the price of gasoline should actually be higher based on the price of crude oil.
Why isn't it?
Count the number of gas stations in your neighborhood. There are simply too many and the competition is fierce. They really only make money selling all the "junk" in the store, not by selling gasoline.
Anyway back to the trading, in this case the pre inventory report guessing was correct as the price just kept falling after the report was released.
Nice day to trade.
That's right, the price of gasoline should actually be higher based on the price of crude oil.
Why isn't it?
Count the number of gas stations in your neighborhood. There are simply too many and the competition is fierce. They really only make money selling all the "junk" in the store, not by selling gasoline.
Anyway back to the trading, in this case the pre inventory report guessing was correct as the price just kept falling after the report was released.
Nice day to trade.
6/24/2008
Oil is an easy target
I am getting very tired of the constant barrage of terror being levied at the oil companies these past few months.
The carbon case for global warming seems to be the lead terrorist in this assault, but now we have the rather bizarre claim that the oil companies are the cause of high gas prices.
This type of "logic" is truly frightening as it exposes the ignorance of anyone who stands any where near this claim.
Imagine life with out oil. Imagine the cost.
The Rainbow Warrior can no longer set sea, Al Gore can no longer fly to his $200,000 dinner speaking engagements, David Suzuki can no longer drive his bus across Canada, you cannot heat your home, your lights don't come on, the car has no fuel, all plastic materials are gone.
Think.
The case to find alternatives is clear, as oil is finite. However while that journey is in progress if you have any economic sense at all, the case to find and produce all the oil we can is also clear.
Click on the read more icon to read Gwyn Morgan's take from his Globe and Mail column.
"My talk focused on a favourite topic - values based leadership. Halfway through the Q&A session came the question ... how could I credibly espouse ethical values given my career in the oil and gas industry?"
read more digg story
The carbon case for global warming seems to be the lead terrorist in this assault, but now we have the rather bizarre claim that the oil companies are the cause of high gas prices.
This type of "logic" is truly frightening as it exposes the ignorance of anyone who stands any where near this claim.
Imagine life with out oil. Imagine the cost.
The Rainbow Warrior can no longer set sea, Al Gore can no longer fly to his $200,000 dinner speaking engagements, David Suzuki can no longer drive his bus across Canada, you cannot heat your home, your lights don't come on, the car has no fuel, all plastic materials are gone.
Think.
The case to find alternatives is clear, as oil is finite. However while that journey is in progress if you have any economic sense at all, the case to find and produce all the oil we can is also clear.
Click on the read more icon to read Gwyn Morgan's take from his Globe and Mail column.
"My talk focused on a favourite topic - values based leadership. Halfway through the Q&A session came the question ... how could I credibly espouse ethical values given my career in the oil and gas industry?"
read more digg story
6/22/2008
Oh to be Rich and Smart
Saudi Arabia Hosts Energy Summit
In the world of oil and politics Saudi Arabia is the King to whom the rest of the world bows. At the recently concluded energy summit the Arabian Kings graciously announced they would increase oil production to 9.7 million barrels per day to help alleviate the current high price of crude oil.
The question is did they say it with a straight face?
The answer is, of course they did.
As I said they are rich and smart.
Let's do some math. 9.7 million barrels of crude oil per day times $135 per barrel is $1,309,500,000 in revenue per day.
Now for the advanced math, $1,309,500,000 times 365 days is $477,967,500,000.
478 billion dollars per year.
At the end of the "summit" the Saudis pat the Americans, Japanese, and British on the head and send them home.
Wouldn't you, if you were rich and smart?
(some pics and quotes from the summit via the globe and mail)
http://www.theglobeandmail.com/servlet/story/RTGAM.20080622.woilmeeting_gallery0622/PhotoGallery01?slot
http://www.theglobeandmail.com/servlet/story/RTGAM.20080622.woilmeeting0622/BNStory/energy/home
In the world of oil and politics Saudi Arabia is the King to whom the rest of the world bows. At the recently concluded energy summit the Arabian Kings graciously announced they would increase oil production to 9.7 million barrels per day to help alleviate the current high price of crude oil.
The question is did they say it with a straight face?
The answer is, of course they did.
As I said they are rich and smart.
Let's do some math. 9.7 million barrels of crude oil per day times $135 per barrel is $1,309,500,000 in revenue per day.
Now for the advanced math, $1,309,500,000 times 365 days is $477,967,500,000.
478 billion dollars per year.
At the end of the "summit" the Saudis pat the Americans, Japanese, and British on the head and send them home.
Wouldn't you, if you were rich and smart?
(some pics and quotes from the summit via the globe and mail)
http://www.theglobeandmail.com/servlet/story/RTGAM.20080622.woilmeeting_gallery0622/PhotoGallery01?slot
http://www.theglobeandmail.com/servlet/story/RTGAM.20080622.woilmeeting0622/BNStory/energy/home
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