The Federal government in the United States has agreed to a crude oil trade with Mexico, in a landmark decision that could be the beginning of a huge change to the face of the crude oil industry in the United States. For the past 30 years, the United States has had a ban on exporting crude oil to most countries, due to many factors, most notably a desire for energy independence. The opening up of the market to trade with Mexico, is an huge step made by the Obama administration.
China’s decision to devalue its currency, the yuan, to support its slowing economy and reducing exports has had a negative impact on companies and investors in other countries. Suppliers that sell to China took a lot of the fall-out. For instance, the company Freeport-McMoRan lost 12.27%. Car companies and those that sell top range items will also suffer because monetary devaluation now means that the Chinese population cannot afford to purchase more expensive products.
According to several news channels, oil prices continued to fall today and fell with as much as 3 percent on Wednesday, after U.S stockpiles hit some record highs.
According to analysts and traders, the market could very well shed more of the rebound seen over the past two weeks.
The tweet in question came from the Israeli Defense Forces:
Oct. 10 #YomKippur73: Israel Air Force bombards airports in Syria to prevent Soviet weapons reaching the Syrian Army http://t.co/tKnMzYjgFF — IDF (@IDFSpokesperson) October 10, 2013
At first glance, that might seem alarming. After all, Syria has been engaged in a bloody civil war for two and a half years, which has escalated tensions with Israel. And Russia has been a key supporter of Syria's Al-Assad regime. Bottom line: the possibility of a Syrian/Israeli war looms large.
According to the Crude Oil Inventory Report by the US Energy Information Administration, the global consumption has increased to about .09 billion barrels per day last year to arrive at 89.2 million bbl per day, and it is expected that the growth will increase through to 2014 to 91.4 million bbl per day. With OPEC fuel production falling below forecast, and with increasing consumption of those outside of OPEC, the forecast casts a dire outlook for 2014 projections in meeting the global demand.
President Obama should look in a mirror and blame his inept Mideast policy. Of course President Bush could do the same.
The second reason gas prices are high is inept policy by central bankers around the globe, in particular the Fed. Liquidity did not go where central bankers are desperate for it to go (housing), instead it went into food, energy, and the stock market. The president and members of Congress blame speculators.
The third reason gas prices are so high is the US is in a constant state of war for 10 years. Iraq, Afghanistan, and next up Iran. The amount of jet fuel wasted in these endeavors is staggering, so is the amount of gasoline and diesel transporting troops to 140 countries around the globe.
Obama does not want to admit any of the above, so instead he blames the energy companies.
Read the rest at townhall.com
March 27, 2012 in Energies by EIA
The national average price of regular grade gasoline averaged $3.58 per gallon for the month of February 2012, representing a 37-cent (11.5%) increase compared to February 2011 and an historic high for the month of February in both real and nominal prices (see chart above). However, as a result of vehicle fuel economy improvements, costs-per-mile-driven are not at record highs. Further, gasoline prices vary significantly by region, with average prices on the West Coast almost $1 per gallon more expensive than those in the Rocky Mountains. The seasonally-high retail prices are mostly a result of global crude oil prices, which have also been at record levels for this time of year.
As we all know, after starting the “wonderful” Quantitative Easing II ("QE2") program in November 2010, the prices of crude oil are in a hiking process. Also the weak dollar and China's taking over actions, the crude traders had to live really excited days in the last months. The prices of WTI and Brent are around $100 or even higher and there are no improvements to await.
Gas prices are getting up and we barely can do something about it. The only solution to take care about our money is to take care about how much fuel were using. There are several methods, like driving more slowly, carrying less package and turning the engine off by stops.
While on the road last spring I listened to an interview on public radio with Steven Chu, Obama's Energy Secretary, when he stated he thought $7.00 a gallon gas would do the trick in the US. "The trick" he was speaking of was the Obama Administration's goals for the American car owner.
I was driving but I still scribbled down what he said. Think about it next time you're standing outside your auto filling it with gas that should cost about half of what you're paying.
In response to a moderator who himself was very hopeful for much higher gas prices, Chu said this: "Somehow we have to find a way to boost the price of gasoline to the levels in Europe. As I've stated before, $7.00 per gallon would be my desired price. We could help prices ease toward that number by a gradual increase in gas taxes, using the excuse for them as the infrastructure. This would force the American people, finally, to sell their gas guzzlers, and buy more efficient cars. And too to move to houses closer to their work. Yes, somewhere around $7.00 per gallon ought to accomplish that."
Remember what Chu said in September 2008. At least when you fill the gas tank of your car...
Define freedom for the average American living throughout the final decades of the eighteenth century. It was about not paying taxes to a guy overseas. This in the first place, then came the other important declarations and bills of rights. In a glance, look at the current Swiss Constitution and governing system, it is as close as a replica may get to the initial American Constitution and governing system. What makes Switzerland so distinct in Europe, and possibly in the entire world? Low taxes! And neutrality, also known as no involvements in whatever wars overseas.
Generally, the oil prices are correlated with the quality of crude oil, like in the case of other trade products. There are several sorts of oil, each with different qualities and prices. The difference is primarily based on the chemical composition of crude oil. The sulphur content and the energy density are the most important factors in determining the correct pricing for the barrel of crude.
As reported some days before, the oil prices decrease constantly. On 09 May the barrel was by $99.80, but on this week it reached almost $98 per barrel. According to EIA the prices of oil and gasoline will keep decline in the following days. This result is much lower, as the statisticts expected.
The prices for Crude Oil (american) was reported to be handled below $100 per barrel in New York on friday. The price ended at $99.80 per barrel by the end of the day. This is reportedly the first time since march that the price has been below $100 and the decrease in the price is a notable $9.44 (8.6%)
This is now the fourth day where crude oil has continued to trade with downside tendencies. After yesterday's drop it is now steady below $110 per barrel. In Asia crude oil futures has fluctuated this morning. Trading low at $108.42 a barrel and currently trading at roughly $109.17.
In the current news, crude oil prices has increased with 20% in the last quarter, this whilst Brent Crude has risen 38%. The increase in the price has been triggered by the improving demand for fuel. Many companies are now trying to speed up the search for oil and natural gas with a high liquid content.
Crude Oil prices is the best place to look for World crude oil prices. We have updated information about the latest changes and shifts in the crude oil situation. Charts and graphs and statitistical data is provided to make it easy to find the information you're looking for.