oil -- here we go again...

[hotwing]

HoustonChronicle.com -- http://www.HoustonChronicle.com | Section: Business

March 30, 2006, 9:25PM

A world of worries drives up oil

Price tops $67 as traders weigh issues in Nigeria, Iran, Venezuela

By BRAD FOSS
Associated Press
WASHINGTON - The price of oil topped $67 a barrel Thursday amid persistent supply disruptions in the Gulf of Mexico and Nigeria, a United Nations standoff with Iran over its nuclear program and growing demand in the U.S. despite rising energy costs.
var bnum=new Number(Math.floor(99999999 * Math.random())+1); document.write(''); http://servedby.advertising.com/cli...dcd,2815293230,710643^339331,1_/bnum=86674799 The market was also rattled by an announcement late Wednesday from Venezuela's oil minister that Exxon Mobil Corp. was no longer welcome in his country, the latest sign of tighter state control of energy around the globe.
"All of these things are adding up," said Antoine Halff, director of global energy at Fimat USA in New York.
Light, sweet crude for May delivery rose 70 cents to settle at $67.15 a barrel — a two-month high on the New York Mercantile Exchange. Crude futures are 24 percent higher than a year ago.
Brent crude for May gained 50 cents to $66.05 a barrel in London's ICE Futures exchange.
Gasoline prices rose 4.15 cents to finish at $1.9957 a gallon, while heating oil futures gained 3.23 cents to end at $1.8843 a gallon.
Natural gas futures climbed 3.1 cents to settle at $7.487 per million British thermal units.
Tensions between Exxon Mobil and Venezuela boiled over because the Irving-based company resisted tax increases and contract changes that are part of a policy by President Hugo Chavez's government to re-nationalize the oil industry. Rather than submit to new terms that will turn 32 privately run oil fields over to state control, the company sold its stake in a 150,000 barrel-a-day field to its partner, Spanish-Argentine major Repsol YPF.
"Exxon Mobil ... preferred to sell to Repsol, its partner in the agreement, rather than adjust," Oil Minister Rafael Ramirez said in an interview with the state-run TV broadcaster. "We said we don't want them to be here then," Ramirez added.
Exxon Mobil indicated Thursday it had no plans to pull out.
"Exxon Mobil de Venezuela continues to have a long-term perspective of its activities in Venezuela," it said in an e-mail to the Associated Press.
After snubbing Exxon Mobil, Ramirez said Venezuela has other eager partners, including state companies from Russia, Iran, China, India, as well as traditional oil companies.
Iran, the No. 2 oil producer in OPEC, has been referred to the U.N. Security Council over fears it may want to make nuclear weapons.
In the Gulf of Mexico, oil output is still down by 343,000 barrels per day because of damage during last summer's hurricanes, 23 percent below pre-storm levels.
Nigerian oil output also remains a concern. Royal Dutch Shell, the largest foreign oil company operating in the country, has shut in nearly half of its Nigerian production and says it won't resume operations until the country is safe enough for its workers.
Some 550,000 barrels per day of Nigerian production has been shut in, analysts said.

 

[jetflyer]

It wouldn't be an oil thread without me posting about peak oil now would it?

Here is an article about PEAK OIL BELIEVER T.BOONE PICKENS saying oil could easily surpass $100 and up to $150 soon:
http://realtimenews.slb.com/news/story.cfm?storyid=632416

Crude oil getting to $150 a barrel isn't outside the realms of possibility, legendary Texas oilman T. Boone Pickens said Thursday........

"I think you'll see $75 before you see $60 again and $100 dollar crude oil, sure it could happen," said Pickens, an adherent of the theory that the world is running out of oil. He said $150 oil was "possible, sure."........

The oil tycoon reaffirmed his 'Peak Oil' view that about 85 million barrels a day is about all the world can supply. Adherents of the peak oil theory believe global production is peaking - or has already peaked - and is set for a sharp decline......

"If that is capped out at 85 million and you still have demand rising in China, India and the U.S., you're going to have to finally kill demand with the price," Pickens said. "You have to get price up to a level that it absolutely chokes demand."

We're most likely almost at Peak Oil now. Peak Oil will occur at the latest around 2012.

Here is a UNITED STATES GOVERNMENT Dept. of Energy Study on what will happen if Peak Oil comes soon, and WHY IT WILL BE SO HARD to REPLACE OIL:
It is titled: PEAKING OF WORLD OIL PRODUCTION:
IMPACTS, MITIGATION, & RISK MANAGEMENT
http://www.netl.doe.gov/publications/others/pdf/Oil_Peaking_NETL.pdf

People need to start listening to people like Republican Congressman Roscoe Bartlett, Energy Policy Advisor Matthew Simmons, T. Boone Pickens, George Soros, etc. etc.

Jet

 

[HalinTexas]

A couple of things.

1) Cheap oil is getting a little harder to find particularly in NIMBY areas. But there is oil to be found in oil sands and oil shale. China has not really even begun to search for oil in their own country.

2) MTBE is being phased out as an oxygenation agent this summer. (carcinogen) Refiners are scrambling to find alternatives, but the only one right now is ethanol and there's not that many refineries set up to use it. (See WSJ this past week.) This is driving up the price of gasoline, which in turn will effect home heating oil and Jet A.

 

[Jim Smyth]

The Oil pricing does get a little old! "Habib's Camel gets a ingrown toe nail and the price per barrel goes up another $5!" They use any excuse to raise the price. Just plain and simple gouging if you ask me. Can anyone explain why diesel fuel costs more per gallon than gasoline at the gas stations? I just don't get that. Diesel is a cruder form of fuel that takes less refining steps. Has always been way cheaper than gasoline but in Chicago there are areas that charge a buck more a gallon for the stuff. Thats really hard to believe. Theres no pricing control, no government oversight which there needs to be since the Oil companies are making record profits but sticking it to every one of us! I sure hope in my lifetime there is another source of fuel that comes along. You can bet which one I will be using!

 

[Uppercrust]

The Oil pricing does get a little old! "Habib's Camel gets a ingrown toe nail and the price per barrel goes up another $5!" They use any excuse to raise the price. Just plain and simple gouging if you ask me. Can anyone explain why diesel fuel costs more per gallon than gasoline at the gas stations? I just don't get that. Diesel is a cruder form of fuel that takes less refining steps. Has always been way cheaper than gasoline but in Chicago there are areas that charge a buck more a gallon for the stuff. Thats really hard to believe. Theres no pricing control, no government oversight which there needs to be since the Oil companies are making record profits but sticking it to every one of us! I sure hope in my lifetime there is another source of fuel that comes along. You can bet which one I will be using!

The Chineese drive up the price of diesel.

 

[El-Rushbo]

Can anyone explain why diesel fuel costs more per gallon than gasoline at the gas stations? I just don't get that.

I have noticed the same thing. Can anyone explain why this is?

 

[JohnDoe]

The other item I really wonder about is how the government turns a blind eye when every single oil/gasoline company raises their prices the exact same amount at the exact same time.......

If the airlines tried that with ticket prices, it would be time for the "grand inquisition" in congress.

 

[jetflyer]

Economist Jim Puplava at www.financialsense.com is a strong believer of Peak Oil. He has a radio show weekly called "THE FINANCIAL SENSE NEWSHOUR" that talks about the economy and investments and he can never help himself but to talk about Peak Oil and interview people on the topic. He has said that he has read over 55 books on the topic and has done other research and says that it is undeniable and is going to happen very soon. He wishes it wasn't going to happen, like me, but it is.

Peak Oil and the stopping of the increase in oil supply and future decline are the REAL REASON for the high oil prices and this is what Jim Puplava is scared of.

Currently the world is producing less oil than this time last year. That is scary..... Is it temporary or have we reached peak where future oil fields brought online will only slow the decline in yearly oil production?

Here are some RECENT RADIO interviews by JIM PUPLAVA about PEAK OIL from his radio program located at:
http://www.netcastdaily.com/fsnewshour.htm

LISTEN TO THESE SHORT INTERVIEWS:
March 25, 2006 Interview
John Howe, Author
"The End of Fossil Energy: And A Plan for Sustainability"
Select an Audio Format
RealPlayer | WinAmp | Windows Media l mp3

March 18th Interview
Stephen Leeb, Author
"The Coming Economic Collapse, How to thrive when oil costs $200 per barrel"
Select an Audio Format
RealPlayer | WinAmp | Windows Media l mp3

Febraury 18th Interview---VERY GOOD INTERVIEW
RICHARD HEINBERG
Author, PowerDown
JAMES HOWARD KUNSTLER
Author, The Long Emergency
Select an Audio Format
RealPlayer | WinAmp | Windows Media l mp3

February 4th interview
"Zapata" George Blake-Analyst-this guy is hilarious
Select an Audio Format
RealPlayer | WinAmp | Windows Media l mp3

January 28th interview
William R. Clark, Author
"Petrodollar Warfare: Oil, Iraq and the Future of the Dollar"
Select an Audio Format
RealPlayer | WinAmp | Windows Media l MP3


His weekly radio show has three sections. These interviews are just one section. They are really good to listen to for anyone interested in making money. He'll tell you how to protect your money and make a killing in these changing times. I made a 40+% return last year, and I've made a 20+% return so far this year.

Jet

 

[h25b]

The Oil pricing does get a little old! "Habib's Camel gets a ingrown toe nail and the price per barrel goes up another $5!" They use any excuse to raise the price. Just plain and simple gouging if you ask me. Can anyone explain why diesel fuel costs more per gallon than gasoline at the gas stations? I just don't get that. Diesel is a cruder form of fuel that takes less refining steps. Has always been way cheaper than gasoline but in Chicago there are areas that charge a buck more a gallon for the stuff. Thats really hard to believe. Theres no pricing control, no government oversight which there needs to be since the Oil companies are making record profits but sticking it to every one of us! I sure hope in my lifetime there is another source of fuel that comes along. You can bet which one I will be using!

I have to agree... I truely believe that now that they have the international demand excuse to use we will never see oil under 60 bucks/barrel again. If you'll notice every time it starts to come down there is some sort of new "supply concern" they come up with to scare the market back up to the high 60's...

 

[bluejuice787]

I have noticed the same thing. Can anyone explain why this is?

Because they say so. As pilots we want some empirical evidence to understand the world around us. I too am guilty. There is no tangible reason diesel is the price it is. The truth is that you cannot "haggle" at the pump. Oh, and there is a finite ammount of the stuff.

Juice

 

[Dangerkitty]

I have noticed the same thing. Can anyone explain why this is?

I was told that it is due to refining capacity. Katrina damaged refineries that mainly dealt with Diesel, Jet-A, and other kerosene type fuels. They are still not up to 100% so this price at the pump is higher.

Don't know if this is an accurate response to your question but it is what I have been told.

 

[jetflyer]

I have to agree... I truely believe that now that they have the international demand excuse to use we will never see oil under 60 bucks/barrel again. If you'll notice every time it starts to come down there is some sort of new "supply concern" they come up with to scare the market back up to the high 60's...

Funny. The real reason for the supply/demand problem is that Oil production is lower this year than last year. There is no SPARE CAPACITY. Opec is PUMPING FULL TILT. They're getting their oil out of the ground as fast as they possibly can and it's not enough for the world. According to Chevron, 33 of the world's 48 major oil producers have DECLINING YEAR OVER YEAR PRODUCTION(PEAK OIL).

Opec wants a low oil price, so do the oil companies. Why are they not mentioning Peak Oil?

They don't want the world to transition to alternatives. They want their product to be sold till the last drop of oil is gone.

You guys are barking up the wrong tree. The world is blaming refineries, Nigeria, Iran, Venezuela, Iraq, China, India, etc. None of these would be issues if oil production were continuing to increase at the historic 3% per year. But it's not.

BOTTOM LINE:
Level OIL Production + increasing OIL demand= Higher oil prices

There is no manipulation of the price.

Jet

 

[h25b]

Last time I checked the actual Saudi oil production capacity is a closely held secret so if you claim to know that they are indeed pumping at full tilt you are truely privy to some good info.

Secondly, there are plenty of respected individuals out there that would agree that there is a great deal tension priced in to the cost of a barrel of oil that has nothing to do with supply and demand...

 

[wheelsup]

All is not lost (yet)....

http://www.technologyreview.com/BizTech/wtr_16650,296,p1.html

Coal-Powered Jets

A new process using jet fuel made from coal could reduce oil dependence, and improve fuel performance in advanced aircraft.

By Kevin Bullis

Researchers have powered a turboshaft jet engine, the type used to drive helicopter rotors, with a coal-based fuel that could eventually replace military and commercial jet fuels, says Harold Schobert, director of the Energy Institute at Pennsylvania State University. The successful development of the coal-based fuel, which was described this week at the American Chemical Society meeting in Atlanta, could also have uses in diesel engines and fuel cells, Schobert says.

Coal-powered aircraft are not new -- Germany used fuels derived from coal to power planes in World War II. But the high cost of building production plants to turn coal into liquid fuel has prevented the technology's widespread use. Now Schobert and colleagues have developed a way to make jet fuel containing as much as 75 percent coal products using existing oil refineries, eliminating the need to build costly new plants -- and potentially making coal-derived fuel an economically viable alternative to oil.

"In the current formulation this would displace half the petroleum, which is very close to the fraction of petroleum that we import. We've actually tested, at a smaller scale, 75 percent replacement," with success, says Schobert.

Coal, the cheapest of fossil fuels, which also has the steadiest prices, is abundant in the United States. John Grasser, a U.S. Department of Energy spokesperson, cites estimates that the amount of recoverable coal in the country is enough for 250-300 years. "You hear a lot about renewables, and certainly renewables have a part to play in making us self sufficient," says Grasser. "But they're not going to have an impact on petroleum coming in. You're going to have to take something like coal, which we have in huge quantities here, and turn it into a petroleum component."

In addition to reducing dependence on oil, the new fuel might, in fact, also have benefits for advanced aircraft. Today's high-performance military aircraft generate a lot of heat, which can damage hydraulics and electronics, Schobert says. As a result, engineers design these planes to use the onboard fuel as a heat sink. As fuels absorb heat, however, they can begin to break down, which can lead to carbon deposits that clog fuel lines and nozzles. Future advanced aircraft could generate even more heat -- too much for today's fuels to handle. Schobert and colleagues methodically tested about 50 compounds to discover thermally stable ones -- and the best, they found, could readily be made from coal. Their fuel can handle temperatures around 600 degrees Fahrenheit (315 degrees Celsius), higher that today's fuels.


Schobert and his colleagues make the fuel using refined coal oil, which is a byproduct of coke manufacture; the byproduct is mixed at an oil refinery with a product of crude oil called light cycle oil. This mix is then hydrogenated using equipment that already exists at refineries, and then it's distilled into various products -- mostly diesel fuel and jet fuel (about 40 percent of each), as well as some gasoline and heating oil.

Other potential benefits of the coal-based fuel: it can replace the three or four different jet fuels used by the military for aircraft and missiles, and the same fuel can be used in diesel engines if those engines are modified slightly. The fuel could also be used without modification in high-temperature stationary fuel cells for generating electricity, Schobert says.

But significant hurdles remain before the fuel can see widespread use. So far, only 500 gallons of it have been produced, far too little to assess production costs, Schobert says. Nevertheless, he suspects that the coal-based fuel could compete with other fuels.

One cost-related problem, however, is that supply of refined coal oil used in the current process is limited, and prices of it would likely go up sharply with increased demand. "Frankly, we'd probably soak up the entire byproduct market, and the folks that sell those byproduct chemicals are not dopes," says Schobert; "they know what they could do to the price under those circumstances." Schobert is now working on other methods of producing the fuel using oil refinery products.

Before the economics of the process can be evaluated, the fuel will need a significant production run -- probably around 50,000 barrels, Schobert estimates, which could cost tens of millions of dollars. He hopes to raise money for the trial run from the private sector. To this end he's organizing a "summit" this spring to bring together parties such as engine makers and oil companies. Schobert also hopes that airlines will be interested: "They don't need the superior thermal stability that this fuel has, but what they do need is a reliable source of fuel that's at a pretty steady price level."

If the money for such a run does come together, one important step still remains. While they've tested the fuel in a stationary jet engine, eventually, "Somebody's got to put this in an airplane and fly it," Schobert says.

 

[jetflyer]

Last time I checked the actual Saudi oil production capacity is a closely held secret so if you claim to know that they are indeed pumping at full tilt you are truely privy to some good info.

They admit they are pumping full tilt in their current fields. That is no secret.

They haven't found a new oil field of any signifigance since they discovered the Hawtah Trend in the early 90's despite incredible efforts.

They say in the future through investment they'll produce new small fields and bring to life old fields through advanced recovery techniques and increase their production, but they probably are at their peak oil, and any future fields will probably just keep their oil production level or slow their decline.

Dick Cheney and George Bush's friend Matthew Simmons who advised Cheney during the energy policy thinks the Saudi's are already at their peak and will never increase their production above what they have today. He lays out a very convincing case in his peak oil book by analyzing the Saudi's own words in over 200 Society of Petroleum engineer papers they've written in the last couple years:
Here is a link at Amazon.com:
Twilight in the Desert: The Coming Saudi Oil Shock and the World Economy (Hardcover)
by Matthew R. Simmons

The Ghawar oil field which produces over half of Saudi Arabia's oil has been in production for 60 years. This field is the king of all kings of oil in the world. They are having a lot of problems in this field. They pump many times more water into Ghawar than they get out oil now to help the natural underground aquifer below it and INCREASE the pressures great enough to keep the oil flowing. The water cuts are increasing dramatically and Saudi Aramco is using the most sophisticated extraction techniques possible including multilateral horizontal drilling, etc.

Ghawar is producing more oil than the Oil sands are supposed to provide in 2020 and it is about to start declining. As Matthew Simmons says in his book, "When Ghawar goes, the World goes"

Jet

 

[blzr]

Gloom and DOOM, why all the gloom and doom? The company I fly for works closely with the coal and oil companies currently in Canada. omething like 190billion brrels of oil there. What is not being said is that the technology for recovering the oil from the sand is getting more and more efficient. There will be plenty of black gold for many years to come.

STOP THE GLOOM AND DOOM!!!!! please.

 

[jetflyer]

Blzr,

What did you think about the Department of Energy Study?
PEAKING OF WORLD OIL PRODUCTION:
IMPACTS, MITIGATION, & RISK MANAGEMENT
http://www.netl.doe.gov/publications...aking_NETL.pdf

Robert Hirsch of the DOE says that in order to prevent extreme financial disaster, we need to start replacing oil with intense effort 20 years ahead of time.

The U.S. imports almost 2/3 of their oil. Coal turned to oil will take many years to even begin as the first plant hasn't been built yet in the U.S.

Read the DOE study and tell me if I'm crazy.

The world uses 1000 barrels a second. That's 42,000 gallons a second. The world is about to have to live with 40,000 gallons a second, then 38,000 gallons a second and less and less and less per year.

The DOE says that if Peak Oil occurs in the next 20 years the economy will suffer a lot. The DOE even admits that a lot of experts are predicting 2007-2012 as the peak year.

Blzr I really want to hear your comments after reading the DOE paper. I want to know if I should worry or not. They talk about coal to oil, how fast the oil sands can be ramped up, unforseen big oil finds that will only delay peak oil by maybe a year, hybrids and everything else imaginable. They say replacing the stuff is going to take many, many trillions and TIME. TIME is something the DOE admits we're running out of.

Robert Hirsch of the DOE said in interviews that the study scared his team to death. He said they only published the best case scenarios and even those scared their team immensely. There are many other informed people like him that are scared.

Please tell me what you think of the DOE study.

Jet

 

[jetflyer]

I don't think I'm a pessimist or a doom and gloomer. I personally
think we'll be able to survive the coming economic hard times and come out
a better more humble people that respect energy and don't take it for
granted. I'm a peak oil optimist.

Jet

 

[Doug Parker]

.


Welcome to the CHURCH OF PEAK OIL

Pastor Jetflyer presiding................

Come on back for the same stupid sermon every week!!






.

 

[jetflyer]

From CNN MONEY:
OPEC to keep pumping at full tilt
Cartel president says there are too many geopolitical factors to cut production; mixed signals from Iran.
http://money.cnn.com/2006/03/08/news/international/opec.reut/index.htm

It's not a state secret.

Opec wants the price of oil to stay artificially LOW so that the world doesn't switch to alternatives. They want us sheeple to use every last drop of their product. We're the stupid ones. They're the smart ones.

One day people will listen to us Peak Freeks . I'm just going to profit in my investments till then

Jet

 

[h25b]

It's not a state secret.

Um, yes it is... The Saudi Oil minister refuses to make public the actual numbers of its oil reserves and they also will not make public their geological data.

The article you posted is states nothing more than OPEC propoganda. If you believe anything those thieves say publicly I have some real estate I'd love to sell you... Listen I agree with a lot of what you say about peak oil, it's obvious we're going to run out. I' just referring to the current state of the oil industry and believe we are all being taken advantage of.

 

[kevdog]

I have noticed the same thing. Can anyone explain why this is?

In every country I have been to outside the USA, diesel is still considerably cheaper than regular gas. I think it has to do with refinery output in this country.

 

[jetflyer]

H25b,

Well we're talking about different things. Yes, I agree with you, that the amount of oil they claim to have is a state secret and is a lie. They and every other OPEC country increased their oil reserves on paper tremendously so they could pump more in the early 1980's.

Here is a great article talking about peak oil and the false oil reserve claims. Matthew Simmons talks about their false oil reserve claims in his book as do many many others. It is no secret that they've lied, to make the world think they have more oil than they have and so they could pump more because of OPEC limits.
Here is the best EXPLANATION and INTRODUCTION TO PEAK OIL, which mentions the oil reserve lie, written by David Goodstein, Caltech vice provost:
www.yubanet.com/cgi-bin/artman/exec/view.cgi/8/15426

The amount of oil they're pumping out of current fields is not a state secret. They say they're pumping their current production fields at "full tilt". They want to keep the price low, so I think that is true, but maybe you're right that they're lying about that as well.

The biggest lie of the Saudi's: "We've got plenty of oil."

Jet

 

[jetflyer]

This comes from a blog I read daily at www.theoildrum.com about Peak oil.

Here is a great explanation of why PEAK OIL is about now. It also talks about the lied about reserve numbers being an issue.

It is the posting they have people read that are visiting their site for the first time:
http://www.theoildrum.com/storyonly/2006/3/1/3402/63420

This blog has many ENERGY Industry insiders, geologists, economists, and people like you and me discussing peak oil daily and all the alternatives that are coming to the market and what impact they will have. There are some very hopeful people there and some very pessimistic people. They agree on one thing: We're very close to peak, the world is not ready, and oil prices will be going up a lot in the near future as we scramble to reduce our oil consumption and replace lost oil production with alternatives like coal to oil and ethanol.

Jet

 

[3BCat]

The Oil pricing does get a little old! "Habib's Camel gets a ingrown toe nail and the price per barrel goes up another $5!" They use any excuse to raise the price. Just plain and simple gouging if you ask me. Can anyone explain why diesel fuel costs more per gallon than gasoline at the gas stations? I just don't get that. Diesel is a cruder form of fuel that takes less refining steps. Has always been way cheaper than gasoline but in Chicago there are areas that charge a buck more a gallon for the stuff. Thats really hard to believe. Theres no pricing control, no government oversight which there needs to be since the Oil companies are making record profits but sticking it to every one of us! I sure hope in my lifetime there is another source of fuel that comes along. You can bet which one I will be using!

Because...Oil is a commodity.
http://finance.yahoo.com/columnist/article/yourlife/2973

 

[jetflyer]

3BCat,
That's funny that Ben Stein wrote that article.

He makes good points.

These small things like problems with a Venezuelan oil strike, or Nigerian rebels taking oil workers hostage, used to not be a big deal when the world had a lot of SPARE CAPACITY and could just OPEN THE TAPS to replace the lost oil. These things wouldn't even make the news 10 years ago.

The rules of the game are changing though and Habib's Camel getting a ingrown toe nail are a big deal now, because there is NO SPARE CAPACITY to make up for the losses.

Unfortunately this is just the beginning. Oil production is level currently but will be declining in the next couple years and things will be worse.

BOTTOM LINE:
Level OIL Production + Increasing OIL Demand= Higher OIL Prices

There is no manipulation of the price. This is the markets way of fairly distributing a commodity. As it becomes more scarce the price goes up and those willing to pay the price can buy it if they want.

Jet

 

[jetflyer]

Well it will probably make a lot of people happy that I won't be able to post anymore for a while.

My greatest advice: Enjoy today. Today is great. Kiss your kids. Kiss your wife and enjoy life to its fullest. Plus even if times get tough till alternatives can replace oil, life will go on. Enjoy it all.

Jet
p.s. investment advice: put some money in commodities, precious metals, energy, and alternative energies too. Probably put more in precious metals though. That is advice I'm passing on from peak oil believer, Jim Puplava the economist, whose interviews can be HEARD from the links found at POSTING NUMBER 8, found above, at the beginning of this thread. You really should listen to his interviews if you want to protect your money.

 

[densoo]

"WASHINGTON - Oil prices appear headed back toward $70 a barrel, a level not seen since Hurricane Katrina battered the Gulf Coast and sporadic shortages sent gasoline at the pump above $3 a gallon nationwide."

http://news.yahoo.com/s/ap/oil_prices_economy;_ylt=ApN4LIlvtEPV3GUGURE8iV0DW7oF;_ylu=X3oDMTBiMW04NW9mBHNlYwMlJVRPUCUl

 

[threegreen]

why can't you post jetflyer?

 

[jetflyer]

threegreen,

Just signed on before I go to sleep.

It's nothing big. I'm just going on a trip tomorrow, and I don't know if I'll be able to post or not. It's a pretty busy trip, but I gotta go get the bacon

Take care,
Jet