rzero
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Posts : 180
Journeyman
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 Posted 06/07/2007 10:37:09 AM | | Quote : Oil hits 11-month high
Fri Jul 6, 2007 11:04AM EDT
By Jane Merriman
LONDON (Reuters) - Oil surged to an 11-month high above $76 a barrel on Friday, putting the market within reach of the all-time record of $78.65 set in August 2006.
Oil is close to last year's peaks because production disruptions in Nigeria and output cuts by OPEC have raised concerns that global supplies are tightening just as demand is picking up from refiners in top consumer the United States.
London Brent crude, now seen as a better indicator of the global market, rose 77 cents to $75.52 a barrel by 1449 GMT, after touching a session high of $76.01, its highest since August 2006.
U.S. crude rose 82 cents to $72.63.
"The global oil picture is fairly tight in terms of supply and demand growth," said Harry Tchilinguirian, senior oil market analyst at BNP Paribas.
Global oil demand growth is increasing faster than non-OPEC supply in the second half of 2007, OPEC has met most of its supply cuts and Nigeria's output is being disrupted.
"Together, these elements are very supportive of prices," Tchilinguirian said.
NIGERIAN DISRUPTIONS
Some 611,000 barrels per day (bpd) of Nigerian production is shut in after a year and a half of attacks on its oil industry.
A one-month truce by the rebel group responsible for much of the violence directed at the Nigerian oil industry has recently ended. Nigerian rebels have attacked on an oil rig and kidnapped a 3-year-old British girl in Port Harcourt in the oil producing Niger Delta.
"We think the oil market is in deficit," said Markus Mezger, partner at Tiberius Services AG, a Swiss-based asset manager in commodities futures funds.
"The rising (crude) stocks in the U.S. is not representative of the global stock levels. We think OECD inventories saw a drawdown in the last month."
Expectations that summer maintenance will reduce supplies of crude from the North Sea oilfields has also helped keep Brent higher relative to crude in the United States, where supplies are at nine-year highs.
U.S. refinery demand is set to start soaking up the crude stocks. Analysts expect refineries to ramp up crude oil runs in the coming weeks after a spate of lengthy unplanned maintenance shutdowns.
Last week, inputs to U.S. refineries rose in every part of the United States, except for the West Coast, according to U.S. government data.
Gasoline supplies worldwide are also tightening.
Northwest European stock levels have fallen to a two-month low, exports from key Asian exporter China in July will drop to their lowest in 10 months and Japanese stocks this week dipped below year-ago levels for the first time this year.
(Additional reporting by Felicia Loo in Singapore, Janet McBride in London)
© Reuters 2006.
http://www.reuters.com/article/hotStocksNews/idUSSP24573020070706[/quote]
--Last edited by rzero on 2007-07-06 10:37:24 --
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rzero
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Journeyman
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| Posted 09/07/2007 11:03:46 AM | | Oil rises to 11-month high (AGAIN)
Mon Jul 9, 2007 12:28PM EDT
By Randy Fabi
LONDON (Reuters) - Oil prices rose to an 11-month high above $76 a barrel on Monday as rising global oil demand and North Sea field maintenance exacerbated supply worries.
London Brent crude, currently seen as a better indicator of the global market, climbed to an intraday high of $76.34 a barrel, the highest level since August 2006.
The all-time record high for Brent is $78.65, reached on August 8, 2006.
"The oil price is at very high levels for good reasons and there's every possibility we could see further strength in coming months," said David Dugdale, an analyst at MFC Global Investment Management.
"With OPEC continuing to withhold oil from the market the general picture remains one of tightness, with kidnappings in Nigeria, the upcoming hurricane season and ongoing geopolitical concerns all adding to uncertainty over the summer."
By 1533 GMT, the August delivery contract for Brent crude traded 38 cents higher at $76 a barrel. U.S. crude fell 44 cents to $72.37 a barrel.
The International Energy Agency, adviser to 26 industrialized countries, said world oil demand would rise faster than expected to 2012 while supply lags.
"Despite four years of high oil prices, this report sees increasing market tightness beyond 2010," the IEA said in its medium-term oil market report.
But OPEC ministers disagree, saying refinery bottlenecks and geopolitical tensions are to blame for high oil prices this year, not supply shortages.
Algeria's Energy and Mines Minister Chakib Khelil told Reuters there was "not much" OPEC could do to bring down prices as global crude oil stocks were already sufficient.
"There is plenty of stocks. It's a problem with capacity and refining," Khelil said ahead of a gas pipeline conference in Brussels.
"Even if it (OPEC) increases production, it's just going to increase stocks and not have any effect because prices are drawn by petroleum product prices."
Expectations that summer maintenance will reduce supplies of crude from North Sea oilfields have also helped boost prices, widening Brent crude's premium to the U.S. grade and putting second-month September Brent at a premium to other contracts.
Two North Sea oil platforms linked to the key Forties crude stream will undergo scheduled maintenance for 16 days in August, prompting the deferment of 320,000 barrels, energy producer Apache Corp. (APA.N: Quote, Profile, Research) said.
(Additional reporting by Fayen Wong in Sydney and Janet McBride in London)
http://www.reuters.com/article/hotStocksNews/idUSKRA93325920070709
© Reuters 2006. --Last edited by rzero on 2007-07-09 11:04:52 --
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Kyrottimus
admin
Posts : 296
Anomaly in Progress
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| Posted 09/07/2007 12:05:19 AM | | Check this out:
http://www.forbes.com/feeds/ap/2007/07/09/ap3894858.html
Quote : From the Article
IEA Warns of Impending Oil-Gas Shortage
The International Energy Agency warned Monday of a global oil and gas crunch due to unforeseen demand and inadequate supply from OPEC and other suppliers.
"Not only does oil look extremely tight in five years time, but this coincides with the prospect of even tighter natural gas markets at the turn of the decade," the energy security watchdog for the 26-nation Organization for Economic Cooperation and Development said in an oil market report.
The Paris-based agency forecasts escalating global growth will cause spare capacity from the Organization of Petroleum Exporting Countries to fall to "uncomfortably low levels" - and non-OPEC countries will not pick up the slack. Supply increases from non-OPEC oil producers will begin to recede in 2009, the report says.
Assumptions are based on a 2.2 percent annual increase in global oil demand, powered by economic growth, which the agency forecasts at 4.5 percent per year.
While the agency does not forecast oil prices, the scenario points to higher prices at the gas pump.
"The IEA has a political role as well as an economic role: the defense of the consumer," said Theirry Lefrancois, an analyst with Natixis in Paris.
"They are saying to OPEC countries, 'Look at where petrol consumption is going to be in 2012, so you will have to increase your production capacities faster than you planned.'"
"If demand increases more than 2 percent a year we will have a major petrol crisis," he said.
Oil prices reached nearly one-year highs last week, rising 3 percent from the June 29 settlement price of $70.68. That was the front-month contract's first close above $70 since August 2006.
Light, sweet crude for August delivery was down 3 cents to $72.78 a barrel in electronic trading on the New York Mercantile Exchange Monday. The contract Friday gained $1 to settle at $72.81 a barrel - the front-month contract's highest settlement since Aug. 15, 2006. |
| "Embrace Liberty close to your hearts, my brothers, for if you let it go, even for a moment... it is gone forever."
"If you have the will to continue breathing, you should have the will to continue breathing free" -- Kyrottimus |
rzero
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Posts : 180
Journeyman
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| Posted 10/07/2007 10:07:49 AM | | Peak Oil is becoming so obvious not even OPEC can hide it anymore.
We will be killing each other over a tank of gass within 5 years.
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rzero
moderator
Posts : 180
Journeyman
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| Posted 12/07/2007 10:17:04 AM | | Oil sets 11-month highs above $76
Thu Jul 12, 2007 12:12PM EDT
By Santosh Menon
LONDON (Reuters) - Oil hit new 11-month highs above $76 a barrel on Thursday, propelled by strong fundamentals and increased flows of fund money into the world's most actively traded commodity.
London Brent crude, seen as the best indicator of the global market, rose $1.35 to $76.79 a barrel by 1410 GMT, its highest since August 10 last year.
Brent is now within striking distance of its record high of $78.65 set on August 8 last year.
U.S. crude was up $1.01 at $73.57 after falling 25 cents a day earlier.
Investors and analysts have cited speculative buying by hedge funds and pension funds as one key factor behind the latest oil rally.
"This (recent) rally is very much fund driven... The entry of long-only hedge funds into the market is a major factor this time around. We wouldn't rule out Brent hitting $80 this summer," said Graham Sharp, director and one of the funding partners at commodities trading group Trafigura.
Investment bank Goldman Sachs said the strong price rally in recent weeks was "firmly grounded in near and longer-term fundamentals."
"These tightening fundamentals have led investor length across the hydrocarbon complex to exceed the high levels reached last year, but with much more sustainable drivers."
STRONG DEMAND
Traders are awaiting the International Energy Agency's monthly report on Friday, expected to give the latest snapshot of global oil demand and stockpiles.
The agency's medium-term oil market report released earlier this week warned that oil demand would rise faster than expected over the next five years while production lags.
U.S. Energy Information Administration data on Wednesday showed a 1.2 million-barrel increase in gasoline inventories there in the week ended July 6, just above analysts' forecasts for a 900,000 barrel-build.
But gasoline stocks remained 8.2 million barrels lower than a year ago, while the peak demand season is expected to last at least more than a month.
U.S. refiners have struggled with unexpected outages this year that drained gasoline stocks ahead of the summer driving season, when demand for the motor fuel peaks.
Demand for gasoline over the past four weeks was up 1.4 percent against year-ago levels, while total fuel demand over the past four weeks was flat versus the same period last year.
Crude stocks in the world's top energy consumer fell 1.4 million barrels last week, compared to an expected rise of 100,000 barrels.
Saudi Arabian oil minister Ali al-Naimi said the tightness in supply of oil products such as gasoline and international political tensions were pushing prices higher.
His view was echoed by other members of the Organization of the Petroleum Exporting Countries, who said they were ready to pump more crude, but saw no need to do so now, rebuffing calls from consumer nations for extra oil to lower prices that reached 11-month highs this week.
© Reuters 2006.
http://www.reuters.com/article/hotStocksNews/idUSKRA93325920070712
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rzero
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Journeyman
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| Posted 13/07/2007 09:43:37 AM | | Oil Rises as North Sea Output Slips on Closed Pipeline, Repairs
By Mark Shenk
Traders work in the crude oil futures pit at the NYME July 13 (Bloomberg) -- Crude oil rose to an 11-month high above $77 a barrel in London and gained in New York after a pipeline shutdown and maintenance work reduced North Sea production.
Chevron Corp. and ConocoPhillips said they lost output from North Sea fields that produce oil and gas after BP Plc closed the pipeline. BG Group Plc said its Armada oil field in the North Sea has been shut for maintenance since June. The International Energy Agency said in a report today that global oil demand will rise 2.5 percent next year.
``Obviously, Brent is the leader,'' said Nauman Barakat, senior vice president of global energy futures at Macquarie Futures USA Inc. in New York. ``It looks like 150,000 barrels a day are being lost because of the pipeline problems in the North Sea, which is giving Brent a boost.''
Crude oil for August delivery rose $1.13, or 1.6 percent, to $73.63 a barrel at 10:03 a.m. on the New York Mercantile Exchange. Futures reached $73.80 yesterday, the highest intraday price since Aug. 15. Oil is up 3.9 percent this week.
New York crude is down 3.9 percent from a year ago, when prices were approaching a record $78.40 a barrel reached July 14, 2006, on concern fighting in Lebanon between Israel and Islamic militia Hezbollah would spread through the Middle East.
Brent crude oil for August settlement increased $1.15, or 1.5 percent, to $77.55 barrel on the London-based ICE Futures exchange. Futures touched $77.58, the highest intraday price since Aug. 9.
Demand Estimates
World oil demand will rise 1.8 percent this year. Demand next year will be led by accelerating consumption growth in China and the Middle East, according to the IEA. The agency lowered its 2007 demand estimate by 100,000 barrels a day since its previous report a month ago. The Paris-based agency is an energy adviser to 26 industrialized countries.
``The IEA is looking for strong growth next year,'' said Michael Lynch, president of Strategic Energy & Economic Research in Winchester, Massachusetts. ``They revised some recent demand estimates lower but not by enough to excite anyone.''
Iran will allow United Nations inspectors to visit a reactor under construction that could produce plutonium, the UN's International Atomic Energy Agency said today. The agreement came during discussions this week in Tehran between Ali Larijani, the country's security chief, and Olli Heinonen, the nuclear agency's deputy director-general.
Iran, which holds the world's second-largest oil and natural gas reserves, says it wants to enrich uranium for use in nuclear power plants to produce electricity. The U.S. says Iran seeks instead to develop an atomic bomb. The dispute has bolstered oil prices since January 2006 because of concern that oil shipments from the country might be cut.
``Iran has recently been off the radar recently but if the inspections go well we may see prices retreat below $70,'' Lynch said.
To contact the reporter on this story: Mark Shenk in New York at mshenk1@bloomberg.net .
Last Updated: July 13, 2007 10:27 EDT
http://www.bloomberg.com/apps/news?pid=20601087&sid=aCDYLRu6J4WA&refer=home#
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Kyrottimus
admin
Posts : 296
Anomaly in Progress
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| Posted 14/07/2007 01:23:09 AM | | Looks like it's about that time I go see a man about buying a horse...
| "Embrace Liberty close to your hearts, my brothers, for if you let it go, even for a moment... it is gone forever."
"If you have the will to continue breathing, you should have the will to continue breathing free" -- Kyrottimus |
Kyrottimus
admin
Posts : 296
Anomaly in Progress
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| Posted 16/07/2007 02:19:19 AM | | Oh I plan on it; the Hawk-Shops here (Pawn Shops) have tons of used, like new, Mountain bikes of many makes, models and styles; FOR CHEAP!!
So one of these days I'll pick out a good one.
| "Embrace Liberty close to your hearts, my brothers, for if you let it go, even for a moment... it is gone forever."
"If you have the will to continue breathing, you should have the will to continue breathing free" -- Kyrottimus |
rzero
moderator
Posts : 180
Journeyman
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| Posted 16/07/2007 10:01:37 AM | | Try to find one without a uhm..versnelling..what would be the correct translation?
Without a gear system, or at least a really simple one. Like only 3 different settings. They tend to break easily.
Also:
.S. oil may hit $95 if OPEC does not hike output: Goldman
Mon Jul 16, 2007 11:10AM EDT
NEW YORK (Reuters) - U.S. crude price could top $90 a barrel this autumn and hit $95 by the end of the year if OPEC keeps oil production capped at current levels, Goldman Sachs said in a report issued on Monday.
U.S. oil prices have risen to near $74 per barrel, driven this month by higher demand and lower supplies, the report said, pointed out that such fundamentals could tighten further unless key OPEC members hike output.
"We believe an increase in Saudi Arabian, Kuwaiti and UAE (United Arab Emirate) production by the end of the summer is critical to avoid prices spiking above $90 a barrel this autumn," the report stated.
OPEC agreed last year to lower output by 1.7 million barrels per day (bpd), and Goldman said global oil production is down about 1 million bpd from last summer's levels.
Disappointing output growth from non-OPEC producers also helped tighten supplies, Goldman said, adding global demand was up by 1 million bpd from year-ago levels.
"Our estimates show that keeping OPEC production at current levels and assuming normal weather this coming winter, total petroleum inventories would fall by over 150 million barrels or 6.5 percent by the end of the year, which would push prices to $95 a barrel without a demand response," the report forecast.
A decision by OPEC to open the taps could take $5 to $10 off the price of a barrel of crude as some speculators exit the market, although the fall might be brief.
"Such a pullback would likely prove temporary as long as global economic growth remains strong, and the consequent reduction in oil spare capacity would increase the market vulnerability to unexpected oil supply disruptions," Goldman said.
© Reuters 2006.
http://www.reuters.com/articlePrint?articleId=USN1633723820070716 --Last edited by rzero on 2007-07-16 10:02:05 --
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rzero
moderator
Posts : 180
Journeyman
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| Posted 17/07/2007 09:56:31 AM | | http://www.reuters.com/article/hotStocksNews/idUSKRA93325920070717?src=071707_1013_TOPSTORY_dow_tops_14%2C000
Oil steadies above $76 after earlier drop
Tue Jul 17, 2007 10:48AM EDT
By Santosh Menon
LONDON (Reuters) - Oil steadied above $76 a barrel on Tuesday, rebounding from an earlier drop as concerns over supply and speculative buying lent support.
London Brent crude for September delivery, the new front-month, was up 8 cents at $76.37 a barrel by 1302 GMT, up from a low of $75.48. Prior to its expiry on Monday, the August contract rose to $78.40 -- just shy of Brent's record $78.65.
U.S. crude was up 58 cents at $74.73, narrowing the spread with Brent, a day ahead of key U.S. oil inventory data.
"Despite yesterday's pull back prices remain very well supported, helped by tightening fundamentals and strong market sentiment," Barclays Capital said in a report.
Oil has rallied from around $50 in January, stoked higher by supply problems in the North Sea and a wave of fund buying.
A series of refinery problems in the United States has also kept markets on edge during the peak driving season, but some plants are restarting and cranking out more fuel.
Gasoline stocks in the world's biggest consumer are expected to have risen by 900,000 barrels last week while a 1.1 million barrel rise in distillate inventories is anticipated, according to a preliminary Reuters poll.
Some analysts said an increase in fuel supplies may do little to dampen oil's rally.
"Prices do seem high even given the fundamentals, which are unquestionably a little tight, but I wouldn't want to bet against the price going much higher," said Simon Wardell of Global Insight.
"There just seems to be a mood out there to push the $80 mark and that might be tested if there's any sort of encouragement in the EIA data."
Speculative investors have aided the price run-up by pushing cash into commodities amid concerns world demand growth will continue to stretch supplies.
"The expectation of higher prices is causing the money to flow in," said Bob Greer of commodity investor PIMCO.
Goldman Sachs said on Monday oil could reach $90 a barrel this autumn and $95 by the end of this year if OPEC did not relent on its export curbs and pump more crude.
But Iran, OPEC's second biggest producer, repeated on Tuesday there was no need to pump more or for member states to gather ahead of the group's scheduled September meeting.
(Additional reporting by Jane Merriman in London and Maryelle Demongeot in Singapore)
© Reuters 2006.
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rzero
moderator
Posts : 180
Journeyman
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| Posted 18/07/2007 09:53:45 AM | | Oil rises after surprise fall in U.S. gasoline stocks
LONDON (Reuters) - Oil rose above $76 a barrel on Wednesday, after U.S. government data showed an unexpected fall in gasoline inventories and a bigger-than-forecast drop in crude oil stocks, which reinforces concerns about tightening supplies.
London Brent crude, seen as a better gauge of global markets than U.S. oil, rose 72 cents to $76.25 a barrel by 1447 GMT, after falling 76 cents the previous day. It hit a $78.40 peak on Monday, near a record high last August.
U.S. light crude rose 74 cents to $74.76 a barrel.
The U.S. Energy Information Administration data showed gasoline stocks fell 2.3 million barrels last week, when they had been forecast to rise by 900,000 barrels.
Crude stocks in top consumer the United States, which have been at around nine-year highs, fell 500,000 barrels, more than forecasts for a 200,000 decline.
U.S. refinery runs were up 0.8 percent to 91 percent.
"There is a triple whammy on gasoline," said Phil Flynn, analyst at Alaron Trading. "Production dropped and imports fell sharply while demand grew stronger. These are mostly opposite of what the market was looking for and so we see prices across the petroleum complex on the rise."
Crude prices are close to record highs because of perceptions that strong global demand is now beginning to have an impact on high oil inventories, especially in the U.S.
The structure of the market is also shifting so that crude prices nearby are higher than prices further into the future, which typically signals a tighter supply outlook.
"Tightness in crude supply is expected to spread to the U.S. over time, as U.S. refineries emerge from extended maintenance shutdowns," said Antoine Halff, analyst with Fimat USA.
The price surge over the past month has prompted calls from the International Energy Agency for OPEC to relax its current supply restraints, introduced in November last year and again in February to stabilize prices, which fell to around $50 in January.
The Organization of the Petroleum Exporting Countries, which meets next in September, has resisted calls to pump more oil, saying there is enough crude and that high prices reflect tightness in oil products, such as gasoline.
Speculative inflows have contributed to the rise in crude prices, which saw Brent crude on Monday come within 25 cents of its record of $78.65 a barrel set on August 8 last year.
(Additional reporting by Maryelle Demongeot in Singapore)
© Reuters 2006.
http://www.reuters.com/article/hotStocksNews/idUSKRA93325920070718
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rzero
moderator
Posts : 180
Journeyman
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| Posted 24/07/2007 10:20:52 AM | | http://www.reuters.com/article/hotStocksNews/idUSKRA93325920070724
Oil falls towards $75, OPEC reassures on supply
Tue Jul 24, 2007 10:08AM EDT
By Ikuko Kao
LONDON (Reuters) - Oil fell more than $1 towards $75 a barrel on Tuesday after further assurances from OPEC that it would pump more crude if needed and expectations of higher U.S. fuel stockpiles.
London Brent crude, now more representative of world prices than U.S. oil, declined for a third day -- slipping $1.60 to $75.26 a barrel by 1335 GMT.
U.S. crude fell $1.40 to $73.49.
"The fall today has been triggered by the comment from an Iranian oil official," said Olivier Jakob of oil consultancy Petromatrix. "It is the combination of other OPEC statements at the weekend especially after OPEC had been quiet for a while."
OPEC's second biggest producer Iran said on Tuesday the exporter group would pump more crude if necessary.
"In case the oil market needs it, OPEC will inject more oil into it," the official IRNA news agency quoted Javad Yarjani, head of OPEC affairs at Iran's Oil Ministry as saying.
His comment followed similar remarks from OPEC President Mohammed al-Hamli on Sunday.
Hamli, also energy minister of the United Arab Emirates said the Organization of the Petroleum Exporting Countries is
worried high oil prices may hurt the world economy.
Brent hit $78.40 last week, just off its all-time high of $78.65 last August.
The market was also weighing expected increases in inventories of refined fuel in top consumer the United States versus a forecast drop in crude oil stocks.
"The strong watch will be on the gasoline stocks," said Jakob of Petromatrix.
U.S. crude stocks are expected to have declined by 1.1 million barrels last week, with refiners ramping up production to offset worries over summer fuel supplies, a Reuters poll of analysts showed.
Gasoline stocks are seen rising by 300,000 barrels last week and distillate stocks 800,000 barrels in U.S. Energy Information Administration (EIA) data due at 1430 GMT on Wednesday.
(Additional reporting by Angela Moon in Seoul and Randy Fabi in London)
© Reuters 2006
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rzero
moderator
Posts : 180
Journeyman
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| Posted 01/08/2007 02:49:59 PM | | Oil price rises to all-time high
Oil prices have climbed to a record high of $78.71 a barrel amid worries about whether oil supplies can meet global demand.
The price of a barrel of US light, sweet crude passed the previous high of $78.40 a barrel, reached in July 2006.
Prices have risen steadily in the past few weeks following disruption to output in Nigeria and the North Sea and set a new closing high on Tuesday.
The latest rise was triggered by data showing a fall in US crude stockpiles.
Falling stocks
The Department of Energy said that oil inventories had fallen by a higher-than-expected 6.5 million barrels in the week ending 27 July.
Analysts had been forecasting a far more modest fall of about 700,000 barrels.
These numbers are enough to keep the crude rally alive
Jim Ritterbusch, energy analyst
Oil markets have withstood recent stock market turbulence, taking their lead from positive economic signs in the US about employment and consumer confidence.
Despite a rise in output from the members of the Opec oil producers' cartel last month, traders are still worried about the amount of spare capacity in the market amid robust demand and continuing instability in oil-rich Nigeria.
"The market is looking closely at the unexpected large draw in crude stocks," said Jim Ritterbusch, president of energy analysts Ritterbusch and Associates.
"These numbers are enough to keep the crude rally alive."
The previous $78.40 high was recorded during the Israel-Lebanon conflict last year.
In London, Brent crude fell 15 cents to $76.90 a barrel.
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/business/6926403.stm
Published: 2007/08/01 15:27:24 GMT
© BBC MMVII
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Kyrottimus
admin
Posts : 296
Anomaly in Progress
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| Posted 01/08/2007 03:36:15 PM | | The dominoes are collapsing towards critical mass from 5 specific directions:
1. U.S. National Debt's floor is collapsing beneith it.
2. Cheap Oil is a thing of the past
3. U.S. Dollar's Inflation can no longer be accurately measured (NO M3) as it spirals out of value.
4. Lack of Public preparedness and foresight to Natural or Other Disasters leaves 95% of the population in the "Reactive Desperation Chaos" mode if/when something goes down.
5. Overburdened, overspread and weakened Military Forces are not present to do their Constitutional task of defending the Nation.
Sooner or later, some Nation-State will smell weakness and go for the throat.
| "Embrace Liberty close to your hearts, my brothers, for if you let it go, even for a moment... it is gone forever."
"If you have the will to continue breathing, you should have the will to continue breathing free" -- Kyrottimus |
rzero
moderator
Posts : 180
Journeyman
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| Posted 02/08/2007 10:50:21 AM | | 4. Lack of Public preparedness and foresight to Natural or Other Disasters leaves 95% of the population in the "Reactive Desperation Chaos" mode if/when something goes down.
The number of "preppers" in any population will never exceed the 5%. The other 95% can simply not comprehend that things are finite. They will live forever, it will always be peace and there's always someone there to help you/leech off. Reality will take care of the sheeple and it will happen sooner than even we think.
5. Overburdened, overspread and weakened Military Forces are not present to do their Constitutional task of defending the Nation.
Even if the entire US army were present to defend it's borders in a time of war it would be futile. The sheeple will tear down the cities while the soldiers die on the frontline. Modern (western) man simply can not sacrifice anything of himself for the greater good. So when the cappacino's and i-pods start to run out they will go out and rape, pillage and burn untill their greedy selfish hearts are satisfied.
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Hollowpoint
moderator
Posts : 118
Journeyman
 |
| Posted 04/08/2007 00:12:12 AM | | thank god i live less than a mile from work...
| | Free Men will never give up consent to relinquish the means to defend their liberties. |
rzero
moderator
Posts : 180
Journeyman
|
| Posted 18/08/2007 02:45:23 AM | | Oil jumps on Fed discount rate cut
NEW YORK (Reuters) - Oil prices jumped on Friday after the U.S. Federal Reserve cut a key interest rate to calm financial markets and on concerns Hurricane Dean could hit Gulf of Mexico installations.
U.S. crude (CLc1: Quote, Profile, Research) settled up 98 cents at $71.98 a barrel, after trading as high as $72.54. London Brent crude (LCOc1: Quote, Profile, Research) was up 67 cents at $70.44.
Forecasts showing Hurricane Dean could spin toward Gulf of Mexico oil rigs and refineries next week supported oil markets that were nervous about potential damage to the region, which pumps a third of U.S. oil output.
But late Friday, a survey of weather models monitored by Reuters showed most forecasters predicting the storm would pass south of offshore U.S. natural gas and oil installations.
Oil and natural gas companies have already begun evacuation of nonessential staff ahead of Dean, which is expected to hit Mexico's Yucatan on Tuesday before entering the Gulf of Mexico. Only a small volume of output has been shut in so far.
Prices were also boosted by the U.S. Federal Reserve announcement of a cut to the discount rate governing Fed loans to banks of a half percentage-point, to 5.75 percent.
In a rare statement between scheduled meetings, the U.S. central bank's policy-setting committee said risks to economic growth "have increased appreciably" due to global credit crisis and financial market turmoil.
"The cut may ease the liquidity crisis in the United States," Christopher Bellew of Bache Financial said. "Of course, you could interpret it as an indication of how serious they think the problem is."
U.S. crude has fallen more than 8 percent from its August 1 record high of $78.77. Markets have been hit by fears of financial instability after troubles with risky U.S. mortgages and a credit squeeze that had already prompted central banks, including the Fed, to pour money into the financial system.
Oil's rise was part of a broader rally that also lifted stock markets after it took a pounding on Thursday as investors sold to offset losses elsewhere or out of fear that a squeeze on credit would slow economic growth.
"The Fed move is supportive for oil. It is basically suggesting that the Fed is going to take action to stem any decline or slowdown in the economy," said Eric Wittenauer, energy analyst at A.G. Edwards in St. Louis.
Wall Street and European stocks rose sharply on Friday after the Federal Reserve move. Gold jumped 2 percent while industrial metals also gained.
HURRICANE WATCH
Dean strengthened into a Category 3 hurricane on Friday, with winds climbing to 125 miles per hour. Hurricane concerns in the energy markets have increased since 2004 and 2005, when hurricanes Ivan, Katrina and Rita toppled oil rigs and flooded refineries on the U.S. Gulf Coast.
Oil and gas companies operating in the Gulf of Mexico stepped up evacuations of workers Friday, and Shell (RDSa.L: Quote, Profile, Research) shut two wells that produce 2,000 barrels per day of oil and 2 million cubic feet per day of natural gas.
(Additional reporting by Jonathan Leff and Barbara Lewis)
© Reuters 2006
http://www.reuters.com/article/hotStocksNews/idUSSP28862120070817
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