Archive for the 'Oil Report' Category

Date: November 6th, 2006, Filed under Oil Report

With NYMEX oil floating in the high US$50s and low US$60s right before the election day, forecasts range from “going down more” to “going way up after,” but no one seems to really know what is going on there. On the G.U.N. gold versus barrel of goods chart from today, we can see how far NYMEX fell versus all the commodities in just the past 60 days. If you watch the graph, you’ll see that NYMEX crude oil stuck with the barrel of goods average fairly well from the start of the chart, May 9, 2006, until September 6, 2006. At that point (about 60 days ago), it really fell sharply.

Read this entire article at the oil report site.

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Date: November 2nd, 2006, Filed under Oil Report

Look like things are heating up in Texas as more U.S. companies work for oil extraction rights within the continental states. Morgan Creek Energy Corp has initiated the process of permitting a twin well for drilling on a key lease in central Texas, according to an article at OilOnline. Upon execution, this well would be the first to be drilled on the Company’s newly acquired leases in the region, which it has targeted as part of the Ouachita (Wash-A-Taw) gas trend. The company has another well dating back to pre-1923 on the same property, which drilled over 200 feet of natural gas. The new well will drill down to 3,600 feet where Morgan Creek Energy believes there are significant gas resources. Natural gas prices have more than doubled, leading more companies to try to discover more supply in the Texas region.

Also in Texas in the Midland region, we see more shale research going on. Robert Cluff of spoke at the Barnett Shale Symposium and talked about the opportunity to discover 800 trillion cubic feet of gas supply. Cluff said That’s enough gas to support thousands of wells to the crowd of 200 at the symposium.

Read this entire article at the oil report site.

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Date: August 9th, 2006, Filed under Oil Report

PORTLAND, OR — by Mike Bryson — The oil industry and market has been destroyed by State regulations, control, war-mongering and subsidies. The more the State has become involved in energy regulation, the higher prices have gone and the lower supplies have dropped. Often times we see those in the State or aligned with the State seeing a crisis looming ahead, but we also have seen the State try to stop a crisis with price caps, which has caused a bigger crisis. The gas crisis during the reign of Nixon was shown to be false, just as every crisis will likely be in the future. The free market of prices tagged to real supply and demand is all we need to overcome a crisis; when real supplies dwindle and real demand goes up, other energy sources will be found. It happened with Kerosene and Coal turning into Gasoline and Nuclear energy; if it wasn’t for the State limiting the supply of Gasoline and Nuclear generation, we’d have much lower prices and much higher supplies of both. Read this entire article at the oil report site.

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Date: August 1st, 2006, Filed under Oil Report

PORTLAND, OR — by Mike Bryson. The a short article from last Thursday, TheState covered an interview with oil lobby economist John Felmy. The quick interview shows that Felmy lays the blame on higher oil prices in decreased supply from U.S., Nigeria, Venezuela and Iraq oil wells, as well as the fact that no refineries have opened in the US in ten years due to bureaucracy. He doesn’t cover the fact that the dollar may have lost half its value in that ten year time frame; fiat inflation caused by the Federal Reserve’s doubling of the amount of dollars in circulation over the decade. Read this entire article at the oil report site.

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Date: July 24th, 2006, Filed under Oil Report

The oil industry is one of the largest State-Business cartels in the world, and most of the time we hear government blaming Big Business on oil’s rocketing price in dollars. Today, though, we see the volley back as the oil lobby lays some blame on government for the rising price of oil. Edward Murphy, downstream general manger at the American Petroleum Institute, said ethanol mandates, instead of the free-market approach, along with government prerogatives like gasoline price-gouging legislation, “exacerbate” the already high prices. The article continues: ethanol was first subsidized in 1978 and is currently empowered by the high prices and slow, but growing, commitment of automakers to create more vehicles that can run on E85 — 85 percent ethanol and 15 percent gasoline. Read this entire article at the oil report site.

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Date: July 13th, 2006, Filed under Oil Report

The Wisconsin Ag connection reports that foreign auto makers are turning their attention to E85.1 They’re forecasting an announcement “very soon” from foreign auto makers to indicate plans to develop FFVs, or Flex Fuel Vehicles — vehicles that can run on gasoline, E85, or a combination of both. Read this entire article at the oil report site.

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