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Oil slides toward multiyear lows
Feb 12 02:54 PM US/Eastern
By MARK WILLIAMS
AP Energy Writer
COLUMBUS, Ohio (AP) - Oil prices slid closer to a new multiyear low Thursday because of growing doubts that the $789 billion stimulus package will reinvigorate the economy and demand for energy.
Retail gas prices, meanwhile, reached a new high for 2009 on Thursday and appeared headed back to $2 a gallon as refiners cut back on production.
Light, sweet crude for March delivery tumbled $1.96, more than 5 percent, to settle at $33.98 a barrel on the New York Mercantile Exchange. The contract has closed lower every day this week.
God bless Geo W. Bush. He spoke, the market responded. Imagine if we had just left it all to Pelosi.
:disagreement:
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__________________
"All that is required for evil to triumph is for good to do nothing."
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Don’t Drill, Baby: Interior Department Halts Offshore Drilling Push
Quote:
The Obama administration called time out Tuesday afternoon on one of the Bush administration’s last moves—opening up parts of the Outer Continental Shelf for more oil and gas drilling.
The decision by Interior Secretary Ken Salazar to further study the country’s offshore energy potential doesn’t mean offshore oil drilling is entirely off the table. But it does spell a steeper road for oil and gas interests hoping to tap into offshore reserves that have long been off-limits, even as it raises the prospect of more renewable-energy development there.
Salazar: “These should not be partisan issues.” (AP)
The Bush decision “was a headlong rush of the worst kind. It was a process rigged to force hurried decisions based on bad information,” secretary Salazar said Tuesday. “It was a process tilted toward the usual energy players while renewable energy companies and the interests of American consumers and taxpayers were overlooked.”
__________________ "Being the best doesn't mean you always win. It just means you win more than anyone else".. tweet from Kurt Warner to Tom Brady.
Don’t Drill, Baby: Interior Department Halts Offshore Drilling Push
Obama's wonks can try to kill all progress in America, but the natives are getting restless and the Ouija board economics of the new administration may find some hard questions being asked.
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__________________
"All that is required for evil to triumph is for good to do nothing."
Don’t Drill, Baby: Interior Department Halts Offshore Drilling Push
Obama's wonks can try to kill all progress in America, but the natives are getting restless and the Ouija board economics of the new administration may find some hard questions being asked.
Thank God Geo Bush acted when he did last summer or the entire energy thing might have gone completely off the rails. We be buying oil from the Somali pirates as they poached every tanker leaving the Gulf.
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__________________
"All that is required for evil to triumph is for good to do nothing."
Last edited by Fogbuster; 02-12-2009 at 02:50 PM..
Obama's wonks can try to kill all progress in America, but the natives are getting restless and the Ouija board economics of the new administration may find some hard questions being asked.
Thank God Geo Bush acted when he did last summer or the entire energy thing might have gone completely off the rails. We be buying oil from the Somali pirates as they poached every tanker leaving the Gulf.
Thank God Geo Bush acted when he did last summer or the entire energy thing might have gone completely off the rails. We be buying oil from the Somali pirates as they poached every tanker leaving the Gulf.
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And the fogman got an athletic scholarship to Dartmouth...
Rush Limbaugh belongs to a union.. Nixon was a great president if it were not for Woodward and Bernstein... see a trend here...
__________________ "Being the best doesn't mean you always win. It just means you win more than anyone else".. tweet from Kurt Warner to Tom Brady.
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"The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of doubt, what is laid before him." Leo Tolstoy, 1897
Crude now at $33.98 -- Drill, baby, drill!!
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